Mobile Payments are becoming popular, as banks adopt it and globally being pushed by Samsung and Apple.
Meanwhile Malayan Banking Bhd (Maybank) has sold all its shareholding in Visa Inc, comprising 1.19 million Class A common shares, for US$93.9mil (RM412.8mil).
In a filing with Bursa Malaysia on Wednesday, the company said this was part of its strategy to be more capital efficient by rationalising its non-core assets.
“The proceeds from the shares disposal will be utilised for additional working capital purposes,” it said.
Maybank noted that its existing business relationship with the global payments technology company would continue to be a priority and would not be affected by the share disposal.