28th May 2025 - 2 min read
UnionPay International (UPI) and CIMB Bank Berhad (CIMB) have entered into a memorandum of understanding to strengthen payment services across Malaysia. The collaboration aims to improve the experience for UnionPay cardholders, particularly in high-frequency sectors such as retail, transportation, healthcare, and e-commerce.
As part of the agreement, CIMB merchants will gain access to UPI’s proprietary security authentication technology, a move that is set to bolster Malaysia’s digital payment infrastructure and reinforce its standing as a regional hub for financial innovation.
Dong Junfeng, Chairman of China UnionPay and UnionPay International, highlighted Malaysia’s importance to UnionPay’s long-term strategy and described the partnership as a significant milestone in expanding their regional footprint.
“This collaboration with CIMB represents an important step in advancing UnionPay’s payment network in Malaysia through inclusive, secure, and interconnected financial infrastructure. Malaysia continues to be a vital hub for regional payment innovation, and we are proud to deepen our cooperation to support seamless, cross-border commerce and digital transformation. Together, we aim to deliver greater convenience and trust to consumers and businesses across the region,” he said.
Gurdip Singh Sidhu, Chief Executive Officer of CIMB Malaysia and CIMB Bank Berhad, underscored CIMB’s focus on enhancing customer experience and enabling new growth opportunities through innovative payment solutions. “The partnership with UPI allows for greater ASEAN–China as well as global solutions coverage, providing customers with enhanced access and security, especially during cross-border travel and trade,” he said.
The partnership aligns with broader efforts to deepen China–Malaysia ties. In April 2025, the two countries agreed to build a high-level strategic community with a shared future, including extended visa exemptions and frameworks for productivity cooperation.
UnionPay has since accelerated its expansion in Malaysia, where over 90% of merchants now accept its cards. The new partnership will further extend UnionPay’s reach across a range of merchant categories, including petrol stations, transport counters, hospitals, toll booths, vending machines, and parking systems in shopping centres.
Malaysia continues to be a leader in regional payment interconnectivity. UnionPay supports Malaysian consumers not only domestically but also across China, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Cambodia, and Laos. With over 10 million UnionPay cards issued in Malaysia and three e-wallets now operational, the brand has become a trusted choice for both local transactions and cross-border travel.
Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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