KUALA LUMPUR, July 10 -- Hong Leong Bank (HLB) has partnered with Payments Network Malaysia Sdn Bhd (PayNet) to offer small and medium-sized enterprises (SMEs) a simplified and innovative JomPAY biller service called HL ConnectFirst FastCollect (FastCollect).
Group managing director and chief executive officer (CEO) Domenic Fuda said the partnership with PayNet marked another major step forward for the bank in delivering vital digital solutions that are not only secure, simple and seamless to use, but also deliver cost and operational efficiency in the long run.
“With FastCollect, SMEs can sign up as a JomPAY biller quickly and start using the billing and cash collection service.
“This JomPAY onboarding process via FastCollect is 88 per cent more efficient than the normal process, allowing SMEs to collect payments from their customers with greater efficiency so that their time can be used for other areas in the business,” he said in a statement today.
In conjunction with HLB Digital Day 2020, Fuda said customers could try the FastCollect 30 Days trial to experience the new way to bill and receive payment. Further information on this can be obtained via www.hlb.com.my/hlcffastcollect.
Meanwhile, PayNet CEO Peter Schiesser said JomPAY has proven to be an effective solution for many billers and merchants, enabling collection of payments to be done in an efficient and speedy manner.
"Cash flow is the lifeblood of SMEs, and SMEs are the lifeblood of the Malaysian economy. At PayNet, we recognise the importance of providing payment infrastructure that assists our member banks to offer solutions that meet the current needs of their customers and that can be adapted to future innovation," he said.
According to him, JomPAY is Malaysia’s largest online bill payment service with over 6,500 billers encompassing telcos, utilities, government agencies, educational institutions, corporates, SMEs and many other businesses. In 2019, JomPAY recorded more than RM25 billion worth of transactions.
-- BERNAMA
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