Payments

An Inside Look: Concerns on Malaysia’s First Cashless Store by IrisPay

As the digital wallet war heats up in Malaysia, a new player, Irispay throws its hat into the ring with their fully cashless concept store in Subang Jaya, seemingly as a push to promote usage for their digital wallet. Irispay

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E-Money License Granted: Grab Malaysia “Grabs” a Piece of the Payments Pie

Southeast Asia’s leading ride-hailing app Grab has obtained regulatory approval from Bank Negara Malaysia to launch its mobile payment service in Malaysia following it’s earlier approval from the Singaporean authorities. This move is mirrored by it’s Indonesian counterpart Go-Jek who

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Singaporean Fintech Firm, InstaReM Expands Remittance Services to Malaysia

  InstaReM secured approval under theMoney Services Licensed Business from Bank Negara Malaysia, it is eyeing aggressive expansion following its recent Series B Funding.   Headquartered in Singapore, InstaReM is a digital cross border payments company has announced its expansion

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Malaysia: Chinese Giant’s Battleground for Digital Wallets, Who Will Win?

Geopolitical pressures to out-compete the Americans have driven China to exert its influence in South East Asia. Chief among the beneficiary of this exercise is Malaysia. While many of these government to government initiatives are largely focused on infrastructure projects,

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BNM Greenlights TNG Digital: Touch ‘n Go and AliPay’s Joint Venture

TNG Digital Sdn Berhad a new entity jointly formed by CIMB Bank’s subsidiarity, Touch ‘n Go and Alipay has received green light from Bank Negara Malaysia. The new entity will consist of Touch ‘n Go’ as the majority shareholder and

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Paynet: Real-Time P2P Payments with Your NRIC in 2018

ACI Worldwide, a global provider of real-time electronic payment and banking solutions, today announced that Payments Network Malaysia (PayNet), the national financial market infrastructure provider, will build Malaysia’s Real-time Retail Payments Platform (RPP) using ACI’s UP Immediate Payments solution. RPP

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Malaysia Mobile Wallets Space Heats Up: Axiata’s Boost Partners with UTM

Boost, an app based mobile wallet developed by Axiata Digital, announced their partnership with Universiti Teknologi Malaysia to create a “Cashless Campus” in Malaysia. This partnership could potentially enable 25,000 students and faculty members across UTM Kuala Lumpur and Skudai

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Malaysia’s Fintech Sandbox Partcipant MoneyMatch Launches Transfer Portal

MoneyMatch Sdn Bhd, a home-grown company approved by Bank Negara Malaysia, launched its “Transfer” portal, a fully digital cross border remittance service offering exchange rates and fees far cheaper than incumbent banks. The Transfer portal allows users to conduct their

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Malaysian Fintech Firm Soft Space Launches My FamiPay in Taiwan

Partnering with Cathay United Bank (CUB), Soft Space introduces an innovative way to make payments that is set to empower FamilyMart Taiwan called “My FamiPay”. The application integrates and binds debit/prepaid/credit cards and other various stored value cards for in-store

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BNM Approves Sarawak Pay: Sarawak to Roll Out Payments System

Approval from Bank Negara Malaysia for Sarawak Pay was obtained last week , further to the approval the Sarawak Government would see the system implemented at state government departments and agencies next year. The system would allow for payments for

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