From left: CIMB Malaysia and CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu, CIMB head of consumer banking Malaysia Daniel Cheong, UnionPay International (SEA) managing director Jian Jiangtao China UnionPay chairman Dong Junfeng and UnionPay International chief executive officer Larry Wang.
KUALA LUMPUR: CIMB Bank Bhd has signed a memorandum of understanding (MoU) with UnionPay International (UPI) to enhance payment services in Malaysia.
In a statement today, CIMB said the collaboration aims to improve the payment experience for UnionPay cardholders, particularly in high-frequency sectors such as retail, transportation, medical care, and e-commerce.
The bank said that UPI will also equip CIMB’s merchants with access to its proprietary security authentication service, thereby optimising Malaysia's e-commerce and digital payment acceptance environment.
CIMB chief executive officer Gurdip Singh Sidhu said the collaboration underscores the bank’s commitment to advancing payment solutions that provide customers with greater convenience and growth opportunities.
"The partnership with UPI enables broader ASEAN-China and global solutions coverage, providing customers with improved access and security, especially during cross-border travel and trade," he added. - Bernama
