UnionPay International (UPI) and CIMB Bank Berhad (CIMB) have signed a Memorandum of Understanding (MoU) aimed at enhancing Malaysia’s digital payments ecosystem. The strategic collaboration will upgrade the payment experience for UnionPay cardholders across key sectors, including retail, transportation, healthcare, and e-commerce.
As part of the agreement, CIMB’s merchant network will gain access to UnionPay’s proprietary security authentication service. The initiative is expected to significantly improve the acceptance environment for digital and e-commerce payments in Malaysia, reinforcing the country’s position as a regional leader in payment innovation.
The MoU was formalized in the presence of senior executives from both organizations. Representing UPI were Dong Junfeng, Chairman of China UnionPay & UnionPay International; Larry Wang, CEO of UnionPay International; and Dr. Jian Jiangtao, Managing Director for Southeast Asia. Gurdip Singh Sidhu, CEO of CIMB Malaysia and CIMB Bank Berhad, along with Daniel Cheong, Head of Consumer Banking Malaysia, represented CIMB.
“UnionPay has been operating in Malaysia for over 20 years. This collaboration with CIMB represents an important step in advancing UnionPay’s payment network through inclusive, secure, and interconnected financial infrastructure,” said Dong Junfeng. “Together, we aim to deliver greater convenience and trust to consumers and businesses across the region.”
Gurdip Singh Sidhu echoed the sentiment: “This collaboration underscores CIMB’s commitment to enhancing payment solutions that provide our customers with greater convenience and growth opportunities. It extends coverage for ASEAN-China transactions and strengthens cross-border security and access.”
The partnership aligns with the broader China-Malaysia bilateral initiative announced in April 2025, where both nations committed to deeper cooperation in productivity, trade, and people-to-people exchanges. Visa exemptions and a growing influx of cross-border travel have amplified the demand for robust payment infrastructure.
Currently, over 90% of Malaysian merchants accept UnionPay cards, with more than 10 million UnionPay cards issued locally. UnionPay has also introduced three UnionPay-powered e-wallets in Malaysia to support interoperability with local payment systems.
Key sectors to benefit from expanded UnionPay coverage under this agreement include gas stations, public transportation, hospitals, toll systems, vending machines, and parking services in major shopping centers.
Malaysia continues to stand out as a model for payment interconnectivity across Southeast Asia. UnionPay has actively expanded its service capabilities not only for Malaysian residents but also for consumers traveling across Indonesia, Thailand, Singapore, Vietnam, Cambodia, Laos, and the Philippines.
This strategic alliance between UPI and CIMB reinforces the nation’s ambition to lead in secure, interoperable digital payment solutions — enabling seamless commerce and financial inclusion at scale.