Planning for Your Children’s Future Starts with PB Alpha Edu and PB Journey App

Public Bank has recently rolled out two new products, the PB Alpha Edu and the PB Journey Mobile Application. These two innovative financial solutions were developed exclusively with the aim at helping parents plan ahead towards providing their children with financial security.
 
The PB Alpha Edu is a non-participating insurance plan with investment-linked features serves as an education fund while covering death and total and permanent disability (TPD).
 
Distributed by Public Bank and underwritten by AIA Bhd., the plan has a maturity benefit when the child reaches age 21.  Parents will appreciate the benefits of this plan where the premium paid since its inception will be harvested when their children begins their tertiary education.
 
In the event if parents met with unfortunate events, they can prepare for such circumstances by adding the PB Education Protector Rider where their children will receive yearly income benefit while adding additional premium waiver riders will keep the PB Alpha Edu policy active without the need for premium payment for the remainder of the policy years.
 
In line with digitalisation, the PB Journey App was designed to help parents teach their children good money habits or instill ‘Wisdom In Saving Early’ (WISE) in a fun interactive way. It provides seamless access to all Public Bank’s WISE Saving Account holders. 
 
Through the learning modules, children can learn the value of money and how to be financially responsible under the guidance of their parents.  They can set their financial goals and be rewarded when the goals are achieved. 
 
The earlier parents learn the advantage of teaching money management lessons to their children, the more financial savvy their children will come to be, a crucial life skill to provide for a child.
 
Another new added feature targeted to be launched in the first half of this year in the app is the DuitNow QR payment services where children can also spend and keep track of their pocket money.

Public Bank's Cross Border Payment With Indonesia and Thailand via DuitNow QR is Now Accessible

Businesses and consumers could make instant payments using DuitNow QR Cross Border Payment between Malaysia with both Indonesia and Thailand using Public Bank’s PBe QR Service.
 
This payment allowed the Bank’s customers to conveniently transact with merchants in Indonesia and Thailand through Public Bank’s mobile banking application – PB Engage, while customers from Indonesia and Thailand can comfortably use their local banking accounts to pay merchants in Malaysia.
 
“With the Malaysian Government looking to open its international borders by March, the convenience of using Cross Border Payment and DuitNow QR linkage with both Indonesia and Thailand will further encourage economic activities with these nations,” said Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato' Sri Dr. Tay Ah Lek.
 
This initiative marked a new milestone since Public Bank’s launching of the nation’s first DuitNow QR Cross Border Payment Acceptance in June 2021 to facilitate international QR Payment from Thailand and subsequently from Indonesia.
 
Developed in collaboration with PayNet, Tan Sri Tay said the Cross Border QR Payment linkage will also further boost Public Bank’s efforts to provide greater financial inclusion as part of Public Bank’s ESG efforts.
 
“Businesses of all sizes, including Micro, Small and Medium Enterprises (MSMEs) can now accept payments efficiently and securely with cashless payments that are cost effective. This will lower the barrier of doing business for MSMEs as ASEAN borders gradually reopen. Meanwhile, for retail customers, apart from having a more convenient and safer option to make payment, they will also enjoy better foreign exchange rates. Hence, customers will get better value from their spending, contributing to a win-win solution for all,” Tan Sri Tay said.

​Accelerating the usage further, Public Bank has been waiving the transaction fees for both retail customers and its PBe QR Merchants – including cross border QR Payments to and from Indonesia and Thailand until 31 December 2022.

Mr. Peter Schiesser, Group CEO of PayNet and Tan Sri Dato' Sri Dr. Tay Ah Lek, Managing Director & CEO of Public Bank Berhad during the Public Bank's soft launch of the Malaysia's National QR Standard: DuitNow QR on 17 July 2019. Public Bank was the first bank to adopt the standard

Public Bank First Bank to Launch DuitNow Online Banking/Wallets

Public Bank launched a new secured online payment solution – DuitNow Online Banking/Wallets in January 2022 to further support the growing needs of a cashless economy.
 
DuitNow Online Banking/Wallets supports e-commerce and m-commerce merchants in facilitating real-time payment acceptance via online banking and eWallets through simple redirection.
 
