KUALA LUMPUR: CIMB Group targets to record at least 20,000 merchant downloads by next year for CIMB Tap n Pay – a payment solution that processes debit card transactions using an android mobile device as a payment acceptance terminal.
In a statement, it said CIMB Bank Bhd and CIMB Islamic Bank Bhd have partnered with Payments Network Malaysia Sdn Bhd (PayNet) to introduce the solution.
“The facility is a viable alternative to the conventional point-of-sale terminal, particularly for micro small and medium enterprises, ” the financial services group said.
CIMB Group commercial banking chief executive officer Victor Lee said CIMB’s SME business proposition has resulted in the CIMB-PayNet collaboration under the CIMB SME Transact pillar. — Bernama
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