ManagePay Systems Berhad (“MPay”) is a provider of end-to-end electronic payment (“e-Payment”) solutions for banks and financial institutions, merchants and card issuers with operations in Malaysia. The Company is currently listed on the ACE Market of Bursa Malaysia with market capitalization in excess of RM120 million.
MPay has obtained notification of compliance from Bank Negara Malaysia (“BNM”) to operate its MPay payment systems in January 2013, pursuant to Section 5(3) of the Payment Systems Act 2003 which allow MPay to undertake merchant acquiring and to own direct business relationship with the merchants, facilitating merchants’ ability to accept credit, debit, loyalty and stored-value cards.
In February 2015, MPay has received a letter of approval from BNM for the issuance of e-Money as in MPay Balance virtual account and MPay MasterCard Prepaid Card. With these e-Money products, MPay is able to package an end-to-end ecosystem to the major retailers in Malaysia, ranging from general purpose reloadable card, travel card, gift card, salary card and etc. MPay’s business objective is to develop a disruptive yet complete consumer payment products and services, coupled with wide range of international payment capability/operation certification and security compliance such as those certified by card schemes, EMVCO and PCISSC.
MPay is well established to become a major Regional end-to-end Payment and Financial Service solution & service provider by creating the differentiation from competitors and existing market with new and comprehensive Payment Innovates to capture new business opportunities and potentials now exist in FinTech space.