Thursday 28 Mar 2024
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KUALA LUMPUR (Nov 8): Public Bank Bhd has teamed up with Revenue Group Bhd to launch an all-in-one digital payment terminal, which will be made available from tomorrow (Nov 9).

The first all-in-one digital payment terminal in Malaysia, developed by Revenue, will simplify the payment acceptance process as it will enable the physical retail merchants to accept both card payments and mobile wallet payments in a single digital payment terminal. thus providing convenience to them, said Public Bank managing director (MD) and chief executive officer (CEO) Tan Sri Tay Ah Lek in his opening speech.

Noting that the all-in-one digital payment terminal is powered by the Android operating platform, Tay said this digital payment terminal has a wide range of connectivity, including 3G, 4G, WiFi and Bluetooth networks, enabling physical retail merchants to process electronic transactions wirelessly and offer their customers a fast and convenient service experience.

It also generates electronic transaction reports every business day to enhance operational efficiency. 

"The bank will continue with its strategy of increasing its merchant base and adding on more new acceptance services. This is also in-line with Bank Negara Malaysia’s vision to promote cashless society among consumers. The new all-in-one digital payment terminal will enable the bank to provide added benefits to new and existing merchants,” Tay said.

Revenue’s all-in-one digital payment terminals can handle mobile quick response (QR) code payment services, including Alipay, Boost, Touch ‘n Go, UnionPay QR and WeChat Pay, as well as card payments such as Visa, MasterCard, MyDebit, JCB and UnionPay, making payment management simpler and more efficient for physical retail merchants, he added. 

“With the rapid development of payment technologies in Malaysia, the all-in-one digital payment terminal will enable its customers to manage a diverse range of payments more efficiently," said Revenue MD and group CEO, Eddie Ng Chee Siong.

"As Malaysia is moving towards a cashless society, we are committed to developing innovative products and solutions that will help our customers grow their businesses in a fast and evolving operating condition," Ng said.

"The all-in-one digital payment terminal will help our customers to strengthen their payment and cash management capabilities,” he added.

Ng also noted Revenue's partnership with Public Bank, being one of the top three merchant acquirers in Malaysia, is anticipated to be one of the main contributors to the group's double-digit revenue growth target for the financial year ending June 30, 2019 (FY19).

As at end-September 2018, Public Bank has more than 60,000 electronic data capture (EDC) terminals nationwide, Ng said. Hence, this will present opportunity for Revenue to replace these conventional terminals gradually, over the next two years.

At 11.45am, shares of Public Bank were up eight sen or 0.33% to RM24.68, giving it a market capitalisation of RM95.89 billion, while Revenue's shares were four sen or 3.7% higher at RM1.12, valuing it at RM251.82 million.

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