WeChat has announced that it is working on expanding its current merchant base for WeChat Pay MY, in the country. More than that, it also wishes to be the leading mobile payment option of choice for all Malaysians by the year 2023.
It should be noted that the mobile payment system has had a presence in Malaysia since early last year. At it stands, major outlets that support WeChatPay MY are still limited. These include Starbucks, Tealive, and KK Mart, to name a few. The service is also in use by the Petron Corporation and all its petrol stations in Malaysia.
While nothing has been set in stone, WeChat’s new expansion plans involve empowering smaller, less prominent business entities and companies to make use of the messaging service’s mobile payment system. One such example included small business owners, such as the local vendors selling local cakes and tidbits.
WeChat is also targetting the local “mamak” eateries in Malaysia, and to that end introduced the Syed Bistro chain was one of its next potential clients that would adopt the mobile payment system. The idea was that by using WeChat Pay, customers would be able to simply place their order via the app’s menu, make the payment instantly, and then have their food and drink delivered directly to your table.
Unsurprisingly, WeChat also has plans on being the app of choice on vending machines. During a presentation, we saw a couple of prototype vending machines, all of which were ready to accept payment through WeChat Pay.
E-wallet adoption rates in Malaysia have been slowly picking up. WeChat said that it picked Malaysia mainly for the country’s tremendous growth potential for foreign investments. That’s not to say that WeChat Pay isn’t without its own set of hurdles. The brand still has to contend with other e-wallet vendors in Malaysia, such as GrabPay, AliPay, and Samsung Pay.