Boost, a leading regional full-spectrum FinTech arm of Axiata, and Payments Network Malaysia (PayNet), a national retail payments network infrastructure, have announced that Boost merchants in Malaysia can now accept cross-border payments from Thailand tourists via its DuitNow QR.
This new feature makes it easier for tourists to make cashless payments in the country with their own eWallets. Tourists will just need to scan the Boost DuitNow QR code, then receive a request to put in their purchase amount in Malaysian Ringgit (MYR). An automatic conversion will then be deducted from their country’s eWallet.
In the first phase, this feature is currently available for Thai tourists via participating financial institutions mobile payments applications from CIMB Thai, Siam Commercial Bank, Bangkok Bank, Krungthai Bank and Bank of Ayudhya.
“At Boost, we have always been at the forefront of innovating our digital payments solutions to benefit our merchants and provide simplified payment options for local shoppers,” said Sheyantha Abeykoon, Group CEO of Boost. “Today, we are excited to offer this to regional tourists through our collaboration with PayNet’s extensive cross-border payment network. This novel offering in the market will provide our merchants with an edge to widen their network of customers, while tourists can enjoy simplified transactions in their own currency.”