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ABM Conducts PIN And Pay Engagement Sessions
Last update: 05/06/2017

KUALA LUMPUR, June 5 (Bernama) -- The Association of Banks in Malaysia (ABM) and the National Cards Group (NCG) recently jointly conducted PIN and Pay engagement sessions with business sectors in Johor Bahru and Penang.

In a statement today, ABM said the sessions were similar to those conducted by Bank Negara Malaysia in Kota Kinabalu, Kuching, Kuala Lumpur and Miri.

It said the engagement sessions encompassed dialogues on the use of Personal Identification Number (PIN) for payments using credit, debit, charge and prepaid cards at point-of-sale (POS) terminals.

It was attended by representatives from various trade associations and industries such as food and beverage, pharmaceutical, IT, general retail, travel and tours, and hospitality (hotels).

Representatives from AmBank, CIMB Bank, Global Payments, Maybank and Public Bank were present.

ABM said the participants were reminded that signatures would no longer be accepted for payment verification at POS terminals effective July 1, and cardholders would need to enter their PIN when making payment with their credit, debit, charge and prepaid cards.



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US 4.2250/2270
S'pore 3.1087/1113
100 Yen 3.7399/7427
Sterling 5.5808/5847
Euro 4.9851/9879
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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