AEON Bank Taps Visa to Offer Shariah-Compliant Digital Payments

AEON Bank Taps Visa to Offer Shariah-Compliant Digital Payments

by May 6, 2024

AEON Bank has entered into a strategic partnership with Visa to enhance the digital payment and cashless transaction experience for consumers in Malaysia.

This collaboration begins with the introduction of the AEON Bank x Visa Debit Card-i and is set to expand to include a variety of digital payment solutions.

The partnership aims to cater to the increasing demand among Malaysian consumers for secure and reliable cashless and digital banking services that comply with Shariah principles.

By combining Visa’s global expertise in digital payments with AEON Group’s extensive retail and financial network, the partnership aims to deliver comprehensive and seamless digital payment solutions across various channels.

To celebrate the launch, AEON Bank x Visa Debit Card-i users will be offered exclusive rewards and sign-up bonuses for a limited time.

AEON Bank, a part of the longstanding AEON Group, has been serving Malaysian households for over four decades, with a broader history spanning more than 200 years in Japan.

As one of the five entities granted a digital banking license in Malaysia, AEON Bank is gearing up to officially launch its Islamic banking app for retail users in this quarter.

Potential users can register their interest through AEON Bank’s mobile banking app which is available on Google Play Store and iOS App Store.

AEON Bank also plans roll out its services for the business segment in 2025.

Raja Teh Maimunah

Raja Teh Maimunah

“AEON at large and Visa have a long history of impactful partnerships. Therefore, AEON Bank is excited to partner with Visa and optimise on their innovative capabilities in providing secure, easily accessible and convenient banking solutions to meet the demand of local consumers in Malaysia.

 

This would enable our customers to enjoy wide ranging benefits through Visa’s broad network of merchants and partners, while making it possible for us to offer Shariah-compliant solutions to Malaysians from all walks of life,”

said Raja Teh Maimunah, Chief Executive Officer of AEON Bank.

Ng Kong Boon

Ng Kong Boon

“The payments industry, consumer demands and payment technologies are evolving faster than ever. We are excited to partner with AEON Bank and this strategic partnership will enable us to evolve with the changing landscape.

 

By developing the next generation of products and solutions, delivering on our purpose of uplifting everyone, everywhere, we are proud to support the next phase of growth for AEON Bank and transform the way Malaysians pay and be paid,”

said Ng Kong Boon, Visa Country Manager for Malaysia.

Featured image credit: Edited from Freepik