International company Ant International expedites growth in Southeast Asia via the acquisition of a MSB license in Malaysia for its WorldFirst division.
WorldFirst, a global financial services provider, has received a Class A Money Services Business licence from Bank Negara Malaysia, allowing it to operate in Malaysia. This addition to its 60+ global licences marks an important step in WorldFirst's growth and commitment to Southeast Asia.
With this licence, WorldFirst is now well-positioned to offer Malaysian Small and Medium-sized Enterprises (SMEs) a range of cross-border payment and treasury services tailored to support international trade, e-commerce, and global expansion.
Empowering SMEs with Advanced Financial Services
WorldFirst's offerings under its Malaysian licence include the World Account, a global business account that combines multiple financial functions such as international payments, collections from more than 130 marketplaces (e.g., Amazon, Walmart), foreign exchange conversions, and treasury management—all accessible within a single, streamlined platform. This supports both sellers and buyers in managing international cash flow efficiently.
The company has also established localised operations in Malaysia to provide tailored support for SMEs pursuing global expansion. With dedicated teams for service and compliance, operational efficiency and security for Malaysian SMEs engaging in cross-border trade are significantly enhanced.
In addition, WorldFirst has launched the World Card with Mastercard, a product designed to help SMEs manage spending efficiently while scaling globally. This card offers secure and convenient international spending with benefits including ease of use and efficient spending management internationally.
Leveraging AI and Fintech Innovation
WorldFirst's operations in Malaysia also involve the use of AI-powered tools and fintech innovation. For instance, the AI-based EasySafePay 360 program protects transactions and offers money-back guarantees on unauthorized payments for Alipay+ users, demonstrating WorldFirst's commitment to secure, compliant transaction services.
Supporting SMEs in Southeast Asia
The rapid digitalisation in Southeast Asia is fuelling demand for innovative financial services, with Malaysia emerging as a regional leader. The digital economy in Malaysia is a key growth driver, with e-commerce GMV projected to reach $16 billion by 2025 and $25 billion by 2030.
Malaysian merchants are more actively seeking multi-currency solutions and adopting more diverse payment methods than regional peers. WorldFirst's operations in Malaysia will enable it to expand product offerings and roll out new services, better serving Southeast Asian SMEs with secure, compliant cross-border financial services.
Clara Shi, Vice President of Ant International and CEO of WorldFirst, stated that the licence marks a significant milestone in WorldFirst's commitment to Southeast Asia. She emphasised that this move will strengthen WorldFirst's capabilities in supporting businesses expanding both into and out of the Malaysian market.
In conclusion, WorldFirst’s offerings under its Malaysian licence empower SMEs with comprehensive multinational payment solutions, local support, advanced AI security, and multi-currency account management to accelerate their global business growth securely and efficiently.
[1] WorldFirst. (n.d.). WorldFirst Malaysia. Retrieved from https://www.worldfirst.com/my/ [2] WorldFirst. (n.d.). EasySafePay 360. Retrieved from https://www.worldfirst.com/my/solutions/easysafe-pay-360/ [3] WorldFirst. (n.d.). Multi-currency Accounts. Retrieved from https://www.worldfirst.com/my/solutions/multi-currency-accounts/
- With the Class A Money Services Business licence from Bank Negara Malaysia, WorldFirst can now offer Malaysian SMEs financial services from ffnews.com, including technology-driven solutions like the World Account, World Card with Mastercard, and EasySafePay 360, which utilizes AI to enhance security and efficiency for cross-border transactions.
- As part of its growth strategy in Southeast Asia, WorldFirst's operations in Malaysia also aim to provide tailored services and support for SMEs, leveraging finance and business innovations to adapt to the region's rapidly digitizing economy and meet the growing demand for secure, compliant, and multi-currency financial services.
