KUALA LUMPUR (Dec 30): Bank Islam Malaysia Bhd has introduced a new mobile application called SnapNPay, for users to contribute to Sadaqa House -- a social finance initiative that was launched by the bank early this year.
In a statement today, Bank Islam said SnapNpay is a mobile application developed by SnapNPay LLP, which enables the public to make payments using the FPX engines by making use of the information or data listed by the customer (payee) in the mode of QR code or barcode.
Users are only required to download the SnapNPay app from Playstore or Appstore, the latter available from next month.
Bank Islam chief executive officer Mohd Muazzam Mohamed said the best part is one QR code can cater for all 17 FPX banks in Malaysia and thus, it eliminates the need to have multiple QR codes from individual banks and payment is on real time basis.
“Today, we are bringing technology onto our shariah solution, delivering a service that is more aligned with the current digital trend. This initiative is part of the bank’s digital journey to ensure convenience, efficient servicing and high impact with the ease of implementation,” he added.
SnapNPay services will also be extended to iSadaqah platform for customers or the public to make donations to participating mosque and surau, as well as iPBT platform for local authorities for customers to perform payments such as quit rent and assessment fees.
For iPBT, the Shah Alam City Council has already started using SnapNPay as one of their payment collection medium since August.
Sadaqa House is a first-of-its-kind Islamic crowdfunding platform that was launched by Bank Islam on Jan 19, 2018. The fund collected from this digital Islamic crowdfunding will be channelled to realise projects for underserved segments such as health, education and economic empowerment including environment.
The public or bank’s customers may donate any amount into the Sadaqa House account. The fund will then be distributed to those in need who have been identified and selected by Bank Islam’s zakat and charity committee after going through the due diligence process.