Bank Islam unveils mobile app SnapNPay

Acting chief executive officer, Mohd Muazzam Mohamed(pic), said the bank was on track to achieve its loan growth target of about 8% this year, predominantly from consumer banking segment.

KUALA LUMPUR: Bank Islam Malaysia Bhd has introduced a mobile application (app) called SnapNPay, for users to contribute to Sadaqa House, a social finance initiative that was launched by the bank early this year.

In a statement, Bank Islam said SnapNpay is a mobile app developed by SnapNPay LLP, which enables the public to make payments using the FPX engines by making use of the information or data listed by the customer (payee) in the mode of QR code or barcode.

Users are only required to download the SnapNPay app from Playstore (Android; already available) or Appstore (Apple; available by January 2019) for free with no registration needed.

Bank Islam chief executive officer Mohd Muazzam Mohamed said, “The best part is, anyone can make this transaction, as one QR code can cater for all 17 FPX banks in Malaysia, thus, it eliminates the need to have multiple QR code from individual banks, and payment is on real time basis.

“Today, we are bringing technology onto our syariah solution, delivering a service that is more aligned with the current digital trend.

“This initiative is part of the bank’s digital journey to ensure convenience, efficient servicing and high impact with the ease of implementation,” he added.

SnapNPay services will also be extended to iSadaqah platform for customers or the public to make donations to participating mosque and surau, as well as iPBT platform for local authorities to enable customers to make payments such as quit rent and assessment fees.

For iPBT, the Shah Alam City Council) has already started using SnapNPay as one of its payment collection medium since August 2018.

Sadaqa House is the first-of-its-kind Islamic crowdfunding platform that was launched by Bank Islam on Jan 19, 2018.. — Bernama

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