Its managing director, Datuk Seri Zukri Samat, said in the first phase, TAP would focus on local services like payment of bills, mobile pre-paid top-ups and inter-bank money transfers, before expanding into international services.
"We expect to launch the second phase in providing international services such as remittance and money transfers, in the second quarter of next year," he told reporters after the launch of TAP here Wednesday.
He said TAP was one the bank's efforts to increase its customer base.
"We expect university students to be the main users in the initial stage as they are always alert to new technology," he said.
Zukri said about 70 per cent of university students in Malaysia had bank accounts with Bank Islam.
On Bank Islam's plans to expand its business overseas, he said: "It is included in our sustainable growth plans, which cover the period from July 1, 2009 to Dec 31, 2012, to expand beyond Malaysia and we are still looking at it right now."
He said currently, the bank was eyeing South-East Asian markets such as Indonesia, Brunei and Singapore but has not targeted on any specific country.
TAP is a mobile banking service using mobile phone as the channel and payment device. It marks another step by Bank Islam to move towards branchless banking.
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