KUALA LUMPUR (March 3): Cashless payment solutions company Revenue Group Bhd (KL:REVENUE) said its wholly owned unit Revenue Solution Sdn Bhd has been appointed as an acquirer for Weixin Pay in Malaysia.

Weixin Pay, operated by Tencent, is a widely used payment method, especially among Chinese tourists and businesses, noted Revenue, adding that merchants across Malaysia can now expand their payment acceptance.

“Becoming an official acquirer for Weixin Pay marks a significant milestone in Revenue’s mission to continuously develop and evolve the cashless payments capabilities for our partners and merchants,” said Revenue executive director Teh Chee Hoe in a statement on Monday.

“This partnership demonstrates our commitment to delivering innovative payment solutions that address the evolving needs of businesses and consumers. We are excited to help merchants connect with a broader audience and drive digital transformation in the payments landscape,” he said.

Weixin Pay's assistant regional director for Southeast Asia, David Chong, said the group is confident that this collaboration will bring greater convenience and value to both Malaysian merchants and its users.

Weixin Pay is a mobile payment solution integrated into Weixin, China’s leading communication platform, and supports overseas payment for outbound Chinese travellers. It has expanded its coverage to 74 countries and regions worldwide and boasts over 1,000 overseas partners, connecting more than six million international merchants.

Revenue's share price closed down half a sen at 9.5 sen, bringing the company a market capitalisation of RM57 million.