Maybank launches cross-border QR payment service

Maybank group chief executive officer of community financial services Datuk John Chong

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has launched its cross-border quick response (QR) payment service for its customers travelling to Singapore, Indonesia, and Thailand as they can now make cashless and instant payment transactions via the MAE app.

In a statement, Maybank said the new offering would enable Malaysians visiting the respective countries to enjoy a cheaper, faster and more convenient payment option through the MAE app.

Maybank group chief executive officer of community financial services Datuk John Chong said the cross-border QR payment service is an essential feature that will facilitate Malaysian travellers’ abroad via the MAE app, as well as tourists coming to Malaysia to conduct cashless payments through their respective country’s currency.

“It also serves as a key to improving efficiency while promoting the digital economy and financial inclusion in the Asean region.

“This is timely as we noticed the significant increase in technological demands among the public as they look for banking solutions that offer unprecedented speed and new levels of convenience while ensuring the safety and security of their transactions, especially post-pandemic,” he said.

The bank’s cross-border QR payment service is made possible through the collaboration between Bank Negara Malaysia and Payments Network Malaysia Sdn Bhd (PayNet). Maybank is also in the works to roll out this payment feature across more countries soon.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Maybank , QR , cross border , John Chong ,


Next In Business News

Wall St set for slight rebound with focus on Fed speakers, economic data
Govt should institute bolder tax reforms to meet deficit target
Ringgit ends slightly higher tracking the positive equity market
Chin Hin triggers MGO after raising stake in Ajiya
ITMAX wins RM111.2mil smart city contract in Johor
PETRONAS, MOL and MISC to jointly develop LCO2 carriers for CCS projects
FBM KLCI snaps losing streak, up 2.02 points
Asian FX range-bound; Indian rupee rises on JPMorgan index inclusion
BOJ keeps ultra-loose policy, dovish guidance on outlook
Bank Negara international reserves amount to US$111.5bil as at Sept 15, 2023

Others Also Read