KUALA LUMPUR (May 29): More than 250,000 merchants have joined Malayan Banking Bhd's (Maybank) Maybank QRPay mobile payment platform.

In a statement, the group said that to date, TGV Cinemas, KK Supermart, 99 Speedmart and Big Pharmacy have joined the payment platform, while McDonald's, Mydin and Starbucks are piloting the payment system at certain stores in the Klang Valley.

Maybank community financial services group chief executive officer Datuk John Chong said the payment platform had been well received since its launch in 2018, with transaction values increasing more than sevenfold year-on-year (y-o-y).

"Maybank QRPay is particularly beneficial to micro SMEs as it is a low-cost solution for cashless payment acceptance. Besides reducing cash handling and providing convenience to their customers, the distinctive advantage which Maybank QRPay offers to its participating merchants is the access to Maybank's large customer base," said Chong.

He added that the bank has over 11 million registered online banking (Maybank2u) users, which present businesses, especially SMEs, a large pool of customers who have easy access to the payment platform.

The group added that a wider variety of merchants are expected to come on board.

To promote its mobile payment platform, the group has introduced its 'Campaign Raya dengan Gaya with Maybank QRPay" that is to run until July 4, 2019. Under the campaign, the bank's customers are able to receive a 31% discount at 600 outlets nationwide when making payments with Maybank QRPay.

In addition, the bank's e-Duit Raya campaign is back and will aim to give away more than RM250,000 in cashback payments to customers who perform e-Duit Raya transactions on the Maybank App or send money via its MAE e-wallet.

The campaign is to last until July 15, 2019.

The counter closed 0.67% or six sen higher at RM9.05 — with 5.61 million shares traded — giving it a market capitalisation of RM100 billion.