Maybank, CIMB and Hong Leong Bank customers can now pay with their banking app at shops in Hong Kong, South Korea, the Philippines and Laos. PayNet has linked DuitNow QR with Alipay+, so you scan a shop’s Alipay+ QR code with your usual banking app. This way, you don’t need to change money before you go or pay the extra fee your card charges when you spend overseas.
Maybank’s MAE and CIMB OCTO already work at shops in China that take Alipay, so the other four places are what’s new
Touch ‘n Go eWallet also pays at Alipay+ shops abroad, but you have to top it up first. It adds a 1% conversion fee to the exchange rate. With your banking app, the payment comes straight out of your bank account in ringgit.
Banks That Support Alipay+ QR Payments
Maybank, CIMB and Hong Leong Bank support it now, and PayNet says Bank Islam will join soon. Each bank sets its own limit, and only Maybank has published its fees for these markets so far.
Paying At The Counter
Look for the Alipay+ logo at the cashier counter. Open your banking app, select the QR scanner and scan the shop’s code. Then key in the amount in the local currency. The MAE app shows the bill in both the local currency and ringgit before you confirm the payment. For payments above RM250, you’ll need to approve them with Secure2u.
You always scan the shop’s QR code with your banking app, because the shop can’t scan a code on your phone. Alipay+ payments only work at shops, so you can’t use them to send money to friends or family.
Some shops in China show only a WeChat Pay code, with no Alipay+ logo. The Maybank and CIMB apps can’t be used to pay at these shops. Hong Leong customers can, through a separate UnionPay service that started on 22 October.
Checking The Exchange Rate
Before you confirm the payment, type the bill amount and currency into Google, for example “500 HKD to MYR”. If Google’s ringgit amount is close to the one in your app, you’re getting a fair rate.
Most Malaysian credit cards add 2% to 2.5% in foreign transaction fees once the card network’s charge is included. On RM3,000 of holiday spending, that’s RM60 to RM75 in fees. So if the ringgit amount in your app is close to Google’s and your bank charges no fee, paying by QR costs you less than paying by card.
Before Your Year-End Trip
Not every shop takes Alipay+, and MAE’s daily limit isn’t enough for a big hotel bill. So bring a card or some local cash as a back-up.
If you’re going to China, you can fix your exchange rate before you fly by holding yuan in a multi-currency account. With Hong Leong’s Pay&Save Account, you can change ringgit to yuan. When you scan a WeChat Pay or UnionPay code in China, HLB Connect pays from your yuan balance. If you don’t have enough yuan, it pays from your ringgit account instead.
Maybank’s Global Access Account-i will hold Chinese yuan (CNH) and four other Asian currencies from 19 November, rolled out in stages. Other banks have multi-currency accounts too, and our multi-currency debit card page lists them side by side.
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