KUALA LUMPUR, Hong Leong Bank Bhd has appointed EOS Systems Sdn Bhd as the official merchant acquirer for WeChat Pay, a cashless payment system for online and in-store transactions within China’s top messaging app, WeChat.
In a statement, EOS Systems chief executive officer Leong Khai Ric said as the first WeChat Pay merchant acquirer for Hong Leong Bank in Malaysia, it is in a unique position in supporting the bank’s digital aspirations by delivering marketing services and digital solutions to help grow local businesses at an accessible cost.
As demand continues to grow for cashless transactions, so will the number of retail transactions passing through this platform.
We believe that strong presence on WeChat gives local retailers a cost-effective method of having greater exposure to a wider market. Enabling WeChat Pay allows them to capture this potential, he added.
EOS Systems would also provide both online and offline WeChat marketing services and solutions to help transform the way Malaysian companies market themselves through their WeChat official accounts to local and international consumers.
The usage of both renminbi cross-border payments which mainly cater to tourists from China, as well as, for local WeChat Pay transactions in ringgit are on the upwards trend, spurred by the ease of use, availability of RM WeChat Wallet and WeChat popularity among younger consumers.
In Malaysia, there are more than 20 million active users, 85 per cent of them aged between 18 and 35 years old.
Source: BERNAMA News Agency