KUALA LUMPUR: Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear), a subsidiary wholly onwed by Bank Negara Malaysia appoints MOLPay Sdn Bhd (MOLPay) as its first non-back acquirer of its Financial Process Exchange (FPX) service for online merchants. With this appointment, the Malaysian online seller able to implement online payment easily and securely by offering their online buyer to use Internet Banking service (such as Maybank2u, CIMB Clicks, etc.) to purchase their products or services online.
According to Group CEO of MOL Global during the signining ceremony, MOLPay will penetrate into other 4 countries by end of 2013, to become the leading online payment service provider in South East Asia. Besides, MOLPay also announced that they are going to launch physical payment, a payment services allowed online buyer to buy online but pay cash at participating MOL points centres such as 7-11 convenience store, POPULAR book store and cyber cafes. MOLPay believes this first physical payment service in Malaysia able to contribute to the growth of E-Commerce in Malaysia. Also, its physical payment services covers Singapore market via 7-11 convenience store, Singapore Posts and AXS kiosks.