In today’s CardFlash News Que: B2 (Chase); JCB (Malaysia); FIT PAY (wearables); and WIRECASH (Cuallix).
In today’s CardFlash News Que: INAUTH (Bain); ASIAPAY (Semafone); EMAZZANTI (EMV); and PAYSYS (NewNet).
The largest private credit reporting agency in Malaysia
will offer FICO Scores to all its clients beginning early 2015.
The CTOS-FICO Consumer Credit Score is created by analyzing the information found in CTOS’s comprehensive credit information database.
Credit card usage in Malaysia grew at a compound annual growth rate (CAGR) of 6.87% between 2009-2013, driven by growing acceptance of card-based payments at POS terminals and on public transport were key factors driving growth.
Transaction Network Services (TNS) will deploy wireless ATMs for Malaysian Electronic Payment System Sdn Bhd (MEPS). MEPS launched Malaysia’s first non-bank ATM late last year and has ambitious growth plans to roll out the technology across the country, which will see 500 ATMs live by the end of this year and continuous steady growth year on year to 1,580 by 2018 as MEPS rolls out nationwide coverage. TNS will provide its TNSLink solution to handle secure, high-speed transaction transport and ATM communications utilizing advanced encryption algorithms and a PCI DSS certified backbone network.MEPS ATMs support the Malaysian government’s Economic Transformation Programme and Bank Negara Malaysia’s e-Payment Agenda by offering more than just cash withdrawals and balance enquiries. Customers can complete real-time interbank transfers, as well as make credit card and loan repayments.
InComm, a leading prepaid product and transaction services company, has entered into an exclusive arrangement with Money Online (MOL), one of Asia’s leading online payment service providers, to launch point-of-sale-activated (POSA) gift card mall solutions in Southeast Asia. MOL is majority owned by Tan Sri Dato’ Seri Vincent Tan, founder and majority shareholder of Berjaya Corporation, one of Malaysia’s largest conglomerates, which also owns the local rights to various retail brands such as Starbucks and 7-Eleven.
Bursa Malaysia Berhad has appointed Datin Azalina binti Adham as Head of Strategy and Transformation, a newly created position to oversee the Exchange’s overall business strategy and transformation initiatives with effect from 1 January 2012. Datin Azalina is a member of Bursa Malaysia’s Management Committee, which evaluates key management and operational matters. It has also appointed Encik Jamaluddin bin Nor Mohamad as Head of Islamic and Alternative Markets with effect from 14 May 2012. Encik Jamaluddin will be spearheading the expansion and development of the products and services of the Islamic and bond markets and the Labuan Financial Exchange. Azalina began her career in Bursa Malaysia in 2001 and has held senior positions in the areas of business and investor development while Encik Jamaluddin was the Chief Operating Officer of Bank Pembangunan Malaysia Berhad.
Bursa Malaysia published a consultation paper seeking public feedback on proposals that are aimed at promoting greater efficiency for cash payments made by issuers to their securities holders. As part of the strategic priority to propel the Exchange to be the leading marketplace in Asia, Bursa Malaysia is proposing to extend its eDividend framework to…
Malayan Banking Bhd (Maybank) has tied-up with Axis Bhd, one of the largest private banks in India, to introduce remittance services to beneficiary accounts in that country. The new service is expected to benefit both Indian citizens working in Malaysia as well as Malaysians who have to remit funds to beneficiaries in India, which received an inward remittance of more than US$55 billion in 2009 to 2010.
RHB Banking Group (RHB) has chosen Fiserv to support the bank’s interest-rate risk and liquidity risk management strategies. With more than US $43 billion in assets, RHB has seven distinct strategic business groups, with headquarters in Kuala Lumpur. RHB is focused on enhancing its risk infrastructure and analytics bank-wide to help ensure continued growth as Malaysia’s economy regains momentum. The Fiserv solution is used to manage integrated and advanced liquidity risk, interest-rate risk, market risk, credit risk and economic capital – essential components of effective corporate governance and enterprise risk management.
Malayan Banking Bhd (Maybank) and Pos Malaysia Bhd have extended their shared banking services to Sabah with a target to cover 26 selected post offices in the state this month. Under the strategic partnership launched in Kota Marudu recently, Pos Malaysia will provide a number of Maybank’s services at its selected offices. Maybank’s head of community distribution, Mohd Hanif Suadi said Maybank-Pos Malaysia also plan to introduce additional services such as money transfer and the opening of savings accounts in the near future. The initial banking services available at Kota Marudu are over-the-counter withdrawals, cash deposit and selected payments.
MoneyGram International global money transfer intends to extend its market presence in Malaysia thanks in large part to a recent influx of migrant workers and foreign students. This included a 30% increase in transaction volume in 2010, during which time the global remittance business exceeded USD 400 billion for an increase of 6% over 2009. According to the World Bank, Malaysia currently ranks sixth on the list of top 10 send countries with a remittance outflow of about USD 7 billion annually. This reinforces Malaysia’s key position for MoneyGram as a continuously growing send market within the Asia Pacific region. Facilitating this expansion is its partnership with MayBank.