By Sofia Nasir
SHAH ALAM, March 3 — PKNS Real Estate Sdn Bhd (PREC) has signed a memorandum of understanding (MoU) with MBSB Bank Bhd (MBSB Bank), to spearhead cashless business transactions among small-and-medium enterprises (SMEs).
PREC Chief Executive Officer Fakru Radzi Ab Ghani said the collaboration will provide opportunities for traders under it to intensify their businesses via mobile banking apps and e-wallets.
"It will benefit traders through the use of MBSB Bank's digital products, via 'real-time retail payment platform' (RPP) like the DuitNowQR app.
"Cashless transactions save on operational costs and time, help the efficiency of financial management processes, as well as being able to operate 24 hours a day," he said.
He was speaking at the MoU signing with MBSB Bank Group Chief Executive Officer Datuk Nor Azam M. Taib, at SACC Mall earlier today.
Fakru added the implementation of cashless business involving 1,000 SME traders will commence at Festival Ramadan Selangor 2023 (Festira23), which will run for 48 days from March 5 to April 21.
"For starters, Festira23 traders must open a MBSB Bank account, and use digital banking services for the buying and selling process," he said.
