AmBank Partners With Merchantrade Asia To Introduce First-Of-Its-Kind Hybrid E-Wallet

Alex Cheong Pui Yin

26th February 2021 - 2 min read

AmBank has partnered with Merchantrade Asia to roll out a hybrid e-wallet that offers a larger capacity and the ability to tap into the benefits of the bank’s Current Account-i. This is intended to provide a more convenient and cost-effective user experience for eligible customers, reducing the hassle of having to constantly top up their e-wallets.

According to a joint statement by the two parties, the hybrid e-wallet boasts the largest wallet size of RM50,000, and is described as the first of its kind.

“We are indeed very pleased to partner with Merchantrade, as part of our fintech collaboration agendas to develop the first-in-the-market cross-border, multi-currency payment solutions by leveraging on cutting-edge technology and an innate understanding of the market and fast-paced environment we operate in,” said the group chief executive officer of AmBank Group, Dato’ Sulaiman Mohd Tahir.

(Image: The Star)

Sulaiman also added that digitalisation has recently gained a lot of ground because of the Covid-19 pandemic. With various physical distancing and travel restrictions in place, AmBank is striving to transform anything that can be done online or virtually.

The managing director of wholesale banking for AmBank Group, Raja Teh Maimunah Raja Abdul Aziz further said that the bank is highly committed in supporting the digital transformation of the financial and technology sectors. This is in line with Bank Negara Malaysia’s (BNM) endeavour to promote the fintech agenda.

(Image: Malay Mail)

Meanwhile, the managing director of Merchantrade Asia, Ramasamy K. Veeran commented that the company prides itself on offering a more efficient and safer payments experience for customers via innovative tech solutions. “It [the hybrid e-wallet] will allow us to expand Merchantrade’s offering, giving our loyal customers even greater benefits and rewards than ever before. We’re delighted to be partnering with AmBank to enable us to bring this latest in a long run of Merchantrade innovations,” he said.

(Source: AmBank)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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