Public Bank signs deal with Ant Financial to offer Alipay service to merchants

PETALING JAYA: Public Bank, Malaysia's third largest bank, and Ant Financial Services Group, an affiliate company of the Alibaba Group, are working together to connect Malaysian merchants with Alipay mobile wallet services, an online and mobile payment solution.

The mobile wallet service caters to the needs of Alipay users from China who frequently travel and shop in Malaysia.

Public Bank believes offering the seamless Alipay service to its existing and new merchants will assist to increase their sales in view of the greater opportunity from the 520 million Alipay active users.

Currently, this service is available at all outlets of Degem Collection, Eu Yan Sang, Lazo Diamond Jewellery, L'OCCITANE, Malindo Airways, Star Cruise, Swiss Luxury Watch & Jewelry, The Swatch Group, Vitacare Pharmacy and many more merchant outlets frequented by tourists from China.

An event to mark the partnership was held at Menara Public Bank and attended by Public Bank Managing Director, Tan Sri Datuk Seri Tay Ah Lek, Deputy CEO, Datuk Chang Kat Kiam, Alipay South East Asia General Manager, Dayong Zhang, and Alipay Malaysia Country Head, Greta Gunawan.

"We are very excited with the collaboration with Alipay, whose parent company Ant Financial is the world's largest fintech startup. We will roll-out Alipay service to our existing and new in-store merchants. Alipay mobile wallet has become an alternative cashless payment for Chinese tourists," Tay said.

Concurring on the significance of this partnership, Dayong Zhang said, "This partnership will enable Alipay payment acceptance at large merchant base of Public Bank and in the end create opportunities for local merchants to better target the large number of Chinese tourists coming to Malaysia."