Alipay+ Empowers New Growth Opportunities for Malaysian SMEs, Contributing More Than 80% of Inbound QR Payments via DuitNow

SINGAPORE--(BUSINESS WIRE)--Mar 17, 2025--

In their first full year of partnership in 2024, Payments Network Malaysia Sdn Bhd (PayNet) and Ant International, a leading global digital payment, digitisation and financial technology provider, brought new economic opportunities to Malaysian SMEs, with Alipay+ making up more than 80 percent of cross-border inbound QR payments via DuitNow. In the peak travel season in December 2024, the partnership enabled 6 times growth in revenue for Malaysian merchants, compared to the same period in 2023.

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In October 2023, Alipay+, a unified wallet gateway with cross-border payment and digitisation services under Ant International, went live on DuitNow QR, enabling Malaysian SMEs to accept QR payments from international travellers. Today, the number of Alipay+ payment partners that can make payment via DuitNow QR, has more than doubled to 15 international apps, bringing even more customers to Malaysian SMEs.

The Alipay+ partners enabled for use in Malaysia are: Alipay (Chinese mainland), AlipayHK (Hong Kong SAR, China), MPay (Macao SAR, China), TrueMoney and 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).

“As Malaysia’s national payments network, PayNet is committed to building an open and seamless payment ecosystem that enables businesses to thrive,” said Gary Yeoh, Chief Marketing Officer of PayNet. “Our partnership with Ant International has significantly enhanced cross-border payment acceptance for local merchants, helping them tap into a growing wave of global travellers. With Alipay+ as a key driver, DuitNow QR is empowering SMEs to compete on an international scale, reinforcing Malaysia’s position as a premier travel and shopping destination.”

Gateway to growth for Malaysian businesses

Enabled by Alipay+, travellers from 10 countries and regions can now pay using their home payment app at more than 2.5 million DuitNow QR touchpoints in Malaysia simply by scanning the DuitNow QR. In 2024, the number of Alipay+ transactions on DuitNow QR has on average increased by 50 percent quarter-on-quarter, making Alipay+ the biggest contributor to cross-border inbound QR payment, and empowering Malaysian merchants to benefit from the growth in travel.

“We have always believed in the power of travel, for connectivity, cultural exchange and as an economic driver,” said Edward Yue, General Manager for Southeast Asia, Australia and New Zealand, Ant International. “With Alipay+, we offer local businesses a gateway to global customers, driving more inclusive growth in local communities. PayNet has built the infrastructure and partnerships to enable this, and we’re proud to collaborate and bring international users into this ecosystem. We’re just getting started, and in the years ahead, we can make an even greater impact together, positioning Malaysia as a global tourism hub and generating more growth for Malaysian businesses.”

According to Tourism Malaysia, the country welcomed more than 25 million visitors in 2024, with a goal of 35.6 million for the Visit Malaysia 2026 campaign. VM2026 aims to increase tourism revenue, strengthen Malaysia’s global tourism competitiveness, and ultimately position the sector as one of the largest contributors to the country’s GDP.

With the extensive merchant coverage of DuitNow, travellers are enjoying the convenience and seamless experience, paying with their own payment app across Malaysia, with the number of visitors using an Alipay+-enabled payment app increasing five times year-on-year in Q4 2024. Top visited cities include: Kuala Lumpur, Malacca, Penang, Johor Bahru and Kota Kinabalu.

Travel like a local with seamless payments

Malaysia is known as a foodie and cultural haven. Other than shopping, local food including kopitiams (coffee shops), bakeries, and shops selling bak kut teh, satay and locally-produced confectionary accounts for the most transactions amongst travellers. Travellers are also visiting bars and cocktail lounges, cementing Malaysia’s status as a hub for local and international cuisine. Museums like the Baba and Nonya Heritage museum and Sun Yat Sen museum are some of the most visited attractions.

Also on the rise are outdoors and wellness activities, with travellers visiting sporting and recreation camps, diving, fishing and fitness centres, and massage and beauty salons. They enjoy the convenience of day-to-day travel, with one of the highest transactions at convenience stores, pharmacies, supermarkets and vending machines.

In 2025 and beyond, PayNet and Ant International will continue to collaborate through merchant connectivity, marketing and educational campaigns to bring even more growth to Malaysian SMEs.

About Payments Network Malaysia Sdn Bhd

Payments Network Malaysia (PayNet) is the national payments network and central financial infrastructure for Malaysia with the vision to empower Malaysia's digital economy. Our extensive retail payments suite, DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) has near ubiquitous coverage across the nation and is part of the daily fabric of life in Malaysia. In addition, PayNet’s real time retail QR payments network, DuitNow, is also interoperable with domestic schemes in Singapore, Thailand, and Indonesia to enable seamless cross-border transactions with those countries.

PayNet is committed to promoting a secure, efficient, and innovative payments ecosystem in Malaysia, and works closely with its stakeholders to develop new products and services that meet the evolving needs of consumers and businesses.

For more information, please visit www.paynet.my.

