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CARDS & PAYMENTS | Cesar Tordesillas, Malaysia

Maybank Money Express expected to remit $1.058B


Maybank projects an increase in total remittance from last year's RM2.6 billion to RM3.37 billion or US$1.058 billion in its Maybank Money Express service.

"The service enables Malaysians and migrants to remit cash to 10 countries across the region, including Malaysia, Indonesia, the Philippines, Nepal, Vietnam, Cambodia, India, Pakistan, Myanmar and Brunei," said Executive Vice-President and Head of Cards, Wealth, Payment and Community Financial Services Dexter Tan Beng Kong.

Tan said the growth would be riding on the current sustainable economic growth and increased number of foreign workers in the country. He added that the collaboration essentially provides their customers more access points as well as longer operating hours to send money at their convenience.

"By year-end, we hope to bring this service to Oman, Papua New Guinea and Bangladesh," he added.

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