KUALA LUMPUR: Digi Telecommunications Sdn Bhd (Digi) with ManagePay Systems Bhd (MPay) and Mastercard as supporting payments technology partner, will be offering a new payment proposition to meet Malaysia’s growing online community.
Through the partnership, the three companies will develop a digital prepaid card to enable access and make digital payments online and in-app across merchant locations that accept Mastercard worldwide.
The digital prepaid card will be available in the first half of this year.
"This partnership with MPay and Mastercard will give young Malaysians a new option to pay and purchase anywhere globally," Digi’s chief digital officer Praveen Rajan said in a statement today.
"We have observed that the majority of e-commerce
transactions still occur with cash. We want to play our part in assisting people to go cashless, and more importantly, offer them the convenience to do what they want on their devices," Praveen added.
The card will be designed for those who prefer the convenience of online transactions when making their purchases.
Customers can sign-up, activate and use the card all within a single mobile app as part of a simple, safe and secure end-to-end digital experience.
MPay Group’s founder, managing director and chief executive officer Dato’ Chew Chee Seng said the company looks forward to more Malaysians, both consumers and retailers, benefiting from digital payments via this partnership with Digi and Mastercard.
"Our focus will be to acquire retailers and e-tailers to provide them the ability to accept digital card payments and unlock the benefits of going cashless.
"This includes having access to a suite of merchant tools for improved customer retention, which will translate into a more engaging and efficient in-app cashless experience for card holders," he said.
According to Mastercard’s latest Online Shopping Survey, more Malaysians are embracing online shopping with 89 per cent having made at least one purchase towards year-end 2017, compared to 81 per cent in 2015.
Mastercard country manager, Malaysia and Brunei Perry Ong said the ease and convenience of online shopping, combined with the security and flexibility of this new prepaid proposition, is timely to address the fast-paced needs of young, on-the-go Malaysians.
"As Malaysia moves towards a cashless society, it is essential to also meet the needs of the unbanked segment of the population.
He said Mastercard is pleased to embark on this partnership as it reinforces a shared effort to not only further expand the digital payments footprint in Malaysia’s growing e-commerce space but also encourage financial inclusion for those outside the mainstream digital banking system.