CIMB and Alipay partner on cashless payments
CIMB Bank has partnered with Ant Financial Services, the parent company of Alipay, to allow Chinese tourists who are visiting Malaysia to use Alipay's mobile wallet. The cashless payment option allows travellers to cover their expenses and pay for them in renminbi. The transaction option is due to go live by May.
KUALA LUMPUR (March 22): CIMB Bank Bhd has teamed up with China's Ant Financial Services Group to enable the use of Alipay mobile wallet in Malaysia as an alternative cashless payment for Chinese tourists.

Ant Financial is the parent of Alipay — the world’s largest online and mobile payment platform — and is an affiliate of e-commerce giant Alibaba Group Holding Ltd.

In a joint statement today, CIMB Bank said it will act as the settlement and merchant acquirer bank to facilitate Alipay payments in Malaysia, to enable Chinese visitors to pay for their transactions in renminbi through a simple barcode-scanning method that they are used to in China.

"We see CIMB Bank, with its extensive merchant network, as the perfect collaboration partner to provide our payment solutions to Chinese travellers in this region," Ant Financial senior vice-president Douglas Feagin said.

CIMB Group Holdings Bhd group chief executive Tengku Datuk Seri Zafrul Aziz said it targets the Alipay mobile wallet service to go live with the bank's merchants by May this year, having received Bank Negara Malaysia's approval just recently.