About DuitNow

Learn more at: https://www.duitnow.my/index.html

About Alipay+

Ant International's Alipay+ is a unified wallet gateway with cross-border payment and digitisation services that help connect global merchants to consumers. Consumers enjoy seamless payment, a broad choice of deals and the convenience of digital services using their preferred payment app while travelling abroad. Small and medium-sized businesses may use Alipay+ digital tools to enhance efficiency and achieve omni-channel growth.

Malaysian SMEs can connect with global customers via DuitNow QR and Alipay+

NEW YORK (AP) — Kamala Harris “wrote off rural America" during the 2024 presidential campaign and failed to attack Donald Trump with sufficient “negative firepower," according to a long-awaited post-election autopsy released on Thursday by the Democratic National Committee.

The committee's chair, Ken Martin, shared the 192-page report only after facing intense internal pressure from frustrated Democratic operatives concerned with his leadership. Martin had originally promised to release the autopsy, only to keep it under wraps for months because he was concerned it would be a distraction ahead of the midterms as Democrats mobilize to take back control of Congress.

On Tuesday, Martin apologized for his handling of the situation and conceded that the report was withheld because it “was not ready for primetime."

Although the autopsy criticizes Democrats' focus on “identity politics,” it sidesteps some of the most controversial elements of the 2024 campaign. The report does not address former President Joe Biden’s decision to seek reelection, the rushed selection of Harris to replace him on the ticket or the party's acrimonious divide over the war in Gaza.

“I am not proud of this product; it does not meet my standards, and it won’t meet your standards,” Martin wrote in an essay on Substack on Thursday. “I don’t endorse what’s in this report, or what’s left out of it. I could not in good faith put the DNC’s stamp of approval on it. But transparency is paramount.”

A spokesperson for Harris did not immediately respond to a request for comment.

The initial reaction from Democratic operatives was a mix of bafflement and anger over Martin's handling of the situation.

“Why not say this in 2024, or bring in more people to finish it, instead of turning this into the dumbest media cycle for 7-8 months?” Democratic strategist Steve Schale wrote on social media.

The postelection report, which was authored by Democratic consultant Paul Rivera, calls for “a renewed focus on the voters of Middle America and the South, who have come to believe they are not included in the Democratic vision of a stronger and more dynamic America for everyone.”

“Millions of Americans are suffering from poor access to healthcare, manufacturing and job losses, and a failing infrastructure, yet continue to be persuaded to vote against their best interests because they do not see themselves reflected in the America of the Democratic Party,” the report says.

The autopsy points to a reduction in support and training for Democratic state parties, voter registration shifts and “a persistent inability or unwillingness to listen to all voters.”

Thursday's release comes as Martin confronts a crisis of confidence among party officials who are increasingly concerned about the health of their political machine barely a year into his term. Some Democratic operatives have had informal discussions about recruiting a new chair, even though most believe that Martin’s job wasn't in serious jeopardy ahead of the midterm elections.

The report found that Harris and her allies failed to focus enough on Trump's negatives, especially his felony convictions. This was part of a broader criticism that Democrats' messaging is too focused on reason and winning arguments, “even in cycles when the electorate is defined by rage.”

“There was a decision in the 2024 Democratic leadership not to engage in negative advertising at the scale required,” the report states. “The Trump campaign and supportive Super PACs went full throttle against Vice President Harris, but there was not sufficient or similar negative firepower directed at Trump by Democrats.”

The report continues: “It was essential to prosecute a more effective case as to why Trump should have been disqualified from ever again taking office. The grounds were there, but the messaging did not make the case.”

Trump's attack on Harris' transgender policies were cited as a key contrast.

Specifically, the report suggested the Democratic nominee was “boxed” in by the Trump campaign's “very effective” ad that highlighted Harris' previous statement of support for taxpayer-funded gender-affirming surgeries for prison inmates.

Democratic pollsters believed that “if the Vice President would not change her position – and she did not – then there was nothing which would have worked as a response," the report said.

The report criticized Harris' outreach to key segments of America while condemning the party's focus on “identity politics.”

“Harris wrote off rural America, assuming urban/suburban margins would compensate. The math doesn’t work,” the report says. “You can’t lose rural areas by overwhelming margins and make it up elsewhere when rural voters are a significant share of the electorate. If Democrats are to reclaim leadership in the Heartland or the South, candidates must perform well in rural turf. Show up, listen, and then do it again.”

The report also references Democrats' underperformance with male voters of color.

“Male voters require direct engagement. The gender gap can be narrowed. Deploy male messengers, address economic concerns, and don’t assume identity politics will hold male voters of color,” it says.

President Donald Trump speaks during an event about loosening a federal refrigerant rule, in the Oval Office at the White House, Thursday, May 21, 2026, in Washington. (AP Photo/Jacquelyn Martin)

Former Vice President Kamala Harris speaks during a fireside chat on Thursday, May 7, 2026, in Las Vegas. (AP Photo/Ty ONeil)

FILE - Democratic National Committee chair Ken Martin speaks during an interview with The Associated Press at DNC headquarters, Jan. 12, 2026, in Washington. (AP Photo/Allison Robbert, File)