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AmBank to launch e-wallet next month
Last update: 31/07/2018

KUALA LUMPUR, July 31 (Bernama) -- AMMB Holdings Bhd (AmBank Group) is expected to launch an e-wallet payment platform next month in cooperation with one of the largest telecommunication (telco) companies in the country.

Group Chief Executive Officer Datuk Sulaiman Mohd Tahir said the e-wallet would enable the telco's subscribers to make payments at more than 50,000 existing merchants.

"An announcement on this will be made in the next month or so," he told a press conference after the company's annual general meeting here today.

Group Chief Financial Officer Jamie Ling said the company would spend part of its annual capital expenditure (capex) amounting to between RM120 million and RM160 million to develop the e-wallet.

"Usually, about 50 per cent of our capex would be used for technology and digitalisation development, and the e-wallet (development) will fall under this allocation," he said.

Moving forward, AmBank Group said digitalisation would be part of its top agenda following the launch of its enhanced Internet banking platform, the all-new AmOnline, on April 13, 2018.

-- BERNAMA

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Source: Bank Negara Malaysia

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