7-Eleven first Malaysian retailer to accept Alipay

7-Eleven Malaysia hief executive officer Gary Brown. File pic

KUALA LUMPUR: 7-Eleven Malaysia Bhd is the first retailer in Malaysia to accept the Alipay mobile wallet payment, and looks to attract more Chinese tourists to shop at the convenience store chain.

Chief executive officer Gary Brown said 7-Eleven began accepting Alipay from May 12 and that 94% of the 2,100 stores nationwide had gone "live" with the system.

"All our stores will be able to accept Alipay within the next two days. In China, this payment system is a way of life for shopping, and given the growing number of Chinese tourists here, we are hoping for a high uptake," he told reporters after the launch of Alipay mobile wallet at 7-Eleven Bukit Bintang, Kuala Lumpr, on Monday.

The event was launched by Tan Sri Vincent Tan, the founder of Berjaya Corp and majority shareholder of 7-Eleven Malaysia.

Brown said installing the system did not require a huge capital outlay as it can operate with the existing MOL terminal, made possible by 7-Eleven's strategic partnership with MOL Global Inc, a leading technology provider for in-store payment services.

Senior vice-president of international business for Alipay parent company, Ant Financial Services Group, Douglas Feagin said 2.1 million Chinese tourists visited Malaysia last year and the number is expected to grow to about 3.5 million in 2017.

He said these tourists were already familiar with the payment system's mechanism and Alipay allowed them to connect with retailers here with information on what was being sold, promotions and store location.

"The number of tourists and merchants will increase and, therefore, economic activity will also improve," he added.

Meanwhile, Tan, also the majority shareholder of MOL Global, said in Thailand, Chinese tourists spend up to five times more per transaction at 7-Eleven stores via their Alipay mobile wallets compared to the average transaction in Malaysian stores.

"MOL will be an important partner for Alipay to recruit merchants both within and outside the Berjaya Group to widen the payment gateway's acceptance here.

"We will broaden Alipay's reach into the Malaysian market by signing up more merchants from various industries. Our next plan is to roll out Alipay in all of the Berjaya Group of companies," he added.

Berjaya Corp is a leading consumer group, with over 5,000 outlets nationwide and also including Starbucks, Wendy's, Kenny Rogers, Radioshack, Krispy Kreme and many more. - Bernama

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Business News

Maybank IB cautiously optimistic about Malaysia’s economy, equities next year
eMadani provision will not raise inflation in Malaysia - Ahmad Maslan
NCT Group sees strong demand for Ion Belian Garden in Batang Kali
FBM KLCI slips further at lunch break
Australia's central bank holds cash rate at 4.35%
Inflation in Japan's capital slows in November
China's Nov services activity accelerates on boost from new orders - Caixin PMI
Proton records 12,296 vehicle sales in November
2023 a year of headwinds for Malaysia's major commodities
KLK inks RM500mil sustainability-linked loan with Maybank

Others Also Read