Visa and Maybank to simplify online shopping with Visa Checkout in Malaysia
Maybank to be the first bank in Malaysia to introduce Visa Checkout
Visa and Maybank today announced plans to launch Visa Checkout, a new payment service that will make online shopping faster and easier for Malaysians.
Once enrolled in Visa Checkout, consumers are no longer required to re-enter their payment, shipping or billing details when making online purchases, wherever Visa Checkout is accepted. Visa Checkout can be used across multiple platforms and devices such as online, mobile and in-app payments on a smartphone, PC, or tablet.
Ng Kong Boon, Visa Country Manager for Malaysia said: “Online shopping has become an integral part of our lifestyles with Visa research  showing Malaysians spend an average of five and a half hours daily online, or about 40 minutes more than the Asia Pacific average. Our research also shows that 83 per cent of Malaysians have shopped online in the last 12 months and we are the most frequent shoppers on overseas websites compared to all other countries across Southeast Asia.
“With eCommerce growing close to four times faster than traditional commerce  we believe Visa Checkout will improve the online shopping experience for all Malaysians and we’re proud to be working with Maybank as the first issuer to introduce this service in the country.”
Visa Checkout securely stores a cardholder’s details allowing them to simply provide their username and password to complete the payment process in just a few clicks - without ever having to leave the merchant’s website.
“We are pleased to partner with Visa to be in the forefront of innovation and introduce relevant products and solutions to our cardholders in Malaysia. In the last 12 months, we have launched several first-in-market products and services such as Visa Maybank Watch2Pay and Maybank Visa payWave Micro Tag. Maybank will be the first issuer to offer Visa Checkout to our cardholders and we believe that this service will enable our cardholders to have a better online shopping experience. We will work closely with Visa to launch this service to our cardholders,” said Maybank Group Head of Cards & Wealth, Mr. B Ravintharan.
From today, Maybank customers will be among the first in the South East Asian region to be able to enrol in Visa Checkout at www.maybank.com.my and local retailers will be added in the coming months.
More specific details about Visa Checkout’s early momentum and its continuing global expansion are available at http://visatechmatters.tumblr.com/.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
Maybank – Humanising Financial Services
Maybank is among Asia's leading banking groups and South East Asia’s fourth largest bank by assets. It has been ranked among the World's Top 20 Strongest Banks by Bloomberg Markets for two consecutive years - 2013 and 2014. The Maybank Group has an international network of 2,400 offices in 20 countries namely Malaysia, Singapore, Indonesia, Philippines, Brunei Darussalam, Vietnam, Cambodia, Thailand, Papua New Guinea, Hong Kong SAR & People's Republic of China, Bahrain, Uzbekistan, Myanmar, Laos, Pakistan, India, Saudi Arabia, Great Britain and the United States of America. The Group offers an extensive range of products and services, which includes consumer and corporate banking, investment banking, Islamic banking, stock broking, insurance and takaful and asset management. It has over 47,000 employees serving more than 22 million customers worldwide. (www.maybank.com)