Hong Leong Bank, the first Malaysian bank to partner Tencent’s WeChat Pay, is confident that the Chinese mobile payment platform will be received positively.
“With a proven platform such as WeChat Pay, ready-to-activate users already on WeChat and the growing number of merchants signing up to WeChat Pay, we are confident that WeChat Pay will be received positively in Malaysia,” the bank’s chief executive officer and group managing director Domenic Fuda said in a statement Thursday.
Hong Leong is the first bank in Malaysia to partner Tencent’s local WeChat Pay as master merchant acquirer, enabling merchants and individual users to transact with WeChat Pay for the first time in Malaysia in Ringgit.
The development has been eagerly awaited by industry watchers and Malaysian consumers, following the bank’s collaboration with Tencent in November 2017 to provide WeChat Pay solutions for online and offline digital payments from retail merchants in Malaysia with an easy-to-adopt, fully integrated cross-border payment solution.
Chinese tourists have been able to pay using WeChat Pay with Renminbi when visiting Malaysia.