CIMB-Alipay mobile wallet provides Chinese tourists a more seamless payment experience

(From left) Zafrul Aziz, Nazir, Najib, Ma, Peng and Feagin pose for a photo at the exchange of Memorandum of Understanding between CIMB Bank and Ant Financial Services Group.

KUCHING: CIMB Bank Bhd (CIMB Bank) and Ant Financial Services Group (Ant Financial), the parent company of Alipay, the world’s largest online and mobile payment platform, yesterday announced a collaboration to enable the Alipay mobile wallet in Malaysia as an alternative cashless payment for Chinese tourists.

CIMB Bank will act as the settlement and merchant acquirer bank to facilitate Alipay payments in Malaysia, to enable Chinese visitors to pay for their transactions in renminbi without concern about exchange rates, through a simple barcode-scanning method that they are used to in China.

Douglas Feagin, Senior vice president of Ant Financial said, “We are pleased to work with a leading financial institution in Malaysia and Asean such as CIMB Bank to bring the convenience of the Alipay service to our users wherever and whenever they need them. We see CIMB Bank, with its extensive merchant network, as the perfect collaboration partner to provide our payment solutions to Chinese travellers in this region.”

Tengku Dato’ Sri Zafrul Aziz, group chief executive, CIMB Group said, “The entry of Alipay marks a notable milestone in the growth of mobile wallet payment services in Malaysia. We are excited to work with Alipay to provide Chinese tourists a convenient and secure payment experience while in Malaysia and we target to go live with our merchants by May 2017, having received Bank Negara approval just recently.

“CIMB’s leading edge expertise in transaction banking is not only supporting Malaysia’s drive for a safe and secure cashless society, but also providing our customers with a seamless banking experience within Asean.”

Earlier on, an exchange of Memorandum of Understanding (MOU) took place between CIMB Bank and Ant Financial to officiate the collaboration. Ant Financial was represented by Douglas Feagin while CIMB Group was represented by Tengku Dato’ Sri Zafrul Aziz.

Witnessing the MOU exchange were Dato’ Sri Najib Razak, Prime Minister of Malaysia; Jack Ma, executive chairman, Alibaba Group; Dato’ Sri Nazir Razak, chairman, CIMB Group and Lucy Peng, chairman, Ant Financial.

Thus far, CIMB is collaborating with Genting Malaysia Berhad, Digi Telecommunications Sdn Bhd, YTL Corporation Berhad and Maxincome Resources Sdn Bhd (which operates the FamilyMart convenience store chain) to be the pioneer merchants to accept Alipay mobile wallet payments in Malaysia.

Alipay merchants in Malaysia will have the opportunity to deepen their wallet share from Chinese travellers, by providing an alternative payment channel to current cash or dual-currency credit card facilities.

Genting Malaysia Berhad’s leading integrated resort, Resorts World Genting will be the first merchant working with CIMB to incorporate Alipay as an alternative payment channel for its customers. The award winning resort will have the world’s first Twentieth Century Fox Theme Park, the brand new SkyAvenue mall’s food and beverage and retail outlets, and also hotels under its RM10.4 billion Genting Integrated Tourism Plan.

Digi Telecommunications Sdn Bhd will enable tourists from China to enjoy the convenience of paying for Digi mobile and data plans through the Alipay mobile wallet, enabling them to stay connected while they are in Malaysia. The Alipay mobile wallet provides customers payment convenience in line with Digi’s strategy to bring a seamless digital experience to its customers.

YTL Corporation Berhad is looking into welcoming acceptance of Alipay mobile wallet with CIMB, especially for YTL Hotels & Properties, the hospitality arm of YTL Corporation Berhad, YTL Hotels & Properties owns and manages a prestigious collection of award-winning resorts, hotels, boutique experiences and spa villages; as well as Hutong @ Lot 10, and Starhill Gallery in Kuala Lumpur, where many Chinese tourists frequent whenever they visit Malaysia.

FamilyMart will enable Alipay acceptance in three of its current outlets, located in Wisma Lim Foo Yong, Mid Valley, and KLIA 2, in its continuous efforts to bring more convenience to its shoppers. FamilyMart, which originates from Japan, is the first convenience store chain in Malaysia to bring mobile payment and Alipay to Chinese tourists. The chain targets to open 300 stores in five years.

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