Alipay+ will be implemented at payment touchpoints for RMS online and offline merchants from Malaysia’s retail, business, e-hailing, and food and beverage sectors. These merchants can now process cross-border payments made by range of e-wallets and mobile bank apps with one single technical solution. Moreover, with one-time deployment, merchants can access all future digital payment methods supported by Alipay+.
Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially SMEs, to process a range of mobile payment methods and reach regional and global consumers. E-wallets supported by Alipay+ include Touch ‘n Go eWallet in Malaysia, Kakao Pay (Republic of Korea), GCash (The Philippines), AlipayHK (Hong Kong SAR, China), and more.
In 2020, Malaysia recorded 338 million mobile wallet transactions valued at USD 5.5 billion. A growth projection by Boku’s Mobile Wallet Report 2021, suggests it will reach 3.7 billion mobile wallet transactions valued at USD 28.2 billion in 2025. As e-wallet usage grows in Southeast Asia, businesses offering a variety of e-wallets options will be able to cater to shifting consumer behaviour in a evolving payment landscape, according to the press release.
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