Payments Network Malaysia Sdn Bhd (PayNet), the operator of the country’s national payments network, has expanded its partnership with China’s Ant International to strengthen cross-border digital payments, boost tourism and advance financial technology cooperation.
The two firms signed a renewed memorandum of understanding (MoU) that prioritises four areas – enabling cross-border QR payments, strengthening fraud defences, talent development, and advancing sustainability, per the announcement.
A key highlight of the deal is the worldwide acceptance of Malaysia’s national QR standard, DuitNow QR, through Ant International’s Alipay+ global wallet gateway.
The move will allow Malaysians to use their preferred local e-wallet or banking app at Alipay+’s network of more than 100 million global merchants, significantly widening the reach of DuitNow QR.
“Ant International is honoured to have contributed to Malaysia’s innovation and growth story for over a decade,” said Douglas Feagin, president of Ant International. “We are committed to deepening our partnerships in Malaysia to help strengthen its position as a fintech hub in Southeast Asia.”
PayNet group chief executive Farhan Ahmad said the deal underscores the strength of Malaysia’s payments infrastructure.
“This partnership not only drives global acceptance of DuitNow payments, it also marks the beginning of deep collaboration around reducing fraud, developing future-ready talent, and building a more inclusive, sustainable and resilient digital payments ecosystem,” he said.
The expanded agreement builds on the initial MoU signed in August 2023, which enabled Alipay+ users from 15 international payment partners to pay at more than 2.6 million DuitNow QR merchants across Malaysia.
The integration has been credited with boosting Malaysia’s appeal as a tourist destination and channelling spending directly to small and medium enterprises (SMEs).
To help Malaysia achieve its target of 45 million tourists ahead of Visit Malaysia 2026, the two companies plan to roll out joint campaigns to attract travellers and give local SMEs wider exposure.
They will also step up cooperation in fighting fraud, leveraging Ant International’s AI-powered security technologies, threat intelligence sharing and joint risk audits.
The partners are expanding talent initiatives, including PayHack, Malaysia’s largest intervarsity hackathon, and Ant’s 10×1000 Tech for Inclusion programme.
These initiatives aim to nurture the next generation of fintech talent in partnership with local industry groups such as the Fintech Association of Malaysia.