MEPS Launches Non-Bank ATM

Oct 22, 2013 (Tue): Malaysian Electronic Payment System Sdn Bhd (MEPS), the only interbank network service provider in Malaysia yesterday launched “ATM for All”, the non-bank ATM which offers a variety of services ranging from cash withdrawals, balance enquiries and e-payment services at 15 participating local and foreign banks.

“With over 1,400 new ATMs deployment by MEPS over the next 5 years, in addition to the current 12,000 installed nationwide, there is a significant potential for the ATMs to be used as convenient access points to the public to conduct electronic payment and funds transfer transactions. The widespread availability and reach of the ATMs network should serve the needs of the public not just in the urban areas but also in the rural towns,” said Bank Negara Malaysia Deputy Governor Datuk Muhammad Ibrahim during the launch at Ritz-Carlton Kuala Lumpur.

Muhammad welcomed MEPS’s initiative to promote efficiency and cost effectiveness by developing and deploying industry-wide banking infrastructure. He added that accelerating the migration to e-payments is one of the key strategies in the Financial Sector Blueprint and research said that successful migration to e-payments can save the country about 1 per cent.

According to Malay Mail, MEPS has deployed 134 ATMs in the country and aims to deploy another 200 by the end of the year. It also plans to deploy 360 ATMs annually with the focus on Peninsular Malaysia, and to Sabah and Sarawak by the third quarter of 2014.

Author: VSDaily Editor

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