Latest news with #BeenaPothen
The Star
2 days ago
- Business
- The Star
Digital payments to surge in Malaysia
KUALA LUMPUR, July 23 (Xinhua) -- Digital payment adoption is set to surge in Malaysia, with more consumers likely to use emerging digital payment methods in the next year, a new research conducted by Mastercard showed. The research, which surveyed consumers across the globe on payment preferences, has found that some 63 percent of Malaysian consumers prefer using new and innovative methods such as Tap & Go mobile payments, biometric payments, QR codes and mobile wallets, over traditional methods like cash or manual card entry, reflecting a widespread appetite for innovation. The research showed that Malaysian consumers are among the most enthusiastic to embrace payment innovation, as 93 percent are likely to use five or more payment methods in the next 12 months. While cash is still Malaysia's most used payment method, 70 percent of consumers used it in the last year, narrowly edging out QR code payments with 64 percent, usage of digital payment methods is set to rise in the next year. This preference for innovation applies to other emerging technologies as well, with 89 percent of Malaysian consumers saying they are keen to use artificial intelligence (AI) to manage their finances, particularly for fraud detection, payment automation, product personalization, and predicting financial outcomes. Meanwhile, as payment options grow, consumers are seeking hyper-convenient ways to manage money that fit seamlessly with their digital usage habits, the research revealed. It highlighted they want flexibility to customize how they pay, tapping into digitally native methods like peer-to-peer or peer-to-merchant payments, QR codes, wearables, and social commerce. "These findings reaffirm that the digital evolution in payments has firmly taken center stage in Malaysia. With digital-first and mobile-first lifestyles shaping consumer behavior, innovation and security in payments will be key to sustaining this momentum," said Beena Pothen, country manager of Malaysia & Brunei at Mastercard.
New Straits Times
14-07-2025
- Business
- New Straits Times
KTMB powers ahead: Rail giant ink deals with Capital A, Mastercard
KUALA LUMPUR: Keretapi Tanah Melayu Berhad (KTMB) is ramping up its digital transformation with decisive moves set to redefine Malaysia's rail sector and position the national operator as a mobility-as-a-service (MaaS) leader in Asean. The rail giant has signed two memoranda of understanding (MoUs) with Capital A Bhd and Mastercard – strategic partnerships designed to accelerate digital integration, enable secure, cashless payments, and unlock greater value for passengers. Under its tie-up with Capital A, KTMB will integrate rail and air travel under a single digital ecosystem via its fly rail platform. The initiative will first connect KTMB's rail services with Senai Airport in Johor before expanding to domestic and cross-border routes, creating a smoother door-to-door travel experience. The collaboration will also link KTMB's rail rewards loyalty programme with AirAsia Rewards. This paves the way for passengers to earn and redeem points seamlessly across rail and air travel – a strategic step towards smarter, more rewarding journeys. KTMB's pact with Mastercard will fortify its payment infrastructure, enhancing the security, speed and convenience of digital transactions across its 1,655 km railway network, which covers 84 stations and 68 stops throughout Peninsular Malaysia. The national operator's services include ETS, KTM Intercity, KTM Komuter and KTM Kargo freight services. Taking its digital drive a step further, KTMB has launched KITS Style, Malaysia's first digital lifestyle app by a rail operator, a milestone that sets a new regional benchmark for MaaS innovation. Passengers can now plan journeys, book rail, flights, hotels, attractions and car rentals, and manage insurance, utility bills, money transfers, mobile top-ups and exclusive lifestyle offers – all from a single app. A key game-changer is the launch of the KITS Style Prepaid Mastercard, Asean's first open-loop prepaid transit card introduced by a rail operator. This open-loop transit card is a first for Malaysia and Asean, made possible through strong collaboration between KTMB, MPay, and Mastercard, said Transport Minister Anthony Loke Siew Fook. "This partnership between KTMB and Capital A unites two transportation giants, promising a significantly enhanced experience for all users. Together, we are shaping a more digital, connected, and sustainable future for public transport," he said in a statement. Beena Pothen, Mastercard's country manager for Malaysia and Brunei, added that the partnership aims to make the daily commute "simpler, faster and more secure", raising the bar for digital payment standards in Malaysia's transport sector. KTMB's aggressive push into digitalisation is set to strengthen its value proposition for its 4.6 million existing app users and attract new customers seeking convenience, flexibility and integrated lifestyle solutions on one seamless platform.
