Mydin Mohamed Holdings Berhad (MYDIN) announced the launch of the mobile e-wallet app, MYDINPay, now available for download by customers. This initiative aligns with the Malaysian government’s push for digitalisation and the digital economy.
The launch of ‘MYDINPay’ e-wallet app officiated by the Minister of Digital, YB Gobind Singh Deo, at MYDIN Subang Jaya.
The launch represents the first release of an e-wallet mobile app by a wholesaler and retailer chain in Malaysia, showcasing MYDIN’s exceptional agility and responsiveness to market changes. This proactive approach to embracing digital innovation highlights MYDIN’s commitment to the rapidly evolving fintech landscape.
In conjunction with the launch, MYDINPay offers RM5 vouchers for its first 1,000 app users, while the first 3,000 customers who spend RM150 and above in any MYDIN outlets are entitled to enjoy a 5% cashback rebate.
Datuk Wira (Dr) Haji Ameer Ali Mydin, the Managing Director of MYDIN said,“ MYDIN’s unwavering commitment to innovation drives us to continuously enhance our customers’ daily experiences. The launch of MYDINPay is a milestone in our digital transformation journey. This app not only simplifies transactions but also delivers personalized promotions and benefits to enhance customer satisfaction”.
“With over six decades in the market, we continue to strive and adapt to evolving retail trends and customer preferences. This integration of cutting-edge fintech solutions aims to set a new benchmark for retail convenience and digital engagement,” he said.
The development of MYDINPay was made possible through MYDIN’s collaboration with Wavpay in October 2023. This partnership introduced MYDIN as the first Omnichannel Wallet partner, a program that leverages Wavpay’s established e-wallet infrastructure. This initiative enables partners to create their own apps featuring e-wallet capabilities, thereby facilitating digital transactions and enhancing engagement with their target users.
MYDINPay is powered by Wavpay, an approved e-money issuer committed to transforming the digital financial landscape. Wavpay offers a comprehensive suite of fintech solutions designed to provide individuals and businesses with seamless, secure, and efficient financial services. Its core offerings include an e-wallet platform, digital financing solutions, and a range of complementary digital services.