Tencent launches WeChat Pay MY in Malaysia

KK SUPER MART IS THE FIRST CHAIN STORE IN MALAYSIA TO ACCEPT WECHAT PAY MY

In June, we got news that WeChat Pay will be launching in Malaysia. WeChat, China’s most popular social media app, has finally launched its digital payments service, WeChat Pay, in Malaysia, marking its first product to be released in Asia outside of China and Hong Kong.

To celebrate the launch, “Money Packets” will be given away to all WeChat users between Aug 21 and 28, it claims. The Money Packet will be filled with a random amount ranging from RM3.88 to RM88.88, and a prepaid top-up coupon of RM2 will also be given away. Money Packets is a peer-to-peer payment system that allows users to transfer money to others or a group with no service charge.

“As Malaysia embraces the digital economy, we are excited to launch WeChat Pay My, which aims to facilitate the development of the Malaysian market by introducing local users and businesses with a simple, secure and convenient mobile payment experience,” says Tencent International Business Group vice president Poshu Yeung.

Poshu says that WeChat Pay My has received Bank Negara’s approval to act as an electronic money issuer, and has implemented security technologies that comply with international standards, including 24/7 real-time monitoring of all transactions.

Other features include Quick Pay which allows users to generate a QR code that merchants can scan to pay for a transaction and Debit Card Binding which lets users associate multiple cards to top up their e-wallet. Users can also withdraw money from their accounts by transferring it to their local bank accounts as long as it doesn’t exceed RM10,000 a month.

“We are also pleased to announce that KK Super Mart is the first chain store in Malaysia to accept WeChat Pay MY,” added Poshu.