UnionPay International Partners with Local E-Wallet Providers to Enable More Digital Payment Options for Malaysian Consumers
UnionPay International announced today that it has partnered with Boost – a leading homegrown lifestyle e-wallet app, and GoPayz – a universal e-wallet developed by U Mobile, to enable more digital payment options for Malaysian consumers. Buoyed by the partnerships with two of the country’s leading e-wallet providers, consumers can now enjoy greater ease and convenience of payment with a wider range of cashless payment choices available as the nation accelerates its shift to a cashless society.
In recent years, UnionPay International (UPI) has been rapidly expanding its footprint in Malaysia. With over 90 percent of merchants in Malaysia now accepting payment via UnionPay Cards, the number of UnionPay Cards issued within the country has more than doubled in 2019, while mobile payment transactions made via UnionPay have been increasing rapidly in 2019 with the wide scale deployment of QR Code terminals in the market across diverse industries like retail, airport duty free, F&B, convenience stores and more.
UPI’s partnership with Boost has paved the way for Boost users to use the e-wallet app to make Quick Response (QR) Code payment at many merchants nationwide, including familiar brands like Old Town White Coffee, Putien, GNC, be Duty Free, Colours & Fragrances, Dimensi Eksklusif, Orange Convenience Store and more. As an introductory offer, first 180,000 users who activate UnionPay QR payment on their Boost app by 31 December 2019 can receive an instant RM3 cashback, while those who spend a minimum of RM300 at selected UnionPay merchants such as Dimensi Exklusif, be Duty Free and Colours and Fragrances can receive an instant RM30 cashback.
As part of the UPI-Boost partnership roadmap, Boost users can also expect UnionPay QR merchants overseas to support mobile payment via the Boost app in future. This means that users will be able to make payment with the Boost app at over 16 million UnionPay QR merchants in 32 countries and regions including Singapore, Hong Kong, Japan, South Korea, Taiwan and Australia.
Meanwhile, UPI’s partnership with GoPayz has opened up new avenues for GoPayz users to make digital payments locally and overseas by using the new UnionPay Virtual Card available on the app. The e-wallet offers comprehensive financial and lifestyle services that are affordable for all (including non-U Mobile customers). With the cross-border payment option, GoPayz users can make payments by scanning the merchant-presented QR code to enjoy various promotions at participating UnionPay QR merchants worldwide. GoPayz users also have the option of paying with their GoPayz UnionPay physical Card.
GoPayz is also looking into enabling NFC payment on the app soon so that users can easily make payments locally and overseas with a simple tap of their mobile phones on the point-of-sale (POS) terminals at over 19 million UnionPay mobile contactless merchants in 38 countries and regions.