Hong Leong Bank (HLB) customers can now pay at more than 120 million UnionPay and Weixin Pay QR merchants in China directly from the HLB Connect app, through a partnership with UnionPay International that the Malaysian bank marked at an event in Kuala Lumpur on October 27.
The feature, HLB QR Pay, went live on October 22. It takes money straight from HLB accounts, so customers do not need to top up a third-party e-wallet, and it works both ways: the customer can scan the merchant code or show an in-app code for the merchant to scan. HLB said it tested the service at locations across China over the past month, and it also works at participating merchants in Hong Kong, Macau and Thailand. The terms set out in the bank’s FAQ:
- No transaction fees on UnionPay QR spending in China
- Up to RM3,000 per transaction and RM10,000 a day, a limit shared with DuitNow QR
Before a trip, customers can convert ringgit into offshore yuan (CNH) through the multi-currency feature of the HLB Pay&Save account and hold the balance. Payments come out of the CNH balance first and fall back to the ringgit account when it runs short. Group managing director and chief executive Kevin Lam said the bank plans to extend the service to more destinations popular with Malaysian travellers.
Why it matters: HLB is competing with the e-wallet route that visitors to China use today, by keeping the payment, the currency conversion and the customer inside its own banking app. Waiving transaction fees while customers lock in a yuan rate before they travel lets the bank keep the foreign exchange business. Other Malaysian banks with China-bound customers now have a direct comparison to answer, whether through UnionPay or a rival network.
Source: Hong Leong Bank media release, October 27, 2026; New Straits Times (Bernama), October 27, 2026; HLB UnionPay QR FAQ
Image: Wiki Farazi, CC0, via Wikimedia Commons
