Ambank Islamic-Indah Water tie-up to boost JomPay transaction volume

Ambank Islamic Bhd expects its transaction volume via JomPay to increase four-fold in the next three to six months through their partnership with Indah Water Consortium (IWK).

Ambank Islamic and IWK today signed an agreement with JomPay to make it easier for customers to pay their IWK sewerage bills.

Ambank Group Chief Executive Officer, Datuk Sulaiman Mohd Tahir, said the group targeted to grow its JomPay transactions to between RM50 million and RM60 million in the next three to six months from the current RM35 to RM40 million.

"The number of transactions recorded via JomPAY has grown from 8,000 per month in September last year to 40,000 per month today from our previous partnerships.

"The value of transactions is RM40 million per month since January. We hope this trend will continue... RM50 million to RM60 million per month will be good," Sulaiman told reporters after the signing ceremony here today.

The agreement between Ambank Islamic and IWK was signed by Ambank Islamic Chief Executive Officer Eqhwan Mokhzanee and IWK Acting Chief Executive Officer Mohamed Haniffa Abdul Hamid.

JomPay is an e-payment service that is available at all banks in Malaysia and thus gives an increased convenience and security to all consumers.

He said the agreement among Ambank Islamic Bhd, IWK and JomPay would enable consumers to pay their IWK sewerage bills via JomPay through e-channels of banks in Malaysia without any transaction fees.

JomPAY is Malaysia''s national bill payment scheme established and operated by Malaysian Electronic Clearing Corporation Sdn Bhd , with the participation of banks and a growing number of over 1000 billers.

Meanwhile, Ambank is positive on the group''s performance in the second half of this year with improved consumer spending. -- Bernama