KUALA LUMPUR: Public Bank Bhd
has launched the Alipay mobile wallet service, following the bank’s collaboration with Ant Financial Services Group.
The Alipay mobile wallet service is now available at the outlets of Public Bank’s merchants to cater to the needs of Alipay users from China, who frequently travel and shop in Malaysia.
Speaking at the launching ceremony on Tuesday, Alipay South-East Asia general manager Zhang Dayong said that the partnership with Public Bank would enable Alipay payment acceptance at a large base of local merchants.
“This partnership will enable Alipay payment acceptance at the large merchant base of Public Bank. This will ultimately create opportunities for local merchants to better target the large number of Chinese tourists coming to Malaysia,” said Zhang.
Alipay, an alternative cashless payment system predominantly used in China, offers the conveniece of payment service without the need for large amounts of cash.
With the expanding business alliance between China and Malaysia, Public Bank believes that offering the seamless Alipay service to its existing and new merchants will help boost their sales.
To date, there are a total of 520 million Alipay active users.
In addition, Public Bank managing director Tan Sri Tay Ah Lek said the bank would roll out Alipay services to its existing and new in-store merchants.
Alipay is available at all outlets of Degem Collection, Eu Yan Sang, Lazo Diamond Jewellery, L’OCCITANE, Malindo Air, Star Cruises, Swiss Luxury Watch & Jewellery, The Swatch Group, Vitacare Pharmacy and many more merchant outlets frequented by tourists from China.
Meanwhile, L’OCCITANE Malaysia Sdn Bhd deputy general manager Sing Loon Poh said the processing fees or merchant rates for using Alipay were cheaper compared with credit or debit cards.
Generally, the average credit card processing fees fall within the range of 1.5% to 3.5%, depending on the card network.