CIMB AND PAYNET INTRODUCED MALAYSIA'S FIRST PAYMENT TERMINAL WITH AUTOMATED E-INVOICE CAPABILITY FOR SMES

KUALA LUMPUR, Dec 18 (Bernama) -- CIMB Bank Berhad (“CIMB” or “the Bank”), in partnership with Payments Network Malaysia Sdn Bhd (“PayNet”), introduced Malaysia’s first payment terminal with automated e-invoice capability (“the terminal”). This innovation aims to streamline invoicing processes and ensure seamless compliance with the Inland Revenue Board’s (“LHDN”) e-invoice mandate for businesses, including small and medium enterprises (“SME”). The Bank is currently piloting the service with select merchants and plans a full rollout by Q2 2025. Designed with an intuitive interface, the terminal simplifies operations for both merchants and customers, enhancing the overall customer experience whilst reducing the risk of manual errors.

The system is integrated into CIMB’s payment terminals for merchants, fully automating the invoicing process – from creation to instant delivery of e-invoices to customers – significantly reducing administrative tasks. More than just a payment acceptance device, this terminal features a built-in Point-Of-Sale (“POS”) functionality, which also serves as a standalone POS system or be easily integrated with existing POS setups via Application Programming Interface (“API”). It also allows merchants to generate itemised billing for customers, encouraging further transparency. In addition, the terminal provides real-time voice alerts for both card and QR code transactions, which help to improve security and provide added convenience.