ICBC Malaysia Launches New Smart Mobile Banking

ICBC Malaysia had successfully launched the new generation of Smart Mobile Banking on July 28, 2022.

Industrial and Commercial Bank of China Malaysia (ICBC Malaysia) had successfully launched the new generation of Smart Mobile Banking via online video conference on July 28, 2022.

The conference was supported and attended by the Economic and Commercial Office of the Embassy of the People’s Republic of China in Malaysia (“Embassy”) and Payments Network Malaysia Sdn Bhd (“PayNet”).


Representatives from both Chinese and Malaysia’s corporations attended the conference. Ms Yao Yi, the First Secretary of Chinese Embassy in Malaysia delivered a speech on behalf of Minister Counselor Zhang Peidong.

Encik Khairuan Abdul Rahman, the Director of PayNet, Mr. Xu Xiaoqun , deputy General Manager of Financial Technology Department of Industrial and Commercial Bank of China Limited and Mr Xie Shaoxiong, the Managing Director and Chief Executive Officer of ICBC Malaysia also delivered their speech respectively.

Mr. Xu Xiaoqun commented that ICBC is a leading bank in Global Financial Technology and continues to promote the development of E-ICBC ecosystem banking. She added that ICBC Malaysia is one of the earliest and key institutions of ICBC Group in South East Asia in promoting overseas smart mobile banking.

The launch of the new generation of Smart Mobile Banking condenses the latest technological achievements of ICBC Malaysia and also adapts to local conditions to cater for the needs of the local customers as well as establishing a leading edge in the mobile banking industry.

Mr. Xie Shaoxiong gave a comprehensive introduction on the three (3) worry-free services by the new generation of Smart Mobile Banking of ICBC Malaysia. Firstly, Malaysians experience worry-free travelling to China. Malaysians who are travelling to China can use ICBC Pay to make cross-border payments more efficient, convenient and hassle-free without the need to open a bank account in China, effectively solving the problem in mobile payment.

At the same time, customers can also enjoy the speedy support of QR code scanning when travelling to 32 countries and regions around the world, including Thailand, Japan and Singapore, without having to open any local bank account.

Secondly, Chinese citizens will be worry-free while working and living in Malaysia. They can easily enjoy convenient services such as payment on livelihood consumption, instant transfer of funds, and payment of daily expenses via the DuitNow QR, speedy salary remittance to home country, multi-currency remittance and JomPAY functions respectively.

Last but not least, customers’ fund management is safe and secured with multiple security measures such as multiple encrypted data transmission, dynamic password token, transaction limit control and anti-theft password protection.

Looking forward, ICBC Malaysia will continuously pay attention to Malaysia’s social and economic development, leveraging on the use of the overall technological advantages of ICBC Group, continuously promoting the business innovation of digital channels and services to provide a warmer and more considerate services to Malaysian customers, including but not limited to Chinese citizens who are working and living in Malaysia as well as China’s corporations that are investing in Malaysia.

Simultaneously, ICBC Malaysia will seize the new development opportunities arising from the RCEP, focus on new areas of China-Malaysia cooperation such as the digital economy, building a financial bridge for bilateral and multilateral investment and trade exchanges between China and Malaysia, and foster a friendly interaction and cultural exchanges between the Chinese and Malaysian as well as deepen the relationship between the two countries.