Hong Leong Bank (HLB) customers can now make direct QR payments in China using HLB QR Pay, thanks to a partnership with UnionPay International (UPI).
This service is available at over 120 million UPI and Weixin Pay QR-enabled merchants in China, including major stores, restaurants, and small businesses. Customers can easily scan and pay directly from the HLB Connect mobile banking app. This means HLB customers can use their HLB accounts to pay without needing third-party apps or adding money to an e-wallet.
Customers can pay in two ways: by scanning the merchant’s QR code (“merchant presented mode”) or by showing their in-app QR code to be scanned by the merchant (“consumer presented mode”). Both methods are commonly used in China.
Most importantly, HLB lets customers choose when to convert their money. With the Multi-Currency Feature (“MCF”) on the HLB Pay&Save Account, customers can change Malaysian Ringgit (“MYR”) into Offshore Chinese Yuan (“CNH”) at good rates before traveling. They can hold the funds and pay directly using HLB QR Pay.
Unlike other platforms that convert currency at the current rate for every transaction, the MCF allows customers to lock in better exchange rates in advance. This way, travelers can enjoy consistent spending power without needing to check daily rates.
Payments come straight from the CNH balance with no extra fees. If the CNH balance is low, the payment will be taken from the primary MYR account, giving customers more options and control over their payments in China.
Andrew Jong, HLB’s Managing Director of Personal Financial Services, commented, “In China, QR payments are central to daily life and commerce. They are used everywhere, from malls and restaurants to street food stalls and rural market vendors. With China being a key destination for Malaysian travellers, businessmen, professionals and students, we recognise the importance of providing a QR payment experience that is not only convenient and everywhere, but also safe with bank-grade security, reliable and familiar.
“By bringing our multi-currency feature together with HLB QR Pay, this partnership with UPI takes us another step closer to creating a more seamless and connected global payment experience that provides convenience to our customers, both at home and abroad. It is about helping our customers feel more prepared when they travel, and more at ease when they arrive.”
For more information, please visit: www.hlb.com.my/UnionPayQR