Ant Financial Enters Malaysian Market Via 7-Eleven Partnership

Ant Financial Services Group, the financial affiliate of Chinese Internet giant Alibaba Group Holding Ltd., has entered the Malaysian market via a partnership with U.S. based convenience store chain 7-Eleven. Under the agreement, 2,100 7-Eleven stores in Malaysia will accept payments using Ant Financial's third-party online payment service Alipay.

The payment service will be used via Malaysian third-party payment platform MOL and targets Chinese tourists in Malaysia. It will allow Chinese tourists who have Alipay account to pay by scanning QR codes at the retail stores.

Douglas Feagin, vice president at Ant Financial, said the introduction of Alipay will make it more convenient for Chinese tourists traveling overseas, and it is a great chance for local Malaysian merchants to accommodate increasing demand. Alipay is currently available in do...

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