EOS Systems Sdn Bhd recently became the first official merchant acquirer appointed by Hong Leong Bank Berhad (HLB) for WeChat Pay, a cashless payment system for online and in-store transactions within China’s top messaging app, WeChat.

EOS Systems also provides both online and offline WeChat marketing services and solutions that help transform the way Malaysian companies market themselves through their WeChat Official Accounts (OA) to both local and international consumers.

“As the first WeChat Pay merchant acquirer for Hong Leong Bank in Malaysia, EOS Systems is now in a unique position in supporting the HLB’s digital aspirations by delivering marketing services and digital solutions to help grow local businesses at an accessible cost.

“As demand continues to grow for cashless transactions, so will the number of retail transactions passing through this platform.

“We believe that strong presence on WeChat gives local retailers a cost-effective method of having greater exposure to a wider market. Enabling WeChat pay allows them to capture this potential,” said EOS Systems chief executive officer, Leong Khai Ric.

Usage of both RMB Cross-Border payments which mainly cater to tourists from China as well as for local WeChat Pay (MYR) transactions are on the upwards trend, spurred by the ease of use, availability of RM WeChat Wallet and WeChat popularity among younger consumers.

In Malaysia, there are more than 20 million active users, of whom more than 85 per cent are aged between 18 and 35.

Malaysia is the first country outside of China and Hong Kong where WeChat Pay users could use local currency for payment, and HLB’s customers were the first users outside of those jurisdictions to be able to link their debit cards to the e-wallet for local transactions.

EOS Systems provides all-in-one payment terminals and systems to merchants for online and retail outlet transactions.

It also provides marketing services to help merchants who are tapping on the huge pool of WeChat users in Malaysia through a one-stop platform for marketing, promotions and loyalty programmes.

EOS Systems provides back-end services from the creation of merchants’ OAs, to OA customisation and the development of “mini-programmes”, enabling merchants with an effective centralised customer engagement platform.

OAs operate as merchants’ and brands’ official presence on WeChat and are used to interact with consumers.

By partnering with Hong Leong Bank, as a leader in the digital banking space and pioneer in the WeChat Acquiring business in Malaysia, EOS System is in an advantageous position to further enhance cashless payment initiatives within the local retail industry.

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