Chinese payment company UnionPay International (UPI) and Malaysian bank CIMB have signed an agreement to work together to make payment services better in Malaysia.
In a statement on Wednesday, the two companies said that this partnership will make it easier and more convenient for UnionPay cardholders to make payments, especially in everyday areas like shopping, transport, healthcare, and online shopping.
As part of this partnership, UnionPay will provide CIMB’s merchants with its special security system, helping to make online shopping and digital payments in Malaysia safer and more efficient.
“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 is an important center for new payment technologies in the region, and we’re happy to strengthen our partnership to help make international business and digital payments easier and smoother.
“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 enable 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 work more closely together by building a strong partnership for the future. They also promised to support new ways of working together and extended the visa-free travel period for people from both countries.
To make it easier for people from both countries to use their cards, UnionPay is growing its payment network in Malaysia. Now, more than 90% of local stores accept UnionPay cards.
The partnership will help more CIMB merchants, like gas stations, bus and train ticket counters, big hospitals, highway tolls, vending machines, and parking lots in malls, to accept UnionPay payments. This will make it easier for UnionPay customers to pay and have a better experience.
Malaysia is a great example of how different countries like China, Indonesia, Thailand, Singapore, Vietnam, the Philippines, Cambodia, and Laos can connect and work together to make payments easier between them.
UnionPay is working hard to improve its services for Malaysians living in those countries.
More than 10 million UnionPay cards have been given out in Malaysia. Also, three e-wallets using UnionPay have been created to help connect and work smoothly with local payment systems.
UnionPay has become a popular payment choice for local people when shopping nearby and when traveling to China.
CIMB Group Holdings Berhad is listed on Bursa Malaysia, and by March 31, 2025, its total value was about MYR 88 billion (which is around $20.83 billion).
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