Chinese payment firm UnionPay International (UPI) and Malaysian lender CIMB Bank Berhad have entered into a memorandum of understanding (MoU) to improve payment services in Malaysia.
The duo said in a statement on Wednesday that this strategic collaboration, will enhance the payment experience for UnionPay cardholders, particularly in high-frequency sectors such as retail, transportation, medical care, and ecommerce.
As part of this partnership, UPI will also equip CIMB’s merchants with access to its proprietary security authentication service, thereby optimizing Malaysia’s e-commerce and digital payment acceptance environment.
“UnionPay has been operating in Malaysia for over 20 years,
“This collaboration with CIMB represents an important step in advancing UnionPay’s payment network in Malaysia through inclusive, secure, and interconnected financial infrastructure,” said Dong Junfeng, Chairman of UnionPay International.
“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 added.
Gurdip Singh Sidhu, Chief Executive Officer of CIMB Malaysia and CIMB Bank Berhad, said this collaboration underscores the bank’s commitment to enhancing payment solutions that enables its network of customers greater convenience and growth opportunities.
“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 added.
In April 2025, China and Malaysia agreed to build a high-level strategic China-Malaysia community with a shared future, jointly committing to creating a robust framework for new productivity cooperation, and extending the visa exemption period for residents of the two countries.
In order to better serve the bilateral personnel exchanges, UnionPay continues to expand its payment acceptance environment in Malaysia, with over 90 percent of local merchants accepting UnionPay cards.
The partnership will further expand and deepen the access of UnionPay solutions among CIMB merchants including selected gas stations, transportation ticket counters, major hospitals, highway toll stations, vending machines, shopping mall parking systems, and other key payment merchants, effectively improving UnionPay’s acceptance and customer experience.
Malaysia is a model of payment interconnection and interoperability among countries including China, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Cambodia and Laos.
UnionPay actively improves its service capabilities for Malaysian residents in those countries.
More than 10 million UnionPay cards have been issued in Malaysia, and 3 UnionPay powered e-wallets have been launched to promote interconnection and interoperability with local payment networks.
UnionPay has become a payment brand favored by local residents for local consumption and cross-border travel to China.
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets.
Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalization of approximately MYR 88 billion ($20.83 billion) at March 31, 2025.
The bank offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services.
Headquartered in Kuala Lumpur, the group is present in ASEAN nations in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines.
With over 2,600 partners worldwide, UPI enables card acceptance in 183 countries and regions with issuance in 84 countries and regions.
The firm provides cross-border payment services to the world’s largest cardholder base and ensures local services to a growing number of global UnionPay cardholders and merchants.
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