CIMB steps up to encourage usage of e-payment, in support of country’s cashless ecosystem agenda

KUALA LUMPUR, April 25 (Bernama) -- CIMB Bank Berhad (“CIMB” or “the Bank”) today announced that it is waiving the Interbank GIRO (IBG) fee of RM0.11 per transaction and Instant Interbank Fund Transfer (IBFT) fee of RM0.53 per transaction* performed on its online banking platform, CIMB Clicks (www.cimbclicks.com.my), as well as CIMB Clicks and CIMB EVA mobile apps, regardless of transaction amount. The announcement is part of CIMB’s effort to drive the usage of digital payments, in support of Bank Negara Malaysia’s cashless society agenda. 

This will take effect immediately and will benefit all registered users of CIMB Clicks, which last year processed 155 million transactions. Alongside the marked increase in digital transactions for the Bank, CIMB has also seen the usage of cheques drop by 17.5% year-on-year for 2017. 

Samir Gupta, CEO of Group Consumer Banking, CIMB Group said, "CIMB Bank is delighted to offer zero-fee interbank fund transfers via CIMB Clicks and our mobile banking apps to our customers. Over the last three years, we have seen digital transactions grow by a Compound Annual Growth Rate (CAGR) of close to 40%, and mobile transactions by a CAGR of 90%. We are confident the zero-fee fund transfers will encourage more of our customers to switch to electronic payments, while helping to develop Malaysia’s e-payments ecosystem.”

The all-new upgraded CIMB Clicks went live on 17 March. The upgraded platform provides an improved user experience, quick access to accounts and transactions, improved safety and security, as well as personalised offerings and promotions. Since the launch of the new CIMB Clicks, new user registrations have increased over 30% thanks to its simpler navigation and seamless user experience across desktop, tablet and mobile. 

*The transaction rates include GST

About CIMB Bank

CIMB Bank is the consumer banking arm of CIMB Group, offering retail and commercial banking services.

CIMB Group is one of ASEAN’s leading universal banking groups and is Malaysia’s second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, the Group is now present in nine out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar and Laos). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Sri Lanka, Korea, the US and UK.

CIMB Group has the most extensive retail branch network in ASEAN of around 850 branches as at 31 December 2017. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of more than 700 stocks in the region.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.1% shareholder of CIMB Thai in Thailand.

CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM 60.3 billion as at 31 December 2017. The Group has around 38,000 employees located in 15 countries.

SOURCE : CIMB Group 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Suria Zainal
Head
Group Corporate Communications
Group CEO’s Office
CIMB Group Holdings Berhad
Tel: +603 - 2261 0638
Email: suriawati.zainal@cimb.com 

--BERNAMA