Bank Islam offers customers more Internet banking options

KUALA LUMPUR: Bank Islam Malaysia Bhd's Internet banking will soon offer money transfer and cashless payment.

Bank Islam on Thursday inked memoranda of understanding (MoUs) with mobile payment provider BerryPay (M) Sdn Bhd and licensed e-money issuer KiplePay Sdn Bhd.

Participants of the signing ceremony were Bank Islam chief executive officer Mohd Muazzam Mohamed, BerryPay chairman Datuk Dr. Mohd Daud Bakar and KiplePay chief executive officer Tan Kay Yen.

Mohd Muazzam said the partnerships with BerryPay and KiplePay were a testament to its transformation towards becoming digital Islamic bank of choice by end-2021.

“We are creating partnerships that are aimed to enhance customer experience and further drive the country’s cashless society and financial inclusion agenda,” he said.

BerryPay will provide mobile remittance services to serve foreign worker account holders by bridging them through a unique e-banking system of pseudo bank accounts to other banked and non-banked recipients, and vice-versa.

“BerryPay is partnering us to provide end-to-end foreign worker onboarding for plantations, peer-to-peer fund transfers, as well as cross-border payments for its customers,” he said.

Meanwhile, Green Packet Bhd subsidiary KiplePay Sdn Bhd operates a cashless payment gateway for businesses and retail consumers.

"KiplePay will introduce a new payment channel for Bank Islam via QR (quick response), which gives the ability to do mobile reloads and in-app marketing to users,” he added.