CIMB Bank today launched Asean's first banking service on Facebook, OctoPay, an extension of its internet banking
portal service or CIMB Clicks.

Group Deputy Chief Executive Officer and Head of Consumer Banking Renzo Viegas said with OctoPay, the bank had taken the lead to diversify its alternate delivery channels and integrate internet banking capabilities with social networking elements.

"OctoPay can be accessed from anywhere in the world with internet
connection, 24 hours a day, seven days a week, with no service or transaction charges," he told a media briefing here today.

Viegas said with OctoPay, CIMB hopes to educate the public on how easy and secure it is to conduct banking transactions via the social media, as well as collectively encourage savings behaviour among the public.

He also gave an assurance that any transaction done using OctoPay was secure as the application resides on CIMB Click's infrastructure.

On the transaction target for OctoPay, he said CIMB did not have any yet, but hoped with this new application, customers would be encouraged to sign up with CIMB Clicks.

He said to date, CIMB Clicks had 3.6 million registered users in
Malaysia with an average monthly volume of 3.5 million financial transactions.

"The CIMB Clicks application downloaded onto iPhone, iPad, and Android-based devices is approximately 500,000," he added.

There are three main features of OctoPay.

Firstly, it enables the transfer of funds between OctoPay friends and users. It can also be used to reload prepaid mobile phone accounts.

The third feature is the Coinbox, where OctoPay users can invite their friends to contribute to a savings pool, and share money online. Bernama