Hong Leong Launches Cashless Campaign For Traders, Starts With Penang Public Markets

hong leong bank
(Image: The Sun Daily)
hong leong bank
(Image: The Sun Daily)

In a bid to encourage more traders to adopt cashless and contactless payment methods for the convenience of their customers, Hong Leong Bank (HLB) has launched the Cashless Lagi Senang campaign.

The campaign will begin with the recruitment of traders from 20 public markets in Penang over the next three months. This is carried out in conjunction with the Cashless Pasar Awam initiative by the Penang state government, which seeks to implement cashless payments at all local public markets and increase the use of digital payments in Penang.

For a start, HLB will adopt five public markets, namely the Kampung Baru, Kepala Batas, Air Itam, Pulau Tikus, and Bagan Ajam markets. The traders will receive a mobile all-in-one point-of-sales (POS) terminal that lets them accept all forms of cashless and contactless payments. These include debit and credit cards, as well as e-wallets such as Boost, GrabPay, TNG eWallet, Alipay, WeChat Pay, and Samsung Pay.

public market traders cashless payments
(Image: Bernama)

“With this all-in-one POS terminal, traders not only benefit from eliminating the need to have multiple physical QR codes to accept payments but also eliminates having to hold large amounts of cash and the hassle of making cash deposits at the bank with the automatic settlement and daily transaction reporting features,” said the bank in a statement.

Furthermore, HLB is also waiving the monthly POS terminal rental fee, set-up fee, security deposit, and the merchant discount rate for the traders to adopt the bank’s digital payment solutions. The offer is valid until 31 December 2020. Traders using HLB’s digital payment solutions will also become the bank’s customers, with access to a full range of financial products and services, digital solutions, loans and financing, as well as mentorship facilities beyond the topics of banking.

hlb domenic fuda
(Image: The Sun Daily)

“Adjusting to the new normal can be challenging, especially when one lacks the resources and know-how. As a bank and financial service provider with a digital-at-the-core strategy, we are committed to support the traders to smoothly adapt to this with simple, seamless and safe digital solutions that are easy for them to adapt and use,” said the group managing director and chief executive officer of HLB, Domenic Fuda.

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