Bank Negara subsidiary launches first Inter-bank mobile payment service with 3 banks

KUALA LUMPUR: Malaysian Electronic Clearing Corporation Sdn Bhd or MyClear, a wholly-owned subsidiary of Bank Negara Malaysia finally launched the first inter-bank mobile payment service namely MyMobile in Malaysia after a successful pilot run last year.

In collaboration with Maybank, CIMB Bank and Public Bank as well as three major telcos – Maxis, Celcom and DiGi, MyMobile allows the users to transfer money instantly from a participating bank account via their mobile phone by simply specifying the recipient mobile number. MyMobile is secure and easily accessible by everyone, anytime and anywhere. To date, MyMobile has 65,000 subscribers and generated 350,000 transactions last year during the pilot test. MyClear expected more banks to join MyMobile service soon.

In conjunction with the launch, MyMobile is free to use now until April 30, 2013, without any banking or telecommunication fees for MyMobile services, MyClear’s Managing Director Peter Schiesser said. He added that MyMobile subscribers now can use the service to make bill payments to the Kuala Lumpur City Hall (DBKL), Shah Alam City Council (MBSA), Subang Jaya Municipal Council (MPSJ), Klang Municipal Council (MPK), Ampang Jaya Municipal Council (MPAJ) and the National Higher Education Fund (PTPTN). Besides fund transfer feature, the subscribers also can use MyMobile to do mobile prepaid reload, cheque management and credit card inquiry.

by Terry Brown

Author: VSDaily Editor

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