Malayan Banking Bhd (Maybank) has introduced its cross-border quick response (QR) payment service to cater to its customers traveling to Singapore, Indonesia, and Thailand. Users of the Maybank app (MAE) can now engage in cashless and immediate payment transactions across borders.
According to a statement released by Maybank, this new offering allows Malaysians visiting these countries to benefit from a more cost-effective, expeditious, and convenient payment alternative through the MAE app.
John Chong, the CEO of community financial services at Maybank, highlighted that the cross-border QR payment service is a crucial aspect that will make traveling – and spending – abroad easier by utilizing the MAE app.
The collaboration between Bank Negara Malaysia and Payments Network Malaysia Sdn Bhd (PayNet) has made Maybank’s cross-border QR payment service possible.
Additionally, tourists coming to Malaysia can conduct cashless transactions in their respective country’s currency.
“This feature also plays a significant role in enhancing efficiency while promoting the digital economy and ensuring financial inclusion within the ASEAN region,” Chong emphasized.
He further added, “Given the growing technological demands among the public, especially in a post-pandemic era, individuals are seeking banking solutions that offer unparalleled speed and convenience while prioritizing the safety and security of their transactions.”
Maybank is actively working to expand this payment feature to additional countries in the near future.