Last updated Friday, August 01, 2014 11:31am

For Bank Islam, as the leading modern Islamic banking institution, the only true path to advancement was through innovation. – Reuters picFor Bank Islam, as the leading modern Islamic banking institution, the only true path to advancement was through innovation. – Reuters picKOTA BARU, June 25 — Bank Islam Malaysia Bhd expects the issuance of its Visa debit card in Kelantan to reach 450,000 by year-end, following the launch of its first low-cost payment terminal, mobile point-of-sale (mPOS), at Siti Khadijah Market here.

As of May 2013, Bank Islam has issued 300,000 Visa debit cards in the state.

Managing director Datuk Seri Zukri Samat said mPOS was an initiative approved for use with Visa, thus providing the small businesses in Kelantan with a secure way to adopt electronic payments.

“This (mPOS) will ease especially Kelantan people to shop even in the wet market without carrying cash.

“By promoting this, we expect to issue more Visa debit cards for our customers in the region,” he told a press conference after launching the low-cost payment terminal here today.

Zukri said for Bank Islam, as the leading modern Islamic banking institution, the only true path to advancement was through innovation and the bank welcomed the introduction of the groundbreaking payment facilities such as the mPOS system.

“The implementation of the e-payment facility in Siti Khadijah Market will increase the number of transactions...payment transactions by using cards,” Zukri added.

He also said the introduction of the mPOS system at the market would make it Malaysia’s first traditional wet market to embark on the pioneer programne.

It also marked the geographic expansion of electronic payments beyond metropolitan cities in the country.

He said by utilising the latest technology, Bank Islam provided a number of innovative facilities that meet customers demand, in addition to contributing to the growth of the Shariah-based financial industry.

Commenting on the next location to implement the mPOS system, Zukri said that Bank Islam was expecting to apply the system in Johor Baru as the next location, along with another two main cities in Peninsular Malaysia.

“We will see how the acceptance of people is regarding this system and then we can discuss further how many places we can implement this,” Zukri said. – Bernama