KUALA LUMPUR: Malayan Banking Bhd
(Maybank) customers travelling to Cambodia can now make instant KhmerQR retail payments via the MAE mobile application at a low currency conversion fee.
Maybank is the strategic banking partner as well as the sponsoring and settlement bank for the second phase of the cross-border quick response (QR) payment linkage between Malaysia and Cambodia, launched by Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC).
In a statement today, the banking group said the partnership reinforces the bank’s dedication to advancing financial inclusion in the region while supporting BNM’s and NBC’s efforts to foster economic growth in both countries.
Maybank president and group chief executive officer Datuk Khairussaleh Ramli said the successful implementation of this initiative reflects the strong guidance provided by BNM and NBC, along with the close collaboration among key industry players, including Bakong, Payments Network Malaysia (PayNet), and Maybank.
"Over nine million MAE App users can now easily and conveniently make cross-border QR payments, not just in Cambodia, but anywhere across our key markets, including Malaysia, Singapore, Indonesia, Thailand, and China.
"This initiative underscores our commitment to enhancing financial accessibility and mobility across the region, ultimately driving a more connected and dynamic marketplace economy,” he said.
For 2024, Khairussaleh noted that Maybank has recorded a strong growth of 83 per cent in the total value of QR payment transactions compared with the previous year, indicating growing customer confidence and readiness to embrace digital payment solutions.
With Malaysia assuming the ASEAN chairmanship this year, Maybank said it remains dedicated to playing an active role in bridging financial ecosystems across the region, while helping to drive greater financial empowerment and inclusion for its customers. - Bernama
