International Finance

OCBC launches all-in-one digital payment terminal in Malaysia

OCBC payment terminal
Becomes the first foreign bank in Malaysia to do so by collaborating with the Revenue Group

Singapore’s OCBC became the first bank in Malaysia to launch an all-in-one digital payment terminal. It is designed to help businesses accept all types of payments made digitally such as cards and epayment on a single device.

OCBC Bank has collaborated with Revenue Group to launch the new service. The terminal, developed by Revenue Group, will help businesses offer their customers a fast and convenient service experience. Businesses will be able to accept payments through multiple channels involving QR codes, near-field communications (NFC), chip cards, and traditional magnetic strip cards.

In a statement, the bank revealed that the payment device, which is powered by the Android, comes with a high definition colour touch screen display. It also has a super-fast thermal printer that is neatly hidden below to maximise screen usage for customers performing electronic transactions.

OCBC Bank’s head of consumer lifestyle finance Ryan Kong told the media, “The Android-based payment terminal also allows OCBC Bank to maximise the potential of the application, with the option to expand to include features like reward points accumulation and redemption at merchant purchase points. This places us in the forefront of the development of payment technology.”

He added, “OCBC Bank currently has more than 11,000 electronic data capture (EDC) terminals nationwide through a diverse range of merchants spanning a variety of industries including food and beverage, retail, fashion, electronics, telecommunications, and petrol stations.”

Recently, OCBC announced its partnership with Google and its plans to launch an upgraded Google Pay app in Singapore next year. The service, which is in its beta-phase, will allow OCBC customers in Singapore to make account-to-account fund transfer by linking their bank accounts to Google.

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