Maybank debuts m-banking in Cambodia

FinTech Innovation editors
FinTech Innovation

Maybank has introduced its mobile banking app in Cambodia as part of efforts to strengthen its presence in the country.

The app is the first in Cambodia to offer augmented reality and a QR code reader. A similar app was launched in Malaysia in 2014.

Maybank group head of community financial services Datuk Lim Hong Tat, who launched the new app in Phnom Penh, said that internet banking has become a trend for many digitally savvy Cambodians who are increasingly comfortable transacting over this channel.

Maybank’s online banking channel, namely M2U, which was introduced in Cambodia in 2012, is seeing robust growth with its registered user base increasing by over 50% within a year, and the volume of transactions has also risen by over 50% from 2014 to 2015,” said Lim.

Lim said that with the launch of mobile banking app, customers in Cambodia will enjoy enhanced customer experience and greater speed when undertaking banking transactions over their mobile phones.

“With the mobile banking app, Maybank customers can check their account balance, including all debit card purchases and perform simple transactions anytime, anywhere, alleviating the need for trips to our branches,” Lim explained.

Other features offered by the app include the ability to send money to anyone with a mobile phone number – such transactions allow for cash to be withdrawn at any Maybank ATM without using an ATM card.

The augmented reality branch locator tool allows customers to scan their surroundings and follow onscreen directions. It also detects nearby ATMs and promotions exclusive to the Maybank customer.

The in-app QR code reader as well as loan calculator is available for public use, even if they are not yet a Maybank customer.

Maybank Cambodia currently operates a network of 21 branches throughout the country complemented by 40 self-service terminals.

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