How to make Alipay QR payments with Touch ‘n Go (TnG) eWallet

Key takeaways: 

• With over 23 million verified users, Touch ‘n Go (TnG) is one of Malaysia’s go-to digital wallets. The eWallet is commonly used for everyday transactions, from paying for public transportation, to shopping at convenience stores, and covering small company expenses.

• TnG also supports international transactions through its partnership with the Alipay app. Businesses can use their eWallet to make Alipay QR payments to suppliers and contractors in Mainland China and other countries by scanning their QR code.

• Airwallex empowers businesses to streamline cross-border transactions to China and 200+ countries by offering bulk money transfer services and high-speed money transfer services via local payment rails in 120+ countries.

If you're a business owner in Malaysia, it's likely that you work with Chinese merchants or import goods from Mainland China. As cross-border trade grows, digital wallets and cashless payments have made paying international vendors easier than before.

Malaysia's leading eWallet, TnG, has partnered with China's popular digital payment platform, Alipay, to enable overseas QR payments to merchants. This allows Malaysian businesses to pay Chinese merchants who use the Alipay app as a payment method.

However, if you need to pay your Chinese employees or suppliers who don’t have a merchant QR code, you'll require a more robust solution that supports international money transfers. In this article, we'll walk you through using Touch ‘n Go eWallet for Alipay payments, its benefits and limitations, and how Airwallex can help you send international transfers more easily.

How can my business benefit from the TnG & Alipay collaboration?

Alipay is one of the most popular payment platforms in Mainland China, and it’s widely used by Chinese merchants to accept cashless payments from their customers. By partnering with Touch ‘n Go eWallet, Alipay has expanded its reach to Malaysia, allowing businesses to transact with their Chinese suppliers via overseas QR payments.

With the TnG eWallet and Alipay app collaboration, sending money from Malaysia to Mainland China is simple. There's no need to download an app or set up a local phone number and bank account in China. Simply use the TnG eWallet to scan your recipient’s QR code and specify the amount, and the payment will be sent to your recipient’s Alipay eWallet.

How to use Touch ‘n Go for Alipay payments

There are two main ways to make an Alipay payment using your Touch ‘n Go eWallet – either by scanning your supplier’s Alipay QR code or by using your own Alipay QR code for the transaction. Here's how each method works and the steps involved.

Option 1: Scan merchant's QR code to pay

Follow these simple steps if you're paying in-person:

1. Open the TnG eWallet app.

2. Change your destination country to China.

3. Tap on the "Scan" icon.

4. Scan your supplier's Alipay QR code with your phone's camera.

5. Enter the payment amount in RMB and confirm the transaction.

If you're paying a Chinese supplier but you’re based in Malaysia, that’s doable as well. Simply ask your supplier to send a photo of their Alipay account QR code. Save the QR code to your phone’s photo gallery. When you're ready to pay in TnG eWallet, select “Scan” and then “Scan QR from Gallery” to upload and process the supplier's QR code.

Option 2: Pay with your TnG QR code

1. Open the TnG eWallet app.

2. Change your destination country to China.

3. Tap the "Pay" icon. Your Alipay QR code will appear.

4. Present your Alipay QR code to your supplier. 

5. Your supplier will enter the payment amount and scan your QR code to complete the transaction.

This method works best when you're in China, as you can easily show your Alipay QR code to the merchant. For overseas transfers, it is recommended to use the previous method, where you scan your supplier's QR code.

Pros and cons of making Alipay payments with TnG eWallet

By partnering with the Alipay app, Touch ‘n Go eWallet makes it easier for businesses in Malaysia to pay suppliers in Mainland China. However, the platform may not be ideal for sending international business transfers that don’t involve QR payments.

Here are some pros and cons of using TnG eWallet for Alipay payments:

Pros

• Real-time currency exchange: TnG eWallet provides real-time foreign exchange conversion with transparent Alipay exchange rates, so you know exactly how much you’re paying. 

• Wide acceptance network: TnG eWallet is accepted at over 10 million merchants in China, and many more across other countries.

• Ease of use: If you're travelling to China, you can rely on TnG eWallet to pay at most places, eliminating the need for carrying cash or multiple cards. 

Cons

• Limited to merchant payments: TnG eWallet only supports transfers to Alipay merchant account QR codes, meaning personal Alipay QR payments or peer-to-peer money transfers are not possible. For instance, you cannot use TnG eWallet to pay employees in China or pay Chinese suppliers who only have a personal Alipay account (and not an Alipay merchant account). Moreover, TnG eWallet is limited if you’re not using it within China. 

• Subject to FX fees: A 1% foreign currency exchange fee will be included in the daily Alipay exchange rate for your international transactions.

• Transaction limits apply: Transactions made through TnG eWallet are subject to transaction limits, including account, daily, monthly, and per payment limits. These limits vary based on your account tier. For Premium accounts, users can send up to 120,000 ringgit per month, while on the other hand, Lite account users have a monthly limit of 2,000 ringgit.

Cost-effective and convenient international transfers with Airwallex

Touch ‘n Go eWallet is a useful tool for making in-person Alipay payments in China, especially if you want to avoid navigating unfamiliar money service platforms or opening a Chinese bank account. However, when it comes to international money transfers, other services offer better global coverage and greater convenience.

One such platform is Airwallex, a global fintech company providing digital services for businesses sending money overseas. Unlike Touch ‘n Go eWallet, which charges a 1% foreign currency exchange fee, Airwallex offers CNY conversions at just 0.4% above the mid market exchange rate, with no hidden fees. You’ll always see the exchange rate and any fees upfront, making transactions transparent and straightforward.

Using TnG eWallet to send CNY to Chinese suppliers can be tricky. Suppliers must provide a merchant Alipay account QR code, as transactions cannot be processed without it. This can be an issue if your suppliers use alternative transfer methods. Moreover, paying employees in China is more challenging, as most only have personal Alipay account QR codes, which are not compatible with TnG eWallet.

With Airwallex, you can easily send CNY to both suppliers and employees in China, without the restrictions of TnG eWallet. Globally, our platform lets you send money to 200+ countries worldwide, making it a great option for businesses working with a global team of suppliers and employees. Using Airwallex, 94% of international transfers go through local payment rails rather than the more expensive and time-intensive SWIFT network. This means that 50% of transfers arrive instantly, and 93% are completed within the same day.

Moreover, you can use Airwallex to send bulk transfers to up to 1,000 recipients in multiple countries in just one transaction, streamlining your payments to employees, contractors, and suppliers across China and around the globe. Unlike Touch ‘n Go eWallet, which imposes a monthly transaction limit of 120,000 ringgit, Airwallex offers unlimited transaction capabilities for transfers to China, giving you the flexibility to handle large-scale transfers effortlessly.

On top of seamless international transfer services, Airwallex offers a suite of financial solutions through our all-in-one Business Accounts. You can open domestic and foreign currency accounts within minutes and start accepting payments in 70+ countries. Our platform also provides multi-currency corporate cards in 60+ markets, along with built-in Expense Management, making it easy for you to manage global company expenses.

Using Airwallex, businesses gain the tools they need to simplify global financial operations and stay ahead in an increasingly interconnected world. Empower your business with effortless and efficient borderless payment solutions today.

Sources:

1. https://www.touchngo.com.my/consumer/international-tourists/

2. https://www.touchngo.com.my/consumer/overseas-travel/travel-scan-pay/ 

3. https://www.touchngo.com.my/consumer/overseas-travel/travel-scan-pay/ 

4. https://support.tngdigital.com.my/hc/en-my/articles/44377142000793-What-is-the-FX-fee-that-will-be-charged 

5. https://www.touchngo.com.my/consumer/overseas-travel/travel-scan-pay/

​​This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).