Bank Islam’s New Mobile Banking Service ‘Transact on Palm’ (TAP)
October 22, 2010 – 11:39 amI read with interest Bank Islam Malaysia Berhad’s (Bank Islam) newly launched ‘Transact on Palm’ (TAP) mobile banking service that is said to be Malaysia’s first mobile banking service that does not require an internet access. This service will be able to all account holders of Bank Islam and apparently, it works on any mobile phone that has reception or “phone signal”.
Like internet banking, intra-bank transactions, i.e. transactions between accounts of Bank Islam, is free while inter-bank transactions are charged a small fee. However, bill payment will also incur a fee as well.
Bank Islam’s target customers are people from Generation Y, people who are very comfortable with using their mobile phones for EVERYTHING and who trust mobile phones enough to make financial transactions. People of my parents’ generation don’t even trust ATMs! LOL
At this point, TAP is only available for domestic transactions but overseas transaction will be implemented, probably next year. I guess the Bank would like to see how well this service is received by its customers first.
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7 Responses to “Bank Islam’s New Mobile Banking Service ‘Transact on Palm’ (TAP)”
This is the first in the world and it is amazing the fact that it is launched by Bank Islam and in Malaysia!! Bravo to Toot, the vendor who created and own the application and thumbs up to Bank Islam for taking this step, think outside the box and be the first Bank to launch this.
By Alice Suryani M. Kamel on Oct 25, 2010
Dear Alice Suryani. May I know who it TOOT, the Vendor for Bank Islam ?
By Kenneth TAN on Nov 2, 2010
Kenneth, i am one of the staff from tootpay, the vendor for the TAP. Is there anything which i can assist you? =)
By Woo on Nov 4, 2010
(T.A.P)-why,when we insert no account(fund transfer), the customer’s name not appear??? maybe the risk is, we will transfer to wrong party’s no account..
By mohd najmuddin on Dec 21, 2010
Kenneth, I think the vendor is tootpay. But their website http://tootpay.com/ is down for sometime. Maybe close shop after providing service to bank?
By Eric on Mar 1, 2011
I have recently brought my iphone 4s to the bank to set up TAP. Unfortunately, i was informed that TAP cannot work on iphone coz of its small simcard or something.. Not sure if it can work on Samsung smart phone?
By zaki on Feb 8, 2012
Kenneth, There is a talk in the market that the SIM is a clone product sold by tootpay and the rights holders would be taking legal action against Bank for TAP. Is there any truth to this? Is the Sim Card sold by tootpay a Clone product? Will we as consumers be affected by this? And will the bank compensate us if anything like this happens?
By Jona lai on Mar 26, 2012