Friday, March 24, 2023

AmBank and Digi partner on mobile cashless payments, vcash

AmBank (M) Berhad (AmBank) and Digi Telecommunications Sdn Bhd (Digi) announced an ‘e-payment partnership’ today which takes on a two-pronged approach.

digi ambank vcash epayment
L-R Praveen Rajan, Chief Digital Officer, Digi; Goh Mei Lee, Group Chief Transformation Officer, AmBank Group; Eugene Teh, Chief Business Officer, Digi; Dato’ Sulaiman Mohd Tahir, Group CEO, AmBank Group (centre); Albern Murty, CEO, Digi; Datuk Iswaraan Suppiah, Group Chief Operations Officer, AmBank Group; and Lenon Cheong, Head, Cards and Merchant Services, AmBank (M) Berhad.

Firstly, AmBank’s merchant point-of-sale (POS) terminals will be enabled to accept Digi’s vcash QR code transactions. This allows vcash users to pay for their transactions via the Digi vcash mobile app. vcash users only need to scan the QR code to pay.

Secondly, Digi will be signing up small and mid-sized enterprise (SME) merchants under the Master Merchant programme with AmBank. This will translate to more merchants accepting vcash payments, while growing AmBank’s merchant base, the companies said.

“This strategic tie-up with Digi complements our efforts in broadening our product offerings to existing merchants as well as new merchants, while staying relevant and competitive in the digital landscape. It is also part of our ongoing efforts to support Bank Negara Malaysia’s agenda to accelerate the country’s migration to electronic payments (e-payments) as we move towards becoming a cashless society,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.

“In advancing eWallet payment technology, we are working on more strategic partnerships to offer wider acceptance to our customers. We embrace and appreciate these technology companies by complementing their product with our service,” added Dato’ Sulaiman.

“Meanwhile, we will soon be introducing eRemittance promotions for our customers to remit money to their children studying abroad at affordable fees. As part of AmBank’s digital transformation journey, we are designing and implementing numerous new solutions with our customers in mind – to make their online banking experience with us much more convenient, value-added and seamless,” he said.

Digi Chief Executive Officer Albern Murty said, “Partnering AmBank to roll out seamless payment experiences on a smartphone via vcash and POS terminals will benefit end users with the convenience of paying with their smartphones, and offer more merchants the security of accepting e-payments. Our aim is to continue playing a key role in advocating and educating Malaysians on the ease and safety of going cashless by providing a simple, convenient solution – vcash – that works for everyone.”

The partnership aims to enable 10,000 terminals in the next 12 months to accept Digi’s e-payment solution.

Kugan is the co-founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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