Mobile Banking increasing in Malaysia

KUALA LUMPUR: According to Maybank, Maybank2u’s Mobile Banking user base had experienced 463 per cent growth in year 2011 if compared with year 2010.

More banks seem started to invest in setting up mobile banking. Besides in line with Bank Negara Malaysia’s direction on building up cashless society, mobile banking is identified by banks as one of the key banking channel must be offered to the consumers due to Malaysia has very high mobile penetration rate in Southeast Asia which estimated 81 per cent of its population owing mobile devices.