EOS SYSTEMS SDN BHD APPOINTED BY HONG LEONG BANK AS MASTER MERCHANT ACQUIRER
From left: Leong Khai Ric (CEO of EOS Systems), Charles Sik (COO of Hong Leong Bank), Albert Tho (Head of PMO & Digital Payment of Hong Leong Bank) & Benjamin Lim (Head of Sales of EOS Systems)
Being the first WeChat master merchant acquirer by Hong Leong Bank in Malaysia, EOS Systems Sdn Bhd (EOS Systems) delivers marketing services to help grow local businesses with minimal cost. EOS Systems is appointed by Hong Leong Bank as WeChat activation partner in merchant acquisition, Official Account creation and customisation, as well as mini program development.
“WeChat is a cost effective way of expanding businesses; by leveraging on WeChat’s demographic segmentation, local businesses are able to gain more exposure to their respective target markets with minimal marketing costs. We foresee that there will be an unprecedented business growth as we continue to acquire more merchants in partnership with Hong Leong Bank.”
Leong Khai Ric, CEO of EOS Systems
Tencent’s WeChat started off with 2.8 million monthly active users in Q2 2011. In Q1 2017, WeChat reportedly had a significant increase to 938 million monthly active users, followed by a further 11% increase in Q1 2018 to 1,040 million monthly active users.
As of late 2017, WeChat reported 20 million active users throughout Malaysia, which is approximately 65% of the 31 million total population.
Hence, Tencent chose Malaysia to be the only country outside Greater China to have a local wallet (MYR) and has appointed Hong Leong Bank as the clearing bank for cross border payments There are two kinds of wallets used in Malaysia, namely local wallet (ie. Ringgit Malaysia) and cross border wallet (ie. RMB) which allows Chinese Tourists the flexibility to spend using WeChat Pay as they would back home in China.