E-Wallets
The Dark Side of Malaysia’s Quest into a Cashless Society
It’s no secret that Malaysia is gung-ho about cashlessness. Bank Negara Malaysia itself expressed as much, within the policies and guidelines outlined in their Interoperable Credit Transfer Framework (ICTF), and which PayNet, the system underlying much of payments and banking in
Read More
4 Big New Features You Can Expect from Your E-Wallets in 2019
PayNet Malaysia handles much of the underlying network for payments and banking in Malaysia. Owned by both Bank Negara Malaysia and a consortium of banks. The once controversial DuitNow launched by many Malaysian banks is one facet of the relationship between
Read More
Digi and Mastercard Working Together on Digital Payments Card for Launch Early 2019
Digi, with Mastercard serving as the technology partner will offer a digital prepaid card—to be released for public use sometime in the first half of the year. The card is also developed with ManagePay (MPay). According to a press release, the
Read More
After Blockchain, MyEG Diversifies into E-Wallets
Following their recent announcement of launching PayMe a blockchain based payroll solution, MyEG revealed that they will be unveiling a new e-wallet by September 2019 dubbed as iPayEasy. The company received their e-money license from Bank Negara Malaysia early 2018
Read More
DuitNow Now Available to 17 More Banks
An additional 17 banks and non-banks will soon launch the DuitNow service as well. Customers wishing to receive DuitNow fund transfers using their mobile number need only perform a simple one-time registration to link their mobile number with their account
Read More
Petronas Customers Can Now “Setel” Petrol Payments With The Tap of an App
Petronas just announced the launch of Setel, an e-payment solution geared towards fuel purchases directly from mobile devices. The app is designed to integrate directly with the fuel pumps, which would allow customers to purchase fuel with a few taps.
Read More
44 Banks Want to Free You From The Hassle of Memorising Account Numbers
Last friday, some of you may have gotten a potentially questionable text from your banks—that your phone number might be integrated with something called ‘DuitNow’, and that you’re given a specific amount of time to opt out. Many Malaysians were
Read More
How Malaysia Measures Up To Southeast Asia’s Payments Landscape
According to SKMM, Malaysia’s smartphone penetration grew from 68.7% in 2016 to 75.9% in 2017, and by all measures, will most likely show an upwards trend this year too. This puts our smartphone penetration at a slightly higher value than
Read More
Grab and Fave Teams up To Tackle The Malaysian and Singaporean Market
Grab and Fave announced a strategic partnership for both parties to grow the respective platforms across the region. The partnership is aimed at capitalising on Grab’s user base of over 110 million downloads and Fave’s strong merchant network of over
Read More
CIMB Introduces QR Terminal — 6 Major Wallets Accepted
CIMB Bank has introduced Quick Response (QR) Payment Acceptance at CIMB terminals. The bank claims to be first in-market to introduce QR payment acceptance to accept six major mobile wallets on one terminal. The six mobile wallet partners to be
Read More