Boost, a regional full-spectrum fintech arm of Axiata Group and Payments Network Malaysia (PayNet), said its merchants can now accept cross-border payments from tourists from Thailand via its DuitNow quick response (QR) code.
Boost group chief executive officer Sheyantha Abeykoon said in a statement today that the company has always been at the forefront of digital payment solutions to benefit its merchants and to provide simplified payment options for local shoppers.
With the holiday season approaching, this development will provide Boost merchants with the edge to widen their network of customers, while tourists can enjoy simplified transactions in their own currency with close to more than half a million Boost merchant touchpoints across the country, Sheyantha said.
The statement said Boost aims to include cross-border QR payments acceptance among tourists from Indonesia and Singapore alongside other countries which are within PayNet’s coverage in the coming months.
Boost said that this new seamless transaction feature paves the way for tourists to use their eWallets to make payments without the need for ringgit.
“Tourists will only need to scan the Boost DuitNow QR code, which will automatically recognise the user’s location in Malaysia and will receive a request to put in the amount of their purchase in ringgit. An automatic conversion will then be deducted from their home country’s eWallet accordingly.
“For Boost merchants, they will continue to accept payments in ringgit,” it said.
In the first phase, this convenience will be made available to tourists from Thailand and participating financial institutions mobile payments applications are CIMB Thai, Siam Commercial Bank, Bangkok Bank, Krungthai Bank and Bank of Ayudhya.
Boost said about 200,000 Boost DuitNow QR merchants can be found at popular tourist hangouts in Malaysia.
To encourage more merchants to digitalise and embrace the cashless way of doing business, Boost is currently working closely with the Jonker Walk Association in Malacca in a concerted effort to onboard even more merchants to offer tourists more options.
Boost said the fees to activate the cross-border payment feature will be waived for a limited time. Tap the link here for more information on how to be a Boost merchant. – BERNAMA / pic credit: myboost.com.my