The collaboration is part of AmBank’s digital transformation that promotes cashless transactions and allows merchants to accept credit and debit card payments from customers without requiring a POS or card terminal.
With the help of mTAP, merchants will benefit from easy daily settlements by AmBank, as well as access to a merchant portal to view and reconcile card transactions. Currently, the mTAP feature is available only for Android users with phones with an integrated NFC function enabled.
Through mTAP, AmBank can also consider additional services like PayG, which allows merchants to obtain small loans quickly using their merchant account, and further promote digitisation and seamless payments for SMEs across the country.
Since its official launching at the end of 2020, mTAP counts for over 1,100 merchants, while cashless acceptance is endorsed by the largest global payments processors like Mastercard and Visa.
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