Fintech company Managepay Systems (MPay) and Mastercard has collaborated to launch the MPay Mastercard prepaid card plan, to offer alternative cashless transaction options.
This follows a series of continuous changes the group is propagating towards the way money is accepted by small and medium enterprises (SMEs) and large enterprises in Malaysia after the Group launched MPay Balance Account on 29 April 2016.
The group earlier signed the MPay MRCA Ringgit Rewards Card Programme agreement with Malaysia Retail Chain Association on 9 June 2016. It is currently on track to introduce this MRCA co-branded card to the market by September 2016.
“Our partnership with Mastercard will support our growth ambitions in the cashless payment market, by meeting the needs of MPay customers including employees, executives, students as well as enhancing financial inclusion for foreign workers,” Dato’ Chew Chee Seng, group managing director and chief executive officer, said.
“Together with MPay, we are delighted to offer a new proposition for SMEs to enhance efficiency of their payment systems as part of our efforts towards building a cashless society by promoting greater card acceptance. The launch of the MPay Mastercard Prepaid Card is timely as Malaysia looks to accelerate the migration to electronic payments, moving away from cash and checks,” Perry Ong, country manager for Malaysia and Brunei, Mastercard, said.