This article first appeared in The Edge Financial Daily on November 9, 2018

KUALA LUMPUR: Revenue Group Bhd, which has teamed up with Public Bank Bhd to launch an all-in-one digital payment terminal that will be made available from today, expects to rope in two other banks by the end of the year.

Currently, Revenue is involved in three core businesses, namely the distribution, deployment and maintenance of electronic data capture (EDC) terminals, the provision of electronic transaction processing services for credit cards and debit cards, and the provision of solutions and services such as information and communications technology solutions and network infrastructure.

Pointing out that the group is already partnering nine local banks including Public Bank to provide these three services, its managing director (MD) and chief executive officer (CEO) Eddie Ng Chee Siong said Revenue is planning to also deploy its all-in-one digital payment terminal to the rest of the banks.

Additionally, Ng noted that 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.

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

“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,” he said.

“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.

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

Public Bank MD and CEO Tan Sri Tay Ah Lek, in his opening speech at the launch of the platform yesterday, said this 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.

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 of promoting a 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.