KUALA LUMPUR – Payments Network Malaysia (PayNet) and Ant International have deepened their strategic partnership, granting Malaysian travellers global access to DuitNow QR payments via Alipay+’s expansive merchant network. The new Memorandum of Understanding, signed at MyFintech Week 2025 and witnessed by Bank Negara Governor Dato’ Sri Abdul Rasheed Ghaffour, enables usage of local e-wallets or banking apps at any of Alipay+’s 100 million merchants worldwide.
The upgraded collaboration extends beyond payment facilitation. Both parties will intensify efforts in fraud prevention, cultivate talent, and bolster sustainability initiatives—all while advancing tourism through seamless cross-border digital payments.
Ant International president Douglas Feagin emphasized the firm’s continued commitment to Malaysia: “We are committed to deepening our investments and partnerships in Malaysia, to help strengthen its position as a key fintech hub in Southeast Asia, and drive inclusive growth in the region and beyond with world‑class innovation and entrepreneurship.” .
PayNet CEO Farhan Ahmad echoed this vision, affirming that the next phase of the partnership reflects the maturity of Malaysia’s national payment infrastructure and its scalability on the global stage. He highlighted that this collaboration marks the beginning of a long-term push to create a resilient, inclusive, and sustainable digital payments ecosystem that benefits both Malaysians and international visitors alike.
Broader Context and Strategic Implications
This move builds on a broader strategy to integrate Malaysia into the global digital payments web. Since October 2023, Alipay+ has allowed Malaysian merchants to accept QR payments from international travellers—now accounting for over 80% of inbound cross-border QR transactions via DuitNow. During peak travel periods, such as December 2024, participating SMEs saw revenues surge sixfold year-on-year.
As part of ASEAN’s broader fintech integration movement, PayNet is also involved in regional initiatives such as Project Nexus aimed at interlinking domestic fast-payment systems. Moreover, PayNet anticipates aligning with India’s UPI in the near future—underscoring Malaysia’s ambition to be both a regional and global fintech nexus.
By promoting seamless, mobile-first payments, this expanded collaboration not only enhances convenience for tourists but also empowers Malaysian SMEs to participate in cross-border commerce with greater ease. It enhances Malaysia’s positioning as a travel destination and nexus for cultural exchange, while reinforcing inclusive economic growth, tech adoption, and financial resilience.
