SINGAPORE: Forgotten to bring enough Malaysian ringgit after crossing the Causeway? Customers of DBS Paylah! can instead pay via a UnionPay QR code when travelling to Malaysia and other tourist destinations.
A UnionPay spokesman said on Friday (Mar 17) that its QR code is accepted at over 150,000 merchant terminals across Malaysia.
This includes petrol stations, supermarkets and popular Johor Bahru shopping centres like Paradigm Mall, KSL Mall and The Mall - Mid Valley Southkey, which are frequented by many Singaporeans, a spokesman for DBS added on Saturday.
The UnionPay QR Code is also enabled at over 40 million merchants in 45 markets worldwide, including at many destinations popular with Singaporeans like Australia, China, Hong Kong, Japan, Korea, Thailand and Vietnam and more, the financial services company said.
When paying through the QR code while overseas, the currency conversion will be done automatically through the DBS Paylah! app.
In response to CNA's queries on the exchange rate, a spokesman for the bank said on Saturday: "The conversion is based on the prevailing wholesale interbank rates or the government-mandated rate, as shall be determined by UnionPay.
"Users will be able to view the exchange rate on the PayLah! app, under the 'Review Transaction' page, before making payment."
DBS added that its rates "remain competitive" in regard to its cut of the conversion.