A Malaysian smart card company, a tiny player in the global online payments business, is hoping to learn from established giants Alipay and WeChatPay as it expands its ewallet service into China, the world’s largest epayment market.
Touch ‘n Go Group, majority owned by CIMB, announced its cross-border payment expansion into China last November through a partnership with Alipay+, the global cross-border digital payments solution offered by Chinese fintech giant Ant Group.
“It’s just as if you’re using Alipay... you don’t need to worry about foreign exchange. Everything is converted behind the scenes,” Alan Ni, the chief executive of TNG Digital, a subsidiary of Touch ‘n Go, said in an interview with the South China Morning Post.
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