Green Packet announced its acquisition of 51% majority stake in T-Melmax, a payment processing technology company owned by Censof Holdings, which specialises in financial management software solutions.
The move is said to fill the gap in the market for SMEs, state and federal government units and enterprises who are looking for a one-stop provider that is able to combine the power of real-time cashless payments and accounting into an integrated solution with end-to-end financial reporting analytics.
Green Packet seems to be on an acquisition spree with the recent addition of technology firm Xendity which specialises in identity verification processes using e-KYC. The company had also formed a partnership with Tencent Cloud, for the latter’s facial recognition and machine learning capabilities to build a localised e-KYC solution.
Established in 2002, T-Melmax as part of the Censof group of companies, focused on digitally automating and simplifying the handling and processing of bulk payment, bulk collection and other types of payments.
“Heads of Treasury, CFOs, financial leaders, and accounting teams everywhere need to strategically implement different digital tools as soon as possible to reap the rewards of greater productivity, efficiency and value-add for their organisations. T-Melmax has been a trusted provider to various government agencies for various statutory payments and this partnership will help both companies leverage complementary strengths and bring greater value to our combined base of customers,”
said CC Puan, Group Managing Director of Green Packet.
Censof’s Group Managing Director, Ameer Shaik Mydin said,
“The need for digital payments is a norm in today’s world. We hear of e-payments or e-wallets becoming the core of daily business operations. The combined strength between T-Melmax and Green Packet will ensure delivery of digitalised strategies, products and services in supporting our new Digital Malaysia, especially in these unprecedented times of rapid change that require us to innovate faster than ever.”
Featured image: Greenpacket Linkedin