China-based social communication giant WeChat has launched its payment services in Malaysia.
WeChat Pay MY is a mobile payment solution designed to help local consumers access secure and convenient mobile payments. The new solution will also enable retailers to interact with their customers across their shopping journey.
Consumers using the app will be able to make payments and transfers in Malaysian Ringgit via the WeChat mobile app. Its services will include on and offline payments for merchants such as telecom carriers, airline and bus ticket providers, restaurants, supermarkets, and chain stores among others.
WeChat Pay MY provides a quick pay solution which lets users complete transactions by showing the app QR code to the merchant to scan and then entering the pin to complete the deal. A user can also connect their bank card to the app, to enable seamless mobile payments, without the need to top-up.
Money Packet’s are another service offered, and enables users to make instant payments or transfers without any charges. It also lets other users transfer money to each other.
Tencent International Business Group vice president Poshu Yeung said, “As Malaysia embraces the digital economy, we are excited to launch WeChat Pay MY, which aims at facilitating the development of the Malaysian market by introducing local users and businesses with a simple, secure and convenient mobile payment experience.”
To celebrate the launch of the WeChat MY Pay solution, the company is deploying a random amount of prepaid ‘top-up coupons’ ranging from RM 3.88 to RM 88.88.
“Moving forward, we will continue to work closely with local regulators and merchants to introduce different payment features and scenarios for both online and offline transactions in Malaysia, which is also aligned with Bank Negara Malaysia (BNM)’s move towards a cashless society,” he added.
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