by BERNAMA / pic by MUHD AMIN NAHARUL
AMBANK Bhd has collaborated with Maxis Bhd to introduce mTAP, a secure contactless payment solution that particularly caters for small and medium enterprises (SMEs).
mTAP uses a mobile device as a payment acceptance terminal to process debit and credit card transactions via Payments Network Malaysia Sdn Bhd (PayNet).
Group CEO of AmBank Group, Datuk Sulaiman Mohd Tahir (picture), said the solution is a viable and cost-effective option to enable more SMEs to accept card payments.
“We saw that the consumer market, which is now dominated by millennials and Gen-Y, is expecting smarter, faster and more accessible financial services.
“Hence, this is one of our efforts to ramp up the next wave of digital initiatives for our valued merchants and customers,” he said in a statement yesterday.
Maxis’ CEO Gokhan Ogut said the communications service provider has been empowering SMEs to adapt to the rapidly evolving digital landscape by incorporating essential digital solutions and reliable connectivity for their operations.
“With our continued partnership with AmBank, we look forward to not just increasing digital adoption across this important segment, but to further strengthen their position within the digital ecosystem,” he said.
Meanwhile, PayNet group CEO Peter Schiesser said the initiative would contribute towards two of the 15 high-impact programmes pursued by the government, that is “adoption of cashless payments and digitisation of SMEs”.
A mobile-based payment platform, mTAP can be downloaded and used nationwide on Android NFC equipped mobile phones beginning October 2020 via Google Play Store.
Payments are contactless, and no PIN entry is required if the transaction value is RM250 and below.