News

Maybank Launches Cross-border QR Payment Service for Malaysians Travelling Abroad and Tourists Visiting Malaysia

Maybank recently launched its cross-border QR payment service for Maybank customers travelling to Singapore, Indonesia, and Thailand as they can now make cashless and instant payment transactions via the MAE app. Similarly, incoming tourists from these countries will also be able to make cashless payments with Maybank QRPay merchants in Malaysia.  

The new offering will enable Malaysians visiting the respective countries to enjoy a cheaper, faster and more convenient payment option through the MAE app. With borders reopening for quarantine-free travels, cross-border QR payments offer travellers the ease to skip trips to money changers and carry cash altogether.  

Similarly, tourists visiting Malaysia whose banks are affiliated with the payment service providers can also benefit from cross-border QR using their local banking apps at Maybank QRPay merchants nationwide. This greatly benefits local participating merchants, as it allows them to receive payments from tourists in Malaysian Ringgit (MYR) into their accounts immediately. 

Dato’ John Chong, Group CEO, Community Financial Services said that Maybank’s intent has always been to create products and services that will provide value and improve the lives of its customers, in line with its purpose of Humanising Financial Services. The cross-border QR payment service is an essential feature that will facilitate Malaysian travellers’ abroad via the MAE app, as well as tourists coming to Malaysia to conduct cashless payments through their respective country’s currency. It also serves as a key to improving efficiency while promoting the digital economy and financial inclusion in the ASEAN region.

“This is timely as we noticed the significant increase in technological demands among the public as they look for banking solutions that offer unprecedented speed and new levels of convenience while ensuring the safety and security of their transactions, especially post-pandemic.

Furthermore, the QR payment linkage between Malaysia, Singapore, Indonesia and Thailand complements a growing network of bilateral payment interdependence that will contribute towards a more dynamic ASEAN and further development of the region.”

This is also part of the Group’s M25+ strategy to strengthen its business presence and position in the region and for Malaysia to provide differentiated businesses and product solutions supported by the modernisation of Maybank’s technological platforms and applications across its key markets. 

Maybank’s QR payment service will provide convenience for more than 8 million Maybank app users and benefit over 700,000 Maybank QRPay merchants in Malaysia. Approximately 3.5 million Malaysian tourists travel to Singapore, Indonesia and Thailand in 2022 alone and with the introduction of Maybank’s cross-border QR payment service, the Group aims to provide them with a reliable service that is seamless and secure.

The Bank’s cross-border QR payment service is made possible through the collaboration between Bank Negara Malaysia and Payments Network Malaysia Sdn Bhd (PayNet). Maybank is also in the works to roll out this payment feature across more countries soon. 

For more information on Maybank’s new cross-border QR Payment Service and the list of participating banks and e-wallet providers, please visit https://maybank.my/crossborderqr

Adib Mohd

Recent Posts

Toshiba Turns 95 with a Giant Fridge, Big Vibes & A Spot in the Malaysia Book of Records

Who says anniversaries are just cake and candles? For Toshiba’s 95th Anniversary Dealer Convention, it… Read More

7 hours ago

Resorts World Sentosa’s Singapore Oceanarium Introduces New Experiences As Ticket Sales Go Live

Resorts World Sentosa (RWS, 圣淘沙名胜世界) has announced that ticket sales have launched for Singapore Oceanarium… Read More

8 hours ago

Barista Brews at Prices You Won’t Believe Exist

Think handcrafted coffee always comes with a hefty price tag? Think again. Across Malaysia, cafés… Read More

8 hours ago

POCO Introduces POCO F7: Where Futuristic Design Meets Exceptional Power

POCO, a leading technology brand among young tech enthusiasts, today unveiled POCO F7, setting a… Read More

8 hours ago

Proton Owners Hit the Road for Wellness: AG Autoworld x Herbal Farmer Flag Off First-Ever Fun Drive in Johor

What do you get when you mix wellness, good vibes, and 30 Proton cars? A… Read More

8 hours ago

OMSMC Earns Spot in Newsweek’s Global Hospital Rating 2025

Oriental Melaka Straits Medical Centre (OMSMC) has been listed in Newsweek’s Global Hospital Rating 2025,… Read More

12 hours ago

This website uses cookies.