AmBank and Digi partner to lower barriers for SMEs to adopt e-payments


  • Banking
  • Monday, 06 Aug 2018

KUALA LUMPUR: AmBank (M) Berhad (AmBank) continues to step up its digital strategy by opening up its wide merchant network to accept Digi's vcash QR code as an additional payment service. 

This ‘e-payment partnership' with Digi Telecommunications Sdn Bhd (Digi) takes on a two-pronged approach. Firstly, AmBank's merchant point-of-sale (POS) terminals will be enabled to accept vcash QR code transactions. What this means is that vcash users can pay for their transactions via Digi's vcash mobile app. vcash users only need to scan the QR code to pay.

Secondly, Digi will be signing up small and mid-sized enterprise (SME) merchants under the Master Merchant programme with AmBank. This will translate to more merchants accepting vcash payments, while growing AmBank's merchant base.

“This strategic tie-up with Digi complements our efforts in broadening our product offerings to existing merchants as well as new merchants, while staying relevant and competitive in the digital landscape. 

"It is also part of our ongoing efforts to support Bank Negara Malaysia's agenda to accelerate the country's migration to electronic payments (e-payments) as we move towards becoming a cashless society,” said Dato' Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.

“In advancing eWallet payment technology, we are working on more strategic partnerships to offer wider acceptance to our customers. We embrace and appreciate these technology companies by complementing their product with our service,” added Dato' Sulaiman.

“Meanwhile, we will soon be introducing eRemittance promotions for our customers to remit money to their children studying abroad at affordable fees. As part of AmBank's digital transformation journey, we are designing and implementing numerous new solutions with our customers in mind ? to make their online banking experience with us much more convenient, value-added and seamless,” he said.

Digi's Chief Executive Officer Albern Murty said, “Partnering AmBank to roll out seamless payment experiences on a smartphone via vcash and POS terminals will benefit end users with the convenience of paying with their smartphones, and offer more merchants the security of accepting e-payments. Our aim is to continue playing a key role in advocating and educating Malaysians on the ease and safety of going cashless by providing a simple, convenient solution ? vcash ? that works for everyone.”

The objective of this partnership is to drive growth for SMEs across different industry verticals, that's how easy and adaptable this vcash solution really is - it works for any type of business regardless of its size. The partnership aims to enable 10,000 terminals in the next 12 months to accept Digi's e-payment solution. 

By doing so, Digi and AmBank are able to leverage on their respective fields of expertise and iterate upon existing offerings to provide an innovation that makes sense for SMEs from both a cost and growth perspective. 

Secondly, SMEs adopting these next generation payment terminals are able to future proof their business now, at no additional cost. - Bernama
 
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

Axiata posts RM256mil loss in 4Q, declares 5 sen dividend
Banks, commodity plays shore up KLCI
AmBank partners Merchantrade Asia in hybrid e-wallet venture
Amway to roll out plans for long-term business growth
AirAsia expects Choi to add value to its digital business devt in China
Ringgit stays flat amid lack of catalysts
Semicon and tech stocks rebound
Quick take: Dayang’s shares fall as 4Q profit slumps 83%
Quick take: Permaju shares jump 36% as it returns to black in 2Q
Kenanga maintains 'outperform' on DRB-Hicom

Stories You'll Enjoy


Vouchers