Maybank introduces mobile banking app to Cambodia

Maybank has four branches in Greater China, in Shanghai, Beijing, Hong Kong and Kunming.

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has introduced its mobile banking app in Cambodia that integrates augmented reality capabilities and a QR code reader for customers to easily locate the nearest Maybank branch.

Maybank said its latest service in Cambodia followed the continued growth of its internet banking in the country and the success of a similar app introduced in Malaysia in 2014.

Maybank group head of community financial services, Datuk Lim Hong Tat, who launched the new App in Phnom Penh, said that internet banking had become a trend for many digitally savvy Cambodians who were increasingly comfortable transacting over this channel.
 
He noted that usage of mobile phone users in Cambodia has been growing significantly in Cambodia during the last few years, with close to 24.2 million mobile connections in January 2016 in the country of over 15 million population. In addition, there are some 5 million active internet connections.
 
“Maybank’s online banking channel, namely M2U, which was introduced in Cambodia in 2012, is seeing robust growth with its registered user base increasing by over 50% within a year, and the volume of transactions has also risen by over 50% from 2014 to 2015,” Lim said in a statement.

Lim explained that Maybank customers can check their account balance, including all debit card purchases and perform simple transactions anytime, anywhere, alleviating the need for trips to its branches.

“In addition, the app provides added convenience of sending money to a mobile number. The cash can be withdrawn from any Maybank ATM without having to use an ATM card,” he added.
Locally, Lim said that the Maybank mobile banking app in Malaysia had shown significant success with over 1.3 million active users since its launch in September 2014 – and growing at an annual rate of over 12%.
 
He added that the app was one of the many plans within the consumer banking segment for Cambodia and a part of the group’s end-to-end integrated Omni-Channel strategy, particularly in making Maybank the digital bank of choice in the country.

Maybank Cambodia currently operates a network of 21 branches throughout the country complemented by 40 self-service terminals.