Digi Telecommunications (Digi) has partnered with ManagePay Systems (MPay) and with Mastercard as a supporting payments technology partner. This was in a bid to offer a new payment proposition to meet the needs of Malaysia’s growing online community.
The partnership entails the development of a digital prepaid card, which will be made available to the public in the first half of this year. It also aims to enable access for more young Malaysians to make digital payments online and in-app across merchant locations that accept Mastercard worldwide.
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 within a single mobile app as part of a “simple, safe and secure” end-to-end digital experience. This partnership is said to be one of the many ways Digi is innovating to provide better digital experiences for its customers. It also sees the company innovating beyond its core services and into the payments space to bring the benefits of cashless payments to all Malaysians.
“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. This partnership with MPay and Mastercard will give young Malaysians a new option to pay and purchase anywhere globally,” Praveen Rajan, Digi’s chief digital officer said.
Dato’ Chew Chee Seng, MPay Group’s founder, managing director and CEO said the company looks forward to more Malaysians, both consumers and retailers, benefiting from digital payments via this partnership with Digi and Mastercard. He added that the company’s 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 the company aims to translate into a more “engaging and efficient” in-app cashless experience for card holders.
Perry Ong, country manager, Malaysia and Brunei, Mastercard said that 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.
He added that as Malaysia moves towards a cashless society, it is essential to also meet the needs of the unbanked segment of the population. “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,” he said.
According to Mastercard’s latest online shopping survey, more Malaysians are embracing online shopping with 89% having made at least one purchase towards year-end 2017, compared to 81% in 2015.