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CIMB Group Holdings Berhad (MYX: 1023) is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high growth economies in ASEAN. CIMB Group is an indigenous ASEAN investment bank. CIMB has a wide retail branch network with 1,080 branches across the region. [4] CIMB Bank Jalan Bendahara branch premises, Malacca City, Malacca.
In July 2012, Touch 'n Go announced a collaboration with CIMB and Maxis to create an NFC-based online transaction service, which can be used on NFC-enabled smartphones and allow users to make payments via NFC. [9] Touch 'n Go merchant touchpoint. Touch 'n Go relies on QR codes to make a payment.
The Touch 'n Go Zing Card is a companion card (works as a generic card) that is linked to Visa, MasterCard or American Express issued by participating banks in Malaysia. Each time the card balance falls below RM50, it triggers the auto-reload mechanism to reload RM100 onto the card.
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s.
Three main functions can be used, namely ATM (with various combinations of banking transactions), e-debit (online purchase payment) transactions at participating merchants and MEPS Cash (a stored-value card that can be used to pay at participating merchants). MEPS is a member of the Asian Payment Network (APN). [1]
CIMB Bank Philippines was established in December 2018 and officially launched in 2019 as an all-digital banking presence. Its mobile app is called OCTO and users are able to open their accounts and manage transactions through the platform. CIMB was awarded the Best Digital Bank 2021 by the Global Banking and Finance Review. [13]
The time when a transaction is valid can be called the transaction time-period. It is a technical timeline controlled by a integration layer (for example a data warehouse ). [ 1 ] More formally, it is the point-in-time during which a fact stored in the database is considered to be true.
Real-time posting systems may still need to support batch processing. Batch processing is attractive for some processing as it is a cost-effective means to process large groups of items. Examples of those batches would be check (cheque) clearing files or payment exchange files.