Maybank introduces mobile banking app to Cambodia

PETALING JAYA: 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 had 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 yesterday.

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