KUALA LUMPUR (Jan 18): Malayan Banking Bhd (Maybank) said its mobile-banking transaction value exceeded RM24 billion in 2017, as transaction volume more than doubled to 1.2 billion.

Maybank group head of community financial services Datuk Lim Hong Tat said this in a statement today in conjunction with the group's soon-to-be-launched cashless mobile payment option using quick-response (QR) codes. According to the statement, the platform is known as “Maybank QRPay”, which is scheduled to be launched at the Karnival Kewangan Kedah 2018 from tomorrow (Jan 19) until Sunday (Jan 21) at the TH Hotel and Convention Centre in Alor Setar.

Today, Lim said: “Our new QRPay and biometric authentication features in the M2U app are key to providing customers [with] greater flexibility in conducting their digital banking transactions, as well as making cashless payments."

"With our mobile-banking transactions volume more than doubling last year to 1.2 billion, and total transaction value exceeding RM24 billion, we are confident that this new feature will further boost the amount of cashless transactions in the country,” Lim said.

At 12:30pm, Maybank shares settled at RM9.85 for a market value of RM106.32 billion. The stock saw some two million shares traded.