UnionPay International (UPI) and CIMB Bank Berhad have signed a memorandum of understanding to enhance payment services in Malaysia. The collaboration aims to improve the payment experience for UnionPay cardholders, particularly in sectors like retail, transportation, medical care, and e-commerce. UPI will also provide CIMB’s merchants with access to its security authentication service to optimize Malaysia’s digital payment environment.
Representatives from both organizations were present at the signing. UPI was represented by Dong Junfeng, Chairman of China UnionPay & UnionPay International; Larry Wang, CEO of UnionPay International; and Dr. Jian Jiangtao, Managing Director of UnionPay International (SEA). CIMB was represented by Gurdip Singh Sidhu, CEO of CIMB Malaysia and CIMB Bank Berhad; and Daniel Cheong, Head of Consumer Banking Malaysia at CIMB.
Dong Junfeng stated that “UnionPay has been operating in Malaysia for over 20 years,” emphasizing the importance of this collaboration for advancing their payment network through secure financial infrastructure. He highlighted Malaysia as a vital hub for regional payment innovation.
Gurdip Singh Sidhu noted that the partnership underscores “CIMB’s commitment to enhancing payment solutions” and provides greater ASEAN-China solutions coverage. This is expected to offer customers enhanced access and security during cross-border travel and trade.
In April 2025, China and Malaysia agreed on building a high-level strategic community with shared future goals. This included extending visa exemption periods between the two countries. To support bilateral exchanges, UnionPay is expanding its acceptance environment in Malaysia where over 90% of local merchants accept UnionPay cards.
The partnership will expand access to UnionPay solutions among CIMB merchants including gas stations, transportation ticket counters, hospitals, toll stations, vending machines, shopping mall parking systems, among others.
Malaysia serves as a model for payment interconnection among countries such as China, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Cambodia and Laos. More than 10 million UnionPay cards have been issued in Malaysia along with three e-wallets powered by UnionPay promoting interoperability with local networks.
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