Hong Leong Bank opens China QR payment access via UnionPay tie-up
Customers can pay directly from bank accounts without topping up third-party e-wallets, while the service carries no transaction fees.
A partnership with UnionPay International (UPI) gives Hong Leong Bank Bhd’s (HLB) customers access to more than 120 million merchant touchpoints in China for QR payments. The bank said customers use its HLB Connect application to pay merchants on the UnionPay and Weixin Pay networks.
Participating outlets in Hong Kong, Macau and Thailand also accept the service. HLB is seeking to broaden coverage to other destinations favoured by Malaysian travellers, according to group managing director and chief executive officer Kevin Lam.
Andrew Jong, HLB managing director of personal financial services, said customers could fund payments from their bank accounts rather than topping up external e-wallets. He said transactions carried no fees, and customers could draw on their Pay&Save account’s Malaysian ringgit (MYR) wallet.
The service accommodates both types of QR transaction: customers scanning merchants’ codes and merchants scanning codes shown on customers’ phones. Jong said eligible cards, whether debit or credit, could also be linked to Chinese super-apps such as Weixin Pay to pay for public transportation, food delivery and food and beverage purchases.
Lam said testing took place at several locations in China before the launch. HLB said the addition complements the HLB Pay&Save Account’s multi-currency facilities, which let customers lock in exchange rates before travelling.
