Maybank QRPay's merchant base expands to more than 250,000

Kalyani Nair , head, virtual banking and payments, Datuk John Chong, group CEO, community financial services (standing) and Datuk Hamirullah Boorhan, head, community financial services, Malaysia showing the Maybank2u app with the updated Raya festive look.

KUALA LUMPUR: Maybank, which launched its cashless mobile payment option using QR codes last year, has expanded the Maybank QRPay network to more than 250,000 merchants nationwide.

This followed the recent addition of major chain outlets, including TGV Cinemas, KK Super Mart, 99 Speedmart and BIG Pharmacy, the country's largest banking group said.

"This is set to increase further as McDonald’s, Mydin and Starbucks are also piloting this mobile payment option at selected stores within the Klang Valley,” it said in a statement today.

Group chief executive officer (community financial services) Datuk John Chong said Maybank was the first bank in Malaysia to offer QR payments, and since its inception, the bank has seen strong
growth in its usage.

"Year-on-year, the transaction value has grown more than seven-fold and with the increasing acceptance among merchants and users, we expect it to continue to multiply this year,” he said.

He said Maybank QRPay is particularly beneficial to micro small and medium enterprises as it is a low-cost solution for cashless payment acceptance.

"Besides reducing cash handling and providing convenience to their customers, the distinctive advantage which Maybank QRPay offers to its participating merchants is the access to Maybank’s large customer base,” he said.

With more than 11 million registered Maybank2u users, the potential for businesses, especially SMEs, is huge as they can leverage the wide pool of customers who have access to our Maybank2u mobile platform, he said.

Maybank QRPay capabilities have also been extended to vending machines as part of the roadmap to enable more friction-free payments in different form factors.

More merchants from different categories are expected to be on board in the coming months. In the pipeline are bookstores, transportation services, parking services and vending machines.

Maybank and its merchants are collaborating to continuously promote the cashless convenience to customers through various incentive and reward programmes.

"For instance, during this festive season, we have introduced our ‘Campaign Raya dengan Gaya with Maybank QRPay’, which runs until July 4, 2019, where Maybank customers can enjoy a 31 per cent discount at over 600 outlets nationwide when they make payments with Maybank QRPay,” Chong said.

To add to the Raya festivities, Maybank’s e-Duit Raya Returns campaign is back whereby more than RM250,000 worth of Raya rewards will be given away in the form of cashback to customers who perform e-Duit Raya transactions on the Maybank app via Raya QR or just by sending e-Duit via MAE e-wallet.

The Raya Returns campaign is live now until July 15 and is expected to hit a transaction value of RM2 million this year. - Bernama