UnionPay International has initiated the deployment of its EMV-compliant QR Code throughout Malaysia to enable simple and convenient payments for its cardholders.
The company plans to work with multiple financial and non-financial firms in the country such as iPay88 and Revenue Group to carry out a progressive launch, which is scheduled to be completed by the end of this year.
The UnionPay QR Code for payments is set be available for a variety of businesses, including retail, food & beverage, entertainment, hotels and transport merchants.
UnionPay International Southeast Asia general manager Wenhui Yang said: “As a simple and easy-to-use e-payment solution for consumers and merchants, we believe that UnionPay QR Code will be key in enabling the shift to digital payments for consumers and businesses due to the ease of deployment at a relatively low cost and minimal infrastructure configuration required.
“And as the society quickens the shift towards electronic payments, QR Code for payments will play a major role in catalysing this shift, spurring the adoption of e-payment methods to help realise the Bank Negara’s vision of a cashless society.”
Customers with mobile apps supporting QR Code payments will be able to avail the new solution for their transactions at participating merchants.
Furthermore, the company revealed plans to introduce new physical as well as virtual cards in Malaysia to bring the QR Code payment capability to more customers.