MyClear powers mobile banking in Malaysia with MyMobile

KUALA LUMPUR: Malaysian Electronic Clearing Corp Sdn Bhd (MyClear), a wholly-owned subsidiary of Bank Negara Malaysia is targeting to launch a mobile banking service by this September, namely MyMobile which allow users to transfer money to anyone via short message service (SMS), just by knowing his or her mobile phone number. The users also can conduct balance inquiry, bill payments and mobile prepaid top-up via this service; anywhere and anytime.

According to MyClear managing director Mohd Suhail Amar Suresh, this initiative is in line with Bank Negara Malaysia’s Financial Sector Blueprint to increase the number of e-payment usage in the country.

Currently, MyClear is running a pilot test on MyMobile service with Maybank, CIMB Bank and Public Bank together with three major telecommunication companies. Suhail added that all banks are expected to participate in MyMobile service by the middle of next year.