Public Bank Berhad in Malaysia is now issuing UnionPay debit cards. The bank is the first local bank in Malaysia that has issued UnionPay cards. The card is particularly designed for the Malaysian residents who frequently travel in Asia, and it can be used in the UnionPay network across 160 countries and regions. Public Bank…
Malaysia’s Berjaya Group has launched the new reward app B Infinite, f/k/a BCARD. The mobile application is powered by Wirecard. Thanks to a variety of loyalty and couponing functions, B Infinite offers a multi-faceted capabilities to its users: functioning as a mobile marketing platform to find out about the latest local merchant flash deals, payment…
NCR Corporation announced that Tesco Stores Sdn Bhd has selected NCR self-checkout technology to bring a faster and more convenient checkout option for its customers in Malaysia. Customers will now have the freedom to scan, bag and pay for goods themselves, without having to wait in long queues.
Malaysia Airlines is taking-off with special deals and benefits for all MasterCard debit and credit cardholders purchasing air tickets. The deals are effective from April 13; the offers will be valid till July 13 for purchase, and the travel period extends to July 31st, 2015.
2C2P payment services provider and Myanmar Citizens Bank launched the Citizen Card, a reloadable prepaid card accepted by MasterCard merchants globally. Supply of the Citizen’s Card will be limited to 5,000 units. Citizen Card can be obtained at any MCB branch in Myanmar. It is also available via the MCB website by filling out an online form. Cardholders will enjoy special benefits with merchant partners, in addition to waived sign-up fees. Existing cardholders can add value to their Citizen Card at any MCB outlet, with more top up options rolling out in 2015. According to McKinsey & Co, Myanmar is expected to quadruple the size of its economy from US$45 billion to over US$200 billion by 2030, with per capita GDP rising from US$1,300 in 2010 to $5,100 by 2030.
The largest private credit reporting agency in Malaysia
will offer FICO Scores to all its clients beginning early 2015.
The CTOS-FICO Consumer Credit Score is created by analyzing the information found in CTOS’s comprehensive credit information database.
MasterCard announced its service to the Muslim lifestyle segment with its Zilzar.com partnership, a Muslim Lifestyle Marketplace platform. Zilzar.com is a business-to-business (B2B) and business-to-consumer (B2C) platform which will provide robust information and content for users, sellers, buyers, and halal certification bodies, engaging them across sectors of Islamic finance, food, travel, logistics, cosmetics and fashion, among others.
Credit card usage in Malaysia grew at a compound annual growth rate (CAGR) of 6.87% between 2009-2013, driven by growing acceptance of card-based payments at POS terminals and on public transport were key factors driving growth.
SWIFT and The Association of Islamic Banking Institutions Malaysia (AIBIM) and the Malaysian Islamic financial community are set to launch a new rulebook for the usage of SWIFT MT messages for Islamic finance. Islamic finance is broadly defined as the financial services designed to comply with the principles of Islamic law. This rulebook will provide greater clarity around SWIFT MT message usage based on Islamic principles in order to enable straight-through processing (STP), thereby improving efficiency as well as reducing risk and cost. It will provide an efficient platform for exchanging Islamic finance messages and further promote the usage of message standards. The SWIFT Islamic Finance Rulebook will be available to the Message User Group (MUG) by the end of 2014, open in all global markets.
Transaction Network Services (TNS) will deploy wireless ATMs for Malaysian Electronic Payment System Sdn Bhd (MEPS). MEPS launched Malaysia’s first non-bank ATM late last year and has ambitious growth plans to roll out the technology across the country, which will see 500 ATMs live by the end of this year and continuous steady growth year on year to 1,580 by 2018 as MEPS rolls out nationwide coverage. TNS will provide its TNSLink solution to handle secure, high-speed transaction transport and ATM communications utilizing advanced encryption algorithms and a PCI DSS certified backbone network.MEPS ATMs support the Malaysian government’s Economic Transformation Programme and Bank Negara Malaysia’s e-Payment Agenda by offering more than just cash withdrawals and balance enquiries. Customers can complete real-time interbank transfers, as well as make credit card and loan repayments.
MasterCard and Lembaga Tabung Haji today unveiled the innovative Tabung Haji Debit-i MasterCard that will allow Malaysian Muslims to use it not only for their pilgrimage in Makkah and Madinah but also for everyday convenience. The launch of the Shariah-compliant card was proudly officiated by the Prime Minister, YAB Dato’ Sri Mohd Najib Tun Razak.
CIMB Bank announced the launch of the Kwik Account, the first account in Malaysia that can be opened online without visiting a bank branch, and is instantly activated upon successful application. It also introduced Kwik Money Transfer, a new feature on its market leading internet banking platform, CIMB Clicks, that gives all CIMB Bank savings and current account holders the capability to send money to anyone’s Malaysian mobile numbers or email addresses instead of account numbers. The Kwik Account is accessible via CIMB Clicks and CIMB Clicks Mobile App on Apple and Android mobile devices. Customers can also easily transfer money into this account online or at any CIMB Bank cash deposit machines.