CIMB Bank Berhad (CIMB), in partnership with Payments Network Malaysia Sdn Bhd (PayNet), introduced Malaysia’s first payment terminal with automated e-invoice capability (the terminal).
This innovation aims to streamline invoicing processes and ensure seamless compliance with the Inland Revenue Board’s (LHDN) e-invoice mandate for businesses, including small and medium enterprises (SME).
The Bank is currently piloting the service with select merchants and plans a full rollout by Q2 2025. Designed with an intuitive interface, the terminal simplifies operations for both merchants and customers, enhancing the overall customer experience whilst reducing the risk of manual errors.
The system is integrated into CIMB’s payment terminals for merchants, fully automating the invoicing process – from creation to instant delivery of e-invoices to customers – significantly reducing administrative tasks.
More than just a payment acceptance device, this terminal features a built-in Point-Of-Sale (POS) functionality, which also serves as a standalone POS system or be easily integrated with existing POS setups via Application Programming Interface (“API”).
It also allows merchants to generate itemised billing for customers, encouraging further transparency. In addition, the terminal provides real-time voice alerts for both card and QR code transactions, which help to improve security and provide added convenience.
Effendy Shahul Hamid, Chief Executive Officer, Group Consumer and Digital Banking, CIMB Group said, “At CIMB, we understand that implementing e-invoicing can be a challenge due to the complexity of businesses’ current accounting systems and compliance requirements.
To assist our customers, we are pleased to work with PayNet to introduce the first payment terminal with e-invoice capability, driving CIMB’s ongoing commitment to integrating digital innovations into unique propositions for our customers.
