HLB appoints EOS Systems as its first merchant acquirer for WeChat Pay
By Digital News Asia February 27, 2019
- Support HLB delivering solutions to help grow local businesses at an accessible cost
- Presence on WeChat gives retailers a cost-effective method of accessing a wider market
EOS Systems Sdn Bhd recently became the first official merchant acquirer appointed by Hong Leong Bank Bhd (HLB) for WeChat Pay, a cashless payment system for online and in-store transactions within China’s messaging app, WeChat.
EOS Systems, an IT and marketing services company, 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 to support HLB’s digital aspirations by delivering marketing services and digital solutions to help grow local businesses at an accessible cost,” said EOS Systems chief executive officer Leong Khai Ric.
“As demand continues to grow for cashless transactions, so will the number of retail transactions passing through this platform. We believe that a 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,” he added.
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% 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 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.