22 January 2017
visit http://www.wolterskluwerfs.com

Maybank launches contactless wristbands

08 January 2016  |  9198 views  |  0 MayBank Visa PayBand

Customers of Malaysia's Maybank can now make payments with a wave of the wrist using NFC wristbands developed by the bank in association with Visa.

The smart wrist band uses Visa's PayWave technology to enable contactless payments at more than 1000 locations across the country.

The Maybank PayBands follow the PayWave microtags previously issued by the bank for customers to stick to their mobile phones for contactless payments.

Visa expects the wristbands will be particularly attractive for consumers visiting cash-hungry outdoor events and theme parks.

Visa country manager for Malaysia Ng Kong Boon says: "To be able to drive Malaysia to become a cashless society, it is important that we take steps to displace cash at places that are traditionally heavy on cash, particularly at events and theme parks, where payments, such as entrance fees and drinks, are small ticket payments."

He says there are now over 2.5 million Visa payWave cards in circulation in the country, with a year-on-year growth of 250% in payment volume as of November 2015.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chinese commuters to get contactless wristbands/fitness trackers

Chinese commuters to get contactless wristbands/fitness trackers

10 July 2015  |  7145 views  |  0 comments | 10 tweets | 7 linkedin
Maybank joins hunt for top startup talent

Maybank joins hunt for top startup talent

17 April 2015  |  4721 views  |  0 comments | 6 tweets | 6 linkedin
CaixaBank to distribute contactless wristbands through branch network

CaixaBank to distribute contactless wristbands through branch network

09 October 2014  |  11619 views  |  0 comments | 11 tweets | 13 linkedin
US Bank unveils contactless payment and medi-care wristband

US Bank unveils contactless payment and medi-care wristband

19 July 2011  |  9672 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comhttp://www.financialcrimerisk.fiserv.com/aml?r=finextraVisit capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Banks face big profit loss to digitisation - McKinseyBanks face big profit loss to digitisation...
16778 views comments | 95 tweets | 113 linkedin
Seven banks plan blockchain platform for SMEsSeven banks plan blockchain platform for S...
13012 views comments | 48 tweets | 44 linkedin
Accenture beats Brexit blues with largest-ever London startup programmeAccenture beats Brexit blues with largest-...
11168 views comments | 31 tweets | 20 linkedin
US fintech firms join forces to push data sharing via APIsUS fintech firms join forces to push data...
7885 views comments | 43 tweets | 42 linkedin
HSBC forms tech advisory boardHSBC forms tech advisory board
6639 views comments | 22 tweets | 23 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job