KUALA LUMPUR: MPAY ECPOS, a service offers the convenience of accepting credit cards using smart phone was launched by ManagePay Systems Bhd at SMIDEX 2012 and the launch was officiated by Prime Minister Datuk Seri Najib Tun Razak.
ManagePay, the electronic payment solution company is targeting to register 40,000 users on this service by end of this year due to the lower service fee charged compared with conventional terminals. “Users can choose to pay a monthly service fee of RM10 or RM30, which would be waived when a certain amount is hit. Merchant discount rate for the RM30 package will be lower than the RM10 package,” ManagePay CEO Chew Chee Seng says.
Visa International Malaysia country manager Stuart Tomlinson and Maybank’s head of community financial services, Lim Hong Tat commented that this initiative was in line with Bank Negara’s effort towards a cashless society. Under the initiative, more merchants can accept e-Payment easily, especially small and medium enterprises and micro traders.
Maybank eyeing this partnerhship able to expand its current 30% market share.