CIMB expands DuitNow QR payments across five new markets

CIMB Bank Bhd expanded DuitNow QR payments on its CIMB OCTO app to five additional markets: China, Hong Kong, South Korea, the Philippines and Laos. The Malaysian lender said the move takes its stated overseas network to nine markets. CIMB announced the expansion in a Monday statement that disclosed no rollout timetable, merchant roster, transaction limit or fee schedule.

What changed for OCTO users?

CIMB said the five destinations extend an existing cross-border service covering Singapore, Indonesia and Thailand. OCTO users can also make domestic payments in Malaysia. Together, the additions lift the listed overseas destinations from three to eight, an increase of about 167%.

The nine-market wording leaves a counting wrinkle: eight named destinations sit outside Malaysia, while Malaysia makes nine markets in total. CIMB described the network as overseas even though its own list appears to include the home market. Takeaway: OCTO gained materially broader destination coverage, even if the headline market count needs clarification.

How does the cross-border payment work?

The expansion uses outbound DuitNow QR connectivity from Payments Network Malaysia Sdn Bhd (PayNet) through Alipay+. Customers pay participating merchants by scanning a QR code displaying the Alipay+ logo and confirming the transaction in OCTO, CIMB said.

CIMB said: “Customers do not need to download another payment application or register for a separate Alipay+ account to use the service.” The announcement still names no eligible merchant directory, exchange-rate method or cross-border fee, so it does not show the full cost or availability of a transaction.

Customers must still find a participating merchant; the Alipay+ logo is necessary but not evidence of universal acceptance. Takeaway: The setup reduces app friction, but actual use depends on merchant participation and undisclosed operating terms.

How large is the Alipay+ network?

CIMB said the service builds on PayNet’s partnership with Ant International through Alipay+. The bank reported that Alipay+ connects more than two billion user accounts across over 50 international payment partners. It also cited acceptance at more than 150 million merchants in over 220 markets.

Those are network-wide figures, not a count of outlets available to a particular OCTO customer. CIMB did not say how many participating merchants operate in the five new destinations, nor whether every Alipay+ sign supports the outbound flow. Takeaway: The infrastructure is broad, but network scale does not establish local service depth.

The expansion also complements an existing inbound facility that lets users of supported Alipay+ partner wallets pay at DuitNow QR merchants in Malaysia, including small and medium-sized businesses. The arrangement links outbound OCTO payments abroad with inbound wallet payments at home. Takeaway: CIMB is connecting both directions of the Alipay+ corridor, not merely adding five labels to its app.

What do the transaction numbers show?

CIMB said OCTO recorded more than 500,000 cross-border DuitNow QR transactions as of September 2026. Volume rose more than 150% from a year earlier, which places the prior-year total below 200,000.

The September count does not isolate transactions from the five newly added markets. CIMB disclosed no revenue, fee income, customer acquisition cost or profitability figure, so faster volume does not establish that the service is already a material earnings contributor. Takeaway: Transaction momentum is clear, but the economics remain absent from the announcement.

What has CIMB left unanswered?

CIMB said it plans to extend OCTO access to more Alipay+ destinations as it expands its cross-border payment services. Haniz Nazlan, CIMB’s group consumer banking chief executive officer, said the launch was “part of the bank’s Forward30 strategy to simplify and improve everyday banking services.”

The statement offers no adoption targets, merchant-count commitments or service-level promises. Nor did it identify local banking partners, participating merchant names or settlement arrangements for the five markets, leaving customers to rely on app-level eligibility rather than a published coverage list. Takeaway: The next test is whether wider coverage produces repeat use at clear prices and reliable local acceptance.