Also the first Malaysian mobile wallet that can store cards issued by both Mastercard and Visa
Kuala Lumpur: CIMB Bank Berhad (“CIMB Bank” or “the Bank”) today announced the launch of CIMB Pay - a lifestyle mobile application (“app”) which is the first to combine secure cashless payments with deals and offers. CIMB Pay enables the Bank’s seven million customers to experience faster, easier and more secure payments at over 1,800 contactless terminal-enabled merchants nationwide, and search nearby location-based deals that could bring real-time, providing instant value to the consumer.
With CIMB Pay, the Bank’s customers can now park all their CIMB Mastercard and Visa credit cards, as well as debit cards in their mobile phone. Users can make payments by simply tapping their phone on any contactless terminal based on Near Field Communication (NFC) technology. The app also has an in-built notification system that alerts customers on nearby contactless terminals as well as any flash deals.
“We are proud that CIMB Pay is the first mobile wallet app that enables consumers to not only make cashless payments, but also allows them to take advantage of lifestyle deals. Combined with the ability to store cards issued by both Mastercard and Visa, CIMB Pay is the leader among similar apps. The launch of CIMB Pay further strengthens our suite of digital offering, reaffirming our position as a customer-centric Bank with cutting edge technology in the region. This initiative also supports Bank Negara’s move to reduce the use of cash in our economy.” said Samir Gupta, CEO of Group Consumer Banking, CIMB Group.
Commenting on the app’s security features, Samir said, “Security and privacy are at the core of CIMB Pay. All card details are tokenised and no information is stored on the devices. Users will also be required to authenticate transactions either using the mobile fingerprint or a six digit PIN.” More functionalities will be added onto CIMB Pay in Q1 2017 such as simplified online payment and express checkout solutions powered by Mastercard’s Masterpass. With Masterpass, shoppers will be able to use their CIMB Mastercard debit or credit card along with the shipping information saved on CIMB Pay to quickly complete online transactions.
“This is an exciting time for us as we look to enable commerce across any device to meet the evolving needs of consumers. Today’s launch with CIMB marks our continued efforts as partners in offering more innovative and secure ways to pay as Malaysians embrace newer technologies in today’s increasingly digital world. By leveraging our secured tokenisation platform Mastercard Digital Enablement Service and global digital payment service Masterpass, consumers in Malaysia can look forward to simpler, safer and smarter digital payments across any device and channel - be it online orin-app,” said Perry Ong, country manager, Malaysia and Brunei, Mastercard.
CIMB Pay is now available for download on Google Play for NFC-enabled smartphones running on Android 4.4 and above.
