Kuala Lumpur, 18 December 2024 – CIMB Bank Berhad (CIMB), in partnership with Payments Network Malaysia Sdn Bhd (PayNet), has introduced Malaysia’s first payment terminal with automated e-invoice capabilities. This innovative solution streamlines invoicing processes for businesses, including SMEs, while ensuring compliance with the Inland Revenue Board’s (LHDN) e-invoice mandate. The terminal is currently being piloted with select merchants, with a full rollout planned by Q2 2025.
The terminal automates the entire invoicing process, from creation to instant delivery to customers, significantly reducing administrative work. Beyond payment acceptance, it features built-in Point-Of-Sale (POS) functionality that can operate as a standalone system or integrate with existing setups via API. It also generates itemized bills for transparency and includes real-time voice alerts for card and QR transactions, enhancing security and convenience.
Effendy Shahul Hamid, CEO of Group Consumer and Digital Banking at CIMB, shared, “This terminal simplifies compliance and operations for businesses, empowering them to focus on growth. It reflects our commitment to providing practical, future-ready solutions for our customers.”
Azrul Fakhzan Mainor, Senior Director of PayNet’s Commercial Division, added, “Our collaboration with CIMB streamlines operations, minimizes errors, and reduces costs, offering immediate access to e-invoices. This innovation supports SMEs as they scale and contributes to Malaysia’s digital transformation.”
This terminal sets a new benchmark by automating e-invoicing and integrating essential features to meet diverse business needs while supporting Bank Negara Malaysia’s fraud prevention initiatives.
About CIMB
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second-largest financial services provider by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalization of approximately RM86.3 billion as of 30 September 2024. CIMB offers a comprehensive range of banking services, including consumer, commercial, wholesale, transaction, Islamic banking, and asset management.
Headquartered in Kuala Lumpur, CIMB operates in eight ASEAN countries—Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam, Myanmar, and the Philippines—and has market presence in China, Hong Kong, and the UK. With 592 branches and over 33,000 employees as of 30 September 2024, CIMB boasts one of the most extensive retail branch networks in ASEAN. The Group’s investment banking arm is among the largest Asia Pacific-based investment banks, complemented by its treasury, markets, and corporate banking units. CIMB also holds a 92.5% stake in Bank CIMB Niaga in Indonesia and a 94.8% stake in CIMB Thai in Thailand.
About PayNet
Payments Network Malaysia Sdn Bhd (PayNet) is Malaysia’s national payments network, dedicated to enhancing the country’s digital payment ecosystem. Its comprehensive suite of retail payment solutions—DuitNow (QR and Transfer), JomPAY, FPX, MyDebit, MEPS, and IBG—supports widespread, secure, and efficient payment flows. In 2023, PayNet facilitated a total transaction value of USD 1.4 trillion, equivalent to 3.3 times Malaysia’s GDP.
PayNet’s real-time retail QR payments network, DuitNow, is interoperable with domestic schemes in Singapore, Thailand, and Indonesia, enabling seamless cross-border transactions. Committed to fostering innovation, PayNet collaborates with stakeholders to develop secure, efficient, and user-centric payment solutions that cater to the evolving needs of businesses and consumers in Malaysia.
