Home>Media Center>Company News
Malaysian local e-wallet supports UnionPay QR code payment service

UnionPay International announced today that it is working with Axiata Telecom Group of Malaysia to enable its Boost mobile wallet to make payments using UnionPay QR code both locally and globally, making UnionPay the first international card brand in Malaysia to provide mobile payment services to local consumers. President of China UnionPay Mr. Shi Wenchao and President of Axiata Group Tan Sri Jamarudin attended the signing ceremony.

In line with the development trend of mobile internet and digital payment, UnionPay International has accelerated the roll out of its mobile payment services overseas, and has continuously improved on the acceptance coverage of the “UnionPay” app while making efforts to provide overseas residents with mobile payment services based on UnionPay cards by expanding the coverage of the app and jointly developing e-wallet products with overseas partners. At present, consumers in Singapore, Thailand, Vietnam, Hong Kong and Macau are able to bind the locally-issued UnionPay cards on their mobile payment apps and enjoy code payment service worldwide at the merchants accepting UnionPay QR code payment service.

Shi Wenchao said that in recent years, UnionPay has joined hands with partners to launch innovative products including the “UnionPay” app, QR code payment service and mobile phone payments, thus accumulated rich market experience in development and promotion of innovative products. In the future, UnionPay is willing to continue to leverage its advantages in technologies, standards and products to provide flexible mobile payment service solutions to partners in Malaysia, enhance cardholders’ payment experience and play a role in the development of local payment industry.

UnionPay card acceptance network in Malaysia has improved, with close to 70% POS coverage and over 90% ATM coverage. UnionPay International intends to enable more mobile payment acceptance across many merchant categories, including those in retail, catering, scenic spots, entertainment, accommodation, transportation and others. The collaboration between UnionPay and Axiata means a UnionPay virtual card will be issued to all of Boost’s more than 3.3 million users within two years. After binding UnionPay cards, Boost users can enjoy safe and convenient UnionPay QR code payment service at more local merchants and during cross-border travels.

Tan Sri Jamaruddin said that they are working hard to expand Boost’s coverage of inside and outside Malaysia, and its cooperation with UnionPay International is an important part of the expansion plan. Since UnionPay is a world-renowned international payment brand, the cooperation between both sides will absolutely benefit merchants and users inside and outside Malaysia.

At present, users of the “UnionPay” app can enjoy safe and convenient UnionPay mobile payment services in 42 countries and regions. And there are more than 50,000 merchants in 23 overseas countries and regions supporting UnionPay QR code payment. It is expected that a large number of merchants in Southeast Asia, Hong Kong, Macau, North America and other places will progressively enable UnionPay QR code payment service during the year.

Company News