CIMB Bank has partnered with Payments Network Malaysia (PayNet) to launch Malaysia’s first payment terminal equipped with automated e-invoice capabilities.
The new terminal aims to streamline invoicing processes and help businesses, particularly small and medium enterprises (SMEs), comply with the Inland Revenue Board’s (LHDN) e-invoice mandate.
The service is currently being piloted with selected merchants, with a full rollout expected by the second quarter of 2025.
Integrated into CIMB’s payment terminals for merchants, the system fully automates the invoicing process – from creation to the instant delivery of e-invoices to customers.
This significantly reduces administrative tasks and minimises the risk of manual errors.
The terminal also features real-time voice alerts for both card and QR code transactions for enhanced security.
In addition to its e-invoicing feature, the terminal includes built-in Point-of-Sale (POS) functionality that can operate independently or integrate with existing POS systems through APIs.
Merchants can generate detailed, itemised bills to enhance transparency, while its intuitive interface is designed to simplify operations for both merchants and customers, further improving the overall transaction experience.
Effendy Shahul Hamid, Chief Executive Officer, Group Consumer and Digital Banking, CIMB Group said,
“At CIMB, we understand that implementing e-invoicing can be a challenge due to the complexity of businesses’ current accounting systems and compliance requirements.
To assist our customers, we are pleased to work with PayNet to introduce the first payment terminal with e-invoice capability, driving CIMB’s ongoing commitment to integrating digital innovations into unique propositions for our customers.”
Azrul Fakhzan Mainor, Senior Director of the Commercial Division at PayNet, said,
“By automating e-invoice generation at the point of sale, operations are streamlined, errors are minimised, costs are reduced and customers are able to immediately access their e-invoices, enhancing the overall transaction experience.
It also addresses SMEs’ needs and requirements as they scale up their businesses. This partnership underscores PayNet’s own commitment to driving Malaysia’s digital transformation, enabling both businesses and consumers to navigate the future of payments with efficiency and confidence.”
Featured image: Daniel Cheong, Head of Consumer Banking Malaysia, CIMB (left), and Azrul Fakhzan Mainor, Senior Director of Commercial Division, PayNet (right)
