MOLPay launches payment solution for microenterprises

MOLPay, an online payment service provider owned by MOL Global Group today unveiled its new online payment solution allowing local microenterprises to adopt online payment easily with low entry costs. With the new solution namely MOLPay-FPX Plan, the merchants’ online store able to accept payments from shoppers by debiting fund from shoppers’ bank account for online purchases via Financial Process Exchange (FPX) platform provided by Malaysian Electronic Clearing Corporation Sdn Bhd, a subsidiary wholly-owned by Bank Negara Malaysia. The participating banks are Bank Islam, CIMB Bank, Hong Leong Bank, Maybank, Public Bank and RHB Bank.

According to MOLPay, this new solution aims to encourage more online sellers to adopt online payment and replace conventional ways of accepting payment such as cash deposit or cash delivery. This initiative was in line with Bank Negara Malaysia’s blueprint to build a cashless society in the country, MOLPay said.

by Alice Lee