SME Corp appoints MSSB in enabling e-payment services for SMEs

Managepay Services Sdn Bhd (MSSB) said it received an appointment letter from SME Corp Malaysia (SME Corp) to be a third-party acquirer for SME Corp’s Enabling e-Payment Services for Small and Medium Enterprises (SMEs) and Micro Enterprises Programme.

Enabling ePayment Services for SMEs and Micro Enterprises is a Project under the Digital Malaysia. This initiative aimed to increase the adoption of ePayment among SMEs. Due to the cost constraint and intricate process of ePayment, SMEs and Micro Enterprises are facing difficulties in acquiring ePayment capability especially the operators of ‘pasar tani’, small restaurant, night market, flea market and cottage industries. With this initiative, SMEs and Micro Enterprises are being enabled to accept ePayment via means of simplifying the acquisition process and lowering its cost. It will also accelerate the adoption of ePayment with the distribution of affordable Point-of-Sale (POS) terminals.

SME Corp expects to generate 1,125,000 million ePayment merchant outlets points enabled by Electronic Funds Transfer Point-of- Sale (EFTPOS) terminal by 2020.

by Terry Brown