This is a step forward and enhances existing payment gateways whereby customers can experience a more seamless cart to checkout journey all in one place.
 
Public Bank Managing Director Tan Sri Dato' Sri Dr. Tay Ah Lek said Public Bank had always put customers and the society first in everything it does.
 
“Providing the latest service in line with customers’ demand for convenience and security, Public Bank also prioritises Environmental, Social, and Governance (ESG) efforts by providing greater financial inclusion for the unbanked in addition to enabling online merchants to easily accept payments in real-time through this new, cost-effective, and secure online payment solution,” Tan Sri Tay said.
 
With real-time debiting via payer’s Online/Mobile Banking account or eWallet and direct crediting into merchant’s account maintained by the banks, it is designed to meet the needs of and benefit both small and large businesses.
 
Mr. Peter Schiesser, the Group Chief Executive Officer of PayNet said, “Payments made using internet/mobile banking have witnessed a dramatic upsurge in the last 2 years. With this in mind, DuitNow Online Banking/Wallets was designed to elevate the user experience through a more seamless checkout process with the option of application-to-application payment redirection which significantly reduces payment friction and cart abandonment.”
 
DuitNow Online Banking/Wallets is operated by PayNet (Payments Network Malaysia Sdn. Bhd.), the national payments network and shared central infrastructure for Malaysia’s financial market. This new service will extend PayNet’s DuitNow ecosystem to include other digital wallets while maintaining compatibility with participating financial institutions.

Public e-AvantGarde Focus Fund Launched

27 Sep 2022

Public Mutual Berhad, Public Bank’s wholly-owned subsidiary has launched a new fund named Public e-AvantGarde Focus Fund (PeAGFF) on 27 September 2022.

PeAGFF is primarily a domestic equity fund which aims to achieve capital growth over the long term by investing primarily in companies which may stand to benefit from prevailing economic conditions in both the domestic and foreign markets.

These may include quality consumer companies as well as selected consumer and tourism-related stocks that will benefit from the recovery in consumption amid the reopening of economic sectors and international borders.

Additionally, PeAGFF may also invest in selected banking and financial institutions which are leveraged to the recovery of economic activities and stand to benefit from the rise in interest rates. It will also explore new investment opportunities in sectors that have long-term structural growth potential such as green energy and technology.

PeAGFF is suitable for investors who wish to participate in the post-pandemic growth opportunities in the domestic and foreign markets.

The Fund will invest 75% to 98% of its net asset value (NAV) in shares or securities equivalent to shares, while the balance of its NAV will be invested in bonds or other forms of securitised debt, money market instruments and deposits.

PeAGFF will generally invest 50% to 70% of its NAV in the domestic equity market. In order to achieve diversification and tap into a broader array of investment opportunities available overseas, PeAGFF may also invest up to 30% of its NAV in selected foreign markets.

The PeAGFF is suitable for investors who wish to participate in the post-pandemic growth opportunities in the domestic and foreign markets

Public Bank Among the First to Enable Google Wallet Payments in Malaysia

15 Nov 2022

Public Bank Visa Credit and Debit cardmembers can now enjoy a convenient and secure way to pay in-store, online and in-app with Google Wallet.

As one of the first Malaysian banks to enable Visa cards on Google Wallet, Public Bank’s Managing Director and Chief Executive Officer, Tan Sri Dato’ Sri Dr. Tay Ah Lek said this rollout is part of Public Bank’s continuous effort to provide a seamless and secure banking experience for its customers through the digitalisation of banking services.

“Consumers’ shift to digital payments have accelerated over the past few years and Public Bank is confident that by enabling our cards on Google Wallet, we will add further value to our card members,” Tan Sri Tay said.

With Google Wallet, Public Bank Visa Credit and Debit cardmembers can pay by tapping their Android devices at any merchant that support contactless payment, eliminating the need to use the physical card. Apart from convenience, Google Wallet has multiple layers of security, including industry-standard tokenisation.

With the added convenience, Public Bank cardmembers will continue to enjoy all the benefits of their Visa debit and credit cards ranging from cashbacks and additional discounts from purchases that are only exclusive to Public Bank cardmembers.