Alipay+ expands network, boosts spending in Malaysia

Data from Alipay+ and PayNet reveals a robust rebound in consumer spending during the first “back-to-normal” Chinese New Year (CNY) season post-pandemic.

Malaysia has emerged as a key beneficiary, especially in cross-border tourism. This surge is attributed to the growth of the Alipay+ ecosystem in Malaysia and its strategic partnerships.

Wide acceptance: 1.9 million DuitNow QR merchants

Since November 2023, Alipay+ has expanded its network to over 1.9 million DuitNow QR merchants in Malaysia, allowing tourists to conveniently pay with their preferred e-wallets.

Additionally, partnerships with top retailers, F&B outlets, and convenience stores offering exclusive CNY campaigns further enhanced the tourist experience.

Dr. Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant International, stated: “With its use spreading across age and income groups, mobile payment is increasingly becoming an important promoter of local and cross-border commerce in Asia and beyond.

Particularly through our partnership with PayNet, we have seen a significant increase in Alipay+ transactions on the DuitNow QR network.

This shows that it not only provides great convenience to tourists but also brings more opportunities to local businesses, both big and small.”

Doubled spending compared to CNY 2019

These efforts, coupled with relaxed visa policies, resulted in Malaysia becoming the fifth most popular destination globally for Chinese tourists during CNY 2024.

Spending in Malaysia during the first seven days of CNY doubled compared to CNY 2019 and soared tenfold compared to 2023, highlighting the significant economic impact.

Gary Yeoh, Chief Commercial Officer of PayNet, expressed pride in the collaboration: “As the national payments network and a pivotal infrastructure for Malaysia, we are immensely proud to be part of this transformative journey with Alipay+.

This partnership, exemplifying how strategic collaborations can drive economic growth and enhance the tourism experience, has facilitated easy payment for international visitors and open up a world of opportunities for local merchants.”

Currently, 13 international e-wallets and bank apps, including Alipay, Kakao Pay, and TrueMoney, are accepted in Malaysia via Alipay+.

This convenience, coupled with new visa-free policies, has attracted tourists from Hong Kong, the Philippines, and Thailand, who rank amongst the top spenders after mainland China.

In a four-month period since launch, transactions via Alipay+ on DuitNow QR have multiplied by 2.5 times, highlighting the partnership’s success.

Malaysia’s success reflects a broader trend. Alipay+ data reveals a surge in Chinese outbound tourism, with Hong Kong, Thailand, and Singapore also witnessing significant growth.

“We are committed to innovating and expanding our services to support the dynamic needs of tourists and merchants,” said Yeoh, highlighting ongoing efforts to position Malaysia as a top-tier global destination.