So, news reporting that WeChat pay would soon make available in the Malaysian markets with ringgit transactions and that is going for real by 218. Their rival Alipay has also announced to launch the payment solutions in the country in the view making Malaysia as a gateway to expand to other ASEAN markets through the DFTZ.

Would you use them because of its convenience given the fact that Visa and MasterCard plastic offer some privileges like cash back, bonus to name a few.

Hi keras place will still use CC.
Food stall, 7-11, Ramli Burger will use Alipay.

You can't imagine how easy your life will be with Alipay. I personally experience it when I working in China. Basically zero cash needed.

Not forgetting we also have Samsung Pay which is becoming popular. I wouldn't mind trying Ali Pay once it is officially launched.

The big difference is the retailer need to only provide a QR code for buyers to scan.

That is so much easier for, say, the roadside vegetable seller to do compared to installing a Pin & Pay or Paywave terminal.

AFAIK.

Yes Bro, indeed the QR code method wins hands down with it's ease of use. Look forward to it. Not to mention so many new cashless payment systems being rolled out by our local service providers. Even DiGi and TM has joined the band wagon. Everyone wants a share of the cake but in the end majority will flop.

Yay indeed .. I wanted to try it out when I visited China previously but too bad I do not have the local bank card. Well, people say cash is king so I am one because no one in China use cash for payments.. lol


The biggest cons for Samsung pay is that it only targeting few people. Not everyone is using Samsung somewhat but it is a good start for Samsung.

Entry cost for cashless payment is good got small businesses. Vcash is offering 0.8% merchant fee for every transactions made on their infrastructure. Which is good...noore bulky machine. Question here, how do people do instalment plans going forward.. hmmm

I might be stupid about this, but I guess BOOST will be the next big thing.

Because? Because of Axiata. They got a load of budget

Boost? Are you referring to the energy drink? Haha

It's mobile wallet man.

Go download it now at playstore/appstore

https://www.myboost.com.my/

But credit cards have cashback, points, free lounge access, etc...

How about these mobile payments?

Not that many incentives as compared to credit cards at this current moment

Exactly... All these perks would be gone by then tho...
But the good part is that we can split the bill by sending money each other with ease.

Credit card merchant kena 2-2.9%,
Alipay and Wechatpay is supposed to be below 1%.

Go figure.

Hence why Alipay and Wechatpay will win hands down.

Oo ooo... We don't get paid for interest earned by putting money into those payment channel too... Just like Vcash that is turning me off

Unless alipay and whatsoever pay comes with cash back or perks for the user, it won't gain a following in Malaysia. Why should I use those pay and earn nothing from them when I can use cc and get some of my money back?

Not if consumer are not adopting it. You can offer super cheap fees but if the customers are not using and they demand for Mastercard and visa, the merchant have to comply or they will lose their customer.

This post has been edited by Ramjade: Nov 30 2017, 11:12 PM

Missing all the essential points. Which can be summed as:

1. we are not talking about perks. We are talking about convenience of cashless transactions.
2. we are talking about convenience where the casual hawker can participate in cashless transactions without having to install some sort of online terminal involving extra costs and nowhere as fast and simple as providing a QR code to scan.

You need to spend less time on this forum and get out to the real world more.

This post has been edited by howszat: Nov 30 2017, 11:20 PM

WeChat is relying on the 20m user base in Malaysia but how many are they really tech savvy in all these stuff? Say by taking grab and Uber as comparisons, there might be a huge user base but in fact it is just perceptions of how we see it and they are having a difficult time in wooing users ...

Anyhow, maybe alibaba and tencent have some magics in turning things around

If you are talking about hawker, no hawker in their right mind will use these QR codes (every profit matters to small time hawker). Maybe in KV in the future but not in East coast or Sabah and sarawak. Cash is still the way to go. Don't believe me, go to your nearest wet market and pasar malam. See how many people using phone to pay. Transactions is still carried out via cash. Heck, maybank and Cimb (2 of Malaysia largest bank) also have wallets but you don't see it being adopted by the masses.

Unless they are willing to burn cash to give perks. Otherwise those who have been hacking cc (using the right card for the right occasion) to get double digit cashback will never adopt it. You need these users to adopt it.

That's just people who actually spend money on mobile games. Not your everyday uncles and aunties who go to wet market, coffee shops and pasar malam.

This post has been edited by Ramjade: Nov 30 2017, 11:32 PM

The situation you are talking about is Malaysia right now.

However, this thread is about WeChat pay, where the smallest hawker has a QR code for buyers to scan.

So if you open your mind wider, why do you think Wechatpay works in China, but not here?

This post has been edited by howszat: Nov 30 2017, 11:39 PM