According to Reuters quoted WeChat to pay overseas business leader Yin Jie news that Tencent has been in Malaysia to apply for payment by WeChat payment license, which will be WeChat to pay the first step towards overseas. If approved, Malaysian users will be able to bind their local bank accounts with WeChat payments to pay for goods and services in RM.
"Malaysia has a large Chinese community," Yin Jie in Hong Kong to participate in science and technology conference gap when the choice of Malaysia to explain. WeChat payment and Alibaba's Alipay, are through the sweep to pay or transfer, the Chinese into a cashless society. They also combined with overseas travel in the international expansion, making more companies to accept their services, that allows users to use China's bank account to pay, without facing the trouble of exchange.
Such cross-border payment licenses are different from the licenses required for local payment services. In addition to the mainland of China, Hong Kong is currently the only area where microfinance payments and Alipay provide local payment services. Local transactions are settled in Hong Kong dollars. Alipay introduced a special application for the Hong Kong market in May this year, for its first non-RMB application.