Malaysia-based Hong Leong Bank Bhd. obtained approval from the central bank to enter into an agreement with Tenpay Payment Technology Co. Ltd., a subsidiary of Tencent Holdings Ltd., to offer WeChat Pay in the country.
The partnership will allow Chinese tourists to continue using their WeChat accounts in Malaysia, the bank said in a Nov. 30 release.
As a merchant acquirer for WeChat Pay, the lender can now allow Malaysian businesses to start accepting WeChat payments for both online and in-store payments, it added.
