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

In China, I can only imagine how do they manage the changes when thousands of people if not hundred buying stuff with them .. they might need to carry bags to the nearest banks

WeChat and Alipay in China does not command any transaction fees unless you are moving the cash into your bank account or withdrawing it. Basically most day to day transaction for customers and sellers are FOC.
If they banks here requires a transaction fee, It will die a natural death as many sellers will not be bearing the transaction fee and refusing to accept it. This makes the payment not popular to entice more people to opt for cashless payment.

What bags to the bank? This thread is about small hawkers, and cashless, and small amounts. What bags are you talking about?

Does it? Well this is something new to me to know one of their key successes. It now make sense how they keep growing by the cash they had from its users

Bags as in notes received by the hawkers from their thousands of customer. Just look at the populations in China, theyight just don't have enough time to count and make changes.

That refers to your opinion in why China is a success but not here.

thats is what really can make this method booming.
its kinda like GST, its good but if the execution is bad then wheww...

im really looking forward to both.

No, that's just an assumption. There are big hawkers and there are small hawkers. There are small hawkers with not enough sales to fill bags.

To assume all hawkers have thousands of customers is just not realistic.

You need cash in your bank to make it works. Haha...
So, your cash is still the cash but is in the bank.

Yes I will use them, since I do not to carry my wallet everywhere I go, all I need is a smart phone.

Yeah same here. It is really convenient with just the smart phone when implemented locally here in Malaysia.

looks like cashless era is not far

Oh yeah. It is already at our door step. Just waiting for the international big boys.

I heard their banks are not allow to collect transactions fees of this kind. It is actually a LAW now.

People in advanced country, like japan and Germany, they prefer using cash note.
This is matter of privacy

Pro and cons. You can carry cash, as they offer options, for you to pay via cash too, just that people will find more convenient using cashless.

You don't need carry a piece of plastic like credit card, cash, coins. Just an online account and smart phone.

Technology is here...just embrace the technology.

China speed up fast, leap frog in front in other countries.

Malaysia still talking about high speed rail. To built or not, China in 20 years, already built up the largest high speed rail in world combine.......

Exponential growth......enable by science and technology

Think about it, to goto foreign country, like you visit Singapore, Thailand....you need to exchange the currency, money changer, earn % of the exchange.....you have to change RM to SGD, or keep Thai Baht notes..

In cashless...you just go the country and scan/pay, what you want to buy/spend stuff or pay hotel booking, all using smart phone....the exchange rate will calculate and all minimum charge without bank/money exchanger taking a fee.

The rate also can follow market pricing up to the latest exchange rate...when u scan

Depends. If savings from Alipay are greater than perks from credit cards usage, then switch. Of course, for small transactions where credit cards not available, then use cashless.

+1

This is really easy, good and convenient as it really benefits us as consumers without too much of a hassle.

I trying to adapt to mobile payment...
I see wechat pay mostly only for china usage and currency is RMB which same as Alipay as well..
the next available option is VCash but I don't see a lot shop/merchant adopt to this..
what are the most widely use in Malaysia currently?

Visa and Mastercard.

WeChat Pay and Alipay is already in Malaysia, but still in the very early stage, to only support the China tourist and yet to implement for the local users due to the BNM regulations and exchange rate complication.

Paywave still not many accept it.
Furthermore there is limitation impose by merchant.
Not every amount, merchant allow to use paywave.