PKNS Real Estate Sdn Bhd (Prec) and MBSB Bank Bhd (MBSB) have signed a memorandum of understanding (MoU) to work together. To promote cashless commerce in order to support small and medium-sized businesses (SMEs).
Datuk Nor Azam M Taib, the group CEO of MBSB Bank, and Fakru Radzi Ab Ghani, the CEO of Prec, both in attendance today, signed the MoU.
Nor Azam claimed that the partnership will give business owners in Prec-owned structures like the SACC Mall and PKNS Complex in Shah Alam and bangi. The chance to grow their enterprise by utilizing real-time retail payment platforms (RPPs) like the DuitNow application.
“In addition to being always available, cashless transactions provided by RPP can save operational expenses. And aid in streamlining the financial management process.
“Since digital payment is simpler, safer, and a preferred method for today’s users. The digitalization of Prec establishments may help draw in additional customers, he added.
Fakru Razi added that the project would be put into practice at the Selangor Ramadan Festival 2023. Which is slated to run from March 5 to April 21, 2023, at the SACC Mall and the PKNS Complex in Shah Alam and Bangi.
He said that by creating accounts with MBSB Bank and utilizing its digital banking services for business transactions, a total of 1,000 merchants. Who are anticipated to take part in the sales festival—would gain from the initiative.
Fakru Radzi stated that site rental costs will range from RM1,000 to RM15,000 depending on location. With a total of 2.5 million attendees anticipated to attend the festival this year.
“Previously, we only had about 700 merchants. But this year, more merchants are interested in renting booths, therefore the number has increased.
“50% of the booths are at the PKNS Complex in Shah Alam, 30% are at SACC Mall, and the remaining booths are at the PKNS Complex in Bangi, according to the booth provision, he continued.