24 January 2025
UnionPay International (UPI), which delivers cross-border payment solutions to the world’s largest cardholders, has announced a strategic partnership with Malaysian financial institution Bank Simpanan Nasional (BSN) to launch the UnionPay QR payment in Malaysia in the first half of 2025.
The collaboration underscores both parties’ commitment to advancing digital payment solutions in Malaysia and enhancing the country’s evolving payment ecosystem. Through this partnership, BSN will join UnionPay as a member, expanding its portfolio of payment system operators to include UnionPay alongside Visa, Mastercard and MyDebit.
As the third-largest debit card issuer in Malaysia, managing over six million debit cards nationwide, BSN is adapting to evolving consumer preferences for e-wallets and contactless transactions. In a strategic move to strengthen its presence in the digital payment landscape, BSN is expanding its payment and acceptance solutions to include QR payment. It says that this initiative will empower customers, particularly digitally savvy and travel-oriented young consumers, to make seamless domestic and international payments through UnionPay’s secure and widely accepted QR payment system.
“This partnership allows us to expand our digital payment solutions while contributing to the growth of Malaysia’s digital payment ecosystem. With this virtual QR Pay solution, consumers will benefit from greater convenience, security, and control over their spending, enhancing their financial experiences, especially during cross-border travel,” said Dr. Jian Jiangtao, Regional Head of UnionPay International (Southeast Asia).
“This partnership with UPI marks a significant milestone in BSN’s digital transformation journey. The QR payment solution enables customers to transact effortlessly across UnionPay’s extensive network, including China and other participating countries. BSN’s facilitation of QR Pay acceptance amplifies our commitment to supporting micro-businesses and SMEs in adopting cashless payment solutions,” said Encik Jay Khairil, Chief Executive of BSN.