New Straits Times
07-05-2025
- Business
- New Straits Times
Bank Rakyat launches Mastercard Touch Card for visually impaired
KUALA LUMPUR: Bank Rakyat has partnered with Mastercard to roll out the Touch Card feature across select cards, marking a major step forward in financial accessibility for visually impaired individuals in Malaysia. This move also makes Bank Rakyat the first Islamic bank in the country to offer this inclusive card solution. The Mastercard Touch Card is uniquely designed with tactile notches on the side of the card to help blind and partially sighted individuals easily distinguish between debit, credit, and prepaid cards. A rounded notch represents debit cards, a square notch indicates credit cards, and a triangular notch signifies prepaid cards. This feature also helps ensure the card is correctly orientated when used at ATMs or payment terminals. Bank Rakyat's chief executive officer, Ahmad Shahril Mohd Shariff, said the introduction of the Touch Card reflects the bank's commitment to enhancing banking experiences for all Malaysians, including those with visual impairments. "Financial services should be inclusive and accessible to everyone. Through our collaboration with PERTIS and Mastercard, we have integrated the Touch Card feature into selected card offerings to meet the specific needs of the visually impaired community, going beyond compliance to deliver solutions that genuinely improve everyday banking," he said in a statement. As part of the initial rollout in April 2025, the Touch Card feature has been implemented in two card portfolios: the Bank Rakyat Muslimah Credit Card-i, featuring a square notch, and the Bank Rakyat Debit Card-i, with a rounded notch. This initiative follows consultations with the Persatuan Orang-Orang Cacat Penglihatan Islam Malaysia (PERTIS), which provided insights into the daily challenges faced by the visually impaired when using bank cards—especially with the shift towards flat card designs that lack embossed text. According to the Department of Statistics Malaysia, nearly 64,000 people in the country are visually impaired. Globally, the World Health Organisation estimates over 2.2 billion people live with visual impairments. Mastercard Malaysia and Brunei country manager Beena Pothen said the collaboration is part of Mastercard's broader goal of building a more inclusive digital economy. "The integration of Mastercard's Touch Card design with Bank Rakyat, the first Islamic bank in Malaysia to adopt this feature, reflects Mastercard's dedication to working with like-minded partners globally to enhance accessibility and inclusivity. "Today, Mastercard is excited to put this simple but very meaningful design solution at the fingertips of Malaysians," he said.
New Straits Times
30-04-2025
- Business
- New Straits Times
Bank Rakyat introduces notched cards for visually impaired users
KUALA LUMPUR: Bank Rakyat has introduced a new tactile feature on selected cards to help blind and partially sighted customers identify their debit, credit and prepaid cards by touch. The Mastercard's Touch Card feature includes notches on the short edge, rounded for debit, squared for credit and triangular for prepaid, allowing users to distinguish between them without needing sight. Bank Rakyat will apply the feature to two cards namely the Muslimah Credit Card-i, which will have a square notch and the Debit Card-i, which will have a rounded notch. Chief executive officer Ahmad Shahril Mohd Shariff said the initiative follows consultations with the Malaysian Islamic Association of the Visually Impaired (Pertis). "This reflects our commitment to making banking more accessible to all Malaysians," he said in a statement today. "We worked with Pertis and Mastercard to better understand the needs of the visually impaired and deliver solutions that address real challenges," he added. The first 30 Pertis members to receive the updated cards will be given a RM200 incentive via the Bank Rakyat Debit Card-i. Mastercard Malaysia and Brunei country manager Beena Pothen said the Touch Card offers a "simple and intuitive way" for visually impaired individuals to identify their cards and enjoy the convenience and security of card payments.
