Asia: Hong Leong Bank partners WeChat Pay in Malaysia

Hong Leong Bank (HLB) became one of the first banks to partner with WeChat Pay in Malaysia, allowing its customers to link their debit cards to a WeChat Pay mobile wallet.

WeChat Pay users can now make payment transactions at WeChat Pay accepted shops and platforms either in Ringgit or local currency.

The move comes after HLB collaborated with China’s Tencent Holdings Ltd, the developer of WeChat late last year to enable tourists from China to make payments using their WeChat accounts.

HLB group Managing Director and CEO, Domenic Fuda states: “We were also gearing up our merchant acquisition strategy to prepare for the day when WeChat Pay is available in the local currency, so that our customers and WeChat users in Malaysia are able to use this payment option with a large number of merchants already signed up for the WeChat Pay My facility.”

HLB customers in Malaysia will soon be able to make payment transactions in places such as Giant and Resorts World Genting.

As digital payments are expected to be on the rise in Malaysia, HLB’s move to partner WeChat Pay should be a step in the right direction.

As seen from RFi Group data, mobile wallet/digital payment method is one of the top non-cash payment methods (34%) used in Malaysia.

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