KUALA LUMPUR (March 22): Malayan Banking Bhd (Maybank) is partnering China's Ant Financial Services Group, an affiliate of e-commerce giant Alibaba Group Holding Ltd, to provide Alipay users travelling in Malaysia with contactless payment service when they make purchases at selected merchants in Malaysia. The new service, available from May 2017 onwards, will see Alipay being accepted at Maybank card merchants such as Parkson, Royal Selangor, Duty Free Zone, Eraman and Genting. Operated by Ant Financial, Alipay is a leading mobile payment platform and lifestyle app with 450 million users in China and beyond. He added that more merchants are currently being processed for enrolment into the programme to ensure that Alipay users can have greater payment convenience when in Malaysia. Today, Maybank is the leader in merchant sales volume in Malaysia with a 37% market share.

Source: The Edge Markets March 22, 2017 09:49 UTC