While Malaysia’s Digital Free Trade Zone (DFTZ) was launched on March 22nd, some media paid specific attention to the launch of AliPay alongside the launch of DFTZ. The 2 good examples are SinChew Daily (星洲日报) and Nanyang Siang Pau (front-page coverage)(南洋商报) who interviewed me on the potential impacts that AliPay will bring to the payment landscape in the country. My 3 key observations are:
1. The launch of AliPay will give convenience to Chinese tourists providing them a familiar payment option
2. The local businesses dealing with Chinese tourists and businesses should evaluate how AliPay will impact and help their businesses
3. Apart from Maybank and CIMB Bank, iPay88, a prominent local payment solution provider, has signed up as one of the partners of AliPay. This signified how local businesses adapt and leverage when challenges incur with the globalisation. Kudos to my friend and team, Chong Lee Kean (Chief Technology Officer of iPay88)! Another Shout out of ‘Malaysia Boleh’!
Sin Chew Daily (26th Mar 2017)
Nanyang Siang Pau (25th Mar 2017)