More than 250,000 merchants throughout Malaysia now accept payments using Maybank QRPay, its QR code mobile payment platform, following the recent addition of major chain outlets which include TGV Cinemas, KK Super Mart, 99 Speedmart and BIG Pharmacy.
This is set to increase further as McDonald’s, Mydin and Starbucks are also piloting this mobile payment option at selected stores within Klang Valley.
Dato’ John Chong, Maybank’s Group Chief Executive Officer, Community Financial Services said that Maybank QRPay has been well received since its launch last year. “Maybank was the first bank in Malaysia to offer QR payments, and since its inception, we have seen strong growth in its usage. Year-on-year, the transaction value has grown more than 7 fold and with the increasing acceptance among merchants and users, we expect it to continue to multiply this year.”
Dato’ John added that businesses in Malaysia are becoming increasingly receptive to mobile payments as they recognise its benefits. “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. We have more than 11 million registered Maybank2u users, hence the potential for businesses, especially SMEs, is huge as they can leverage the wide pool of customers who have access to our Maybank2u mobile platform.”
The merchants that are currently using Maybank QRPay range from fast food chains, F&B outlets, universities, fashion retailers, convenience stores, to hypermarkets, beauty centers and small traders. Maybank QRPay capabilities have also been extended to vending machines as part of the roadmap to enable more friction-free payments in different form factors. More merchants from different categories are expected to be on boarded in the coming months with book stores, transportation services, parking services, vending machines and many more in the pipeline.
Dato’ John added that Maybank and its merchants are collaborating to continuously promote this cashless convenience to customers through various incentive and reward programmes. “For instance, during this festive season, we have introduced our ‘Campaign Raya dengan Gaya with Maybank QRPay’, which runs until 4 July 2019 where Maybank customers can enjoy 31% discount at over 600 outlets nationwide when they make payments with Maybank QRPay.”
To add to the Raya festivities, Maybank’s e-Duit Raya Returns campaign is back and will be giving away more than RM250,000 worth of Raya Rewards in the form of cashback to customers who perform e-Duit Raya transactions on the Maybank App via Raya QR or just by sending e-Duit via MAE e-wallet.
“In the spirit of charity and giving, this year Maybank customers can opt to donate their Raya Rewards from Raya Returns or any amount they wish to the beneficiaries under Maybank Heart, Maybank’s crowdfunding platform. We are very pleased that the donation amount has exceeded RM180,000, just slightly a week since the campaign launch.”
The Raya Returns campaign is live now until 15 July 2019, and is expected to hit a transaction value of RM2 million this year.