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Sunday, 26 April 2015

Greater convenience with CIMB Bank & Wirecard!


CIMB Bank has recently up the ante in their banking solutions for various merchants with the latest collaboration with Wirecard.
Expect sheer convenience and added fuss-free secured features for e-commerce companies with genuine flexibility and benefits offered for your businesses.


Embarking on a single user-friendly interface that allows merchants to enjoy transactions tracking 24/7 will allow one to reap the benefits of timely & up-to-date status of all the transactions & a better view of the businesses' cash flow.

Gaining More Than Ever!
With a 1 stop payment & banking service, the latest collaboration seeks to offer a multiple card payment acceptance Anytime & Anywhere tailored to each individual business needs. 

How is it so?
Imagine accepting payment straight from a smartphone or a tablet with the latest mobile Point-of-Sale technology.
As an avid online shopper, the constant concern on my mind had always been the security aspect of providing my credit card details via online.
With the mobile Point-of-Sale system, customers can have a peace of mind as transactions can be completed right before their eyes via any cashless mode of payment upon delivery of the goods at the door. 
Instant convenience with the "Swipe Card Upon Delivery" feature!

For a better understanding, the following is an example illustrated for you:


A white connector is attached to a portable device (IPad, Smartphone or Tablet), with a pre-downloaded App (available on App Store & Google Play) in the device, the merchant's account can be accessed after logging into the APP.


The amount and quantity can be keyed manually for each transaction before the very eyes of the customers to ensure total transparency.


Next the credit card are inserted into (for cards that has the micro-chip security facility) or swipe onto the white connector device for the payment authorization.


Upon transacting, the customer's email or contact number are inputed & an e-receipt of the transaction will be sent to the customer.
For the business owners, as consolidated reports of all the deliveries and payments will be provided hence time saved as compared to collating the traditional manual paper receipts.


For business owners, a zero initial deposit is required upon opening of the merchant account therefore one will get to earn competitive higher interest yield in their merchant banking account when they kept their minimum daily balance of more than SGD$3000.

Advocates the notion of "Time is Money".
What's more enticing is that business owners will not fret about cash flow inconveniences and issues as cash from the sales are available into the account the next day for immediate utilization!

Borrowing funds are made easy with the interest-free* credit line provided where businesses can access to ready-funds via the overdraft facility WITHOUT the need to pledge any asset. 

*A 2 tier interest rate scheme: 0% p.a interest is applicable at a max cap in the 1st 65% of the overdraft limit, where 12.88% p.a is applied for the remaining facility limit. Standard processing & monthly fees still applies.


Mr Mak Lye Mun, Chief Executive Officer of CIMB Bank Singapore and Country Head of CIMB Group Singapore:
“The collaboration with a leading financial technology company like Wirecard allows CIMB Bank Singapore to move beyond the conventional operating model of leveraging only our internal infrastructure and capabilities to offer transaction payment solutions to our business banking clients.”

Jan Marsalek, Chief Operating Officer of Wirecard:
“We are delighted to partner with CIMB Bank on introducing combined banking and payment solutions to Singapore. 
We believe that our joint value proposition will drive uptake of electronic payment acceptance amongst the small and medium enterprises.”


Image courtesy of CIMB Bank

About CIMB Bank Singapore
CIMB Bank Singapore was officially established on 29 September 2009 as part of CIMB Group’s longstanding commitment to Singapore – the Group has had a local presence since 1947 through Ban Hin Lee Bank and acquired GK Goh Securities in 2005. Strategically located in the financial centre of ASEAN and operating on a full banking license, CIMB Bank Singapore offers individuals, businesses and corporate clients a comprehensive suite of financial solutions.

CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. 
Headquartered in Kuala Lumpur, the Group is now present in nine out of 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar and Laos). Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Taiwan, Korea, the US and UK.

CIMB Group has the most extensive retail branch network in ASEAN of more than 1,000 branches as at 31 December 2014. CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks, offering amongst the most comprehensive research coverage of more than 1,000 stocks in the region.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. 

CIMB Group is also the 97.9% shareholder of Bank CIMB Niaga in Indonesia, and 93.7% shareholder of CIMB Thai in Thailand.



CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM46.3 billionas at 31 January 2015. The Group has over 40,000 employees located in 17 countries.

Image courtesy of Wirecard AG

About Wirecard
Wirecard AG is one of the world’s leading independent providers of outsourcing and white label solutions for electronic payment transactions. The Wirecard Group has been supporting companies in accepting electronic payments from all sales channels. A global multi-channel platform bundles international payment acceptances and methods, supplemented by fraud prevention solutions. When it comes to issuing their own payment instruments in the form of cards or mobile payment solutions, Wirecard provides companies with an end-to-end infrastructure. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI).


For more information on CIMB Bank & Wirecard collaboration, do click here.
For the latest updates, do follow CIMB Bank Singapore official Facebook Page here!

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