Maybank offers cashless service for SMEs

Latest offering: Hamirullah (right) and Ng at the Tap2Phone app launch.

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is upping its fintech game with the introduction of Tap2Phone, an app which enables merchants to accept credit card payments from customers without the need for a point-of-sale terminal.

The nation’s largest bank is the first in South-East Asia to introduce the payment solution, which is supported by the latest Android-based smartphones that are equipped with Near-Field Communication (NFC) and Trusted Execution Environment (TEE) technologies.