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.
