Alipay+ make up 80% of crossborder QR payments in DuitNow

Revenue from such payments are 6 times higher in 2024 than 2023.

Alipay+ payments made up more than 80% of cross-border inbound QR payments via DuitNow in 2024, according to data released by the Payments Network Malaysia (PayNet) and Ant International.

In December 2024, the partnerships reportedly “enabled six times growth in revenue for Malaysia merchants” compared to the same period in 2023, it said.

In 2024, the number of Alipay+ transactions on DuitNow QR has on average increased by 50% quarter-on-quarter.

The Alipay+ partners enabled for use in Malaysia are: Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), MPay (Macao SAR, China), TrueMoney, KBank (Thailand), Changi Pay (Singapore), Hipay (Mongolia), HelloMoney and GCash (The Philippines), Tinaba (Italy), Kaspi (Kazakhstan), BigPay (Singapore, Thailand), Kakao Pay, Naver Pay, Toss (South Korea).

For 2025, PayNet and Ant International plans to continue to collaborate through merchant connectivity, marketing, and educational campaigns.