Jun 11 2018, 05:08 PM
QUOTE(digidigi @ Jun 11 2018, 11:24 AM)
Grab pay might have the least chance, most people still not taking grab
Grabpay's chances are pretty good since they are collaborating with Maybank where they can access the merchant & user base of the biggest bank in the country. Grabpay is not limited to Grab rides only.QUOTE(hobbes1001 @ Jun 11 2018, 11:46 AM)
I will put boost and vcash in the same category. Both are initiated by telco. I am just uncertain on how much stamina they have to compete.
I would like to see merchants accepting all types of cashless transactions too but it might not be possible due to the number of terminals required and their reconciliation will be a nightmare. Maybe this is where a 3rd party can come in (e.g. like MEPS but hopefully don't act like MEPS)
Just my opinion.
Work is already in progress in that area with Real-time Retail Payments Platform (RPP). Bank Negara is also working on a standard for QR codes that can be used by all the different mobile payment providers. Once everything is in