Submitted by

Maybank Berhad

Premium
31/08/2017 Banking Innovation
The all-new Maybank2u Pay is Maybank’s first attempt at offering an open API for digital payments to e-commerce merchants, incorporating a fully digital on-boarding process that allows application, document submission, SDK download, etc. to be fully done online.
Innovation details
Country
Malaysia
Category
Wallets & Payments
Keyword
Customer experience, Open Finance & New FS players

Innovation presentation

Being the first bank in Malaysia to introduce Internet Banking in 2000, Maybank aims to be at the fore front in delivering next-generation customer experiences for its Internet Banking products and services. With the growth of e-Commerce in Malaysia, Maybank launched the revamped new Maybank2u Pay in March 2017, aimed at simplifying the Maybank2u Pay application process and reducing the effort for e-Commerce merchants to implement Maybank2u Pay. Maybank2u Pay was originally launched in 2013 as the bank’s proprietary Debit Payment Engine (DPE) that allows e-Commerce merchants to offer their shoppers the option of paying quickly & securely from their Maybank2u account. Traditionally, e-Commerce merchants applied for Maybank2u Pay by submitting application forms at their preferred Maybank branch. Moving forward, we decided to improve the customer experience for our merchants by introducing the new Maybank2u Pay with digital onboarding to make it simpler for our business customers to sign-up for and integrate Maybank2u Pay to their e-Commerce websites and making Maybank the first bank in Malaysia to offer open Application Program Interfaces (APIs) for digital payments.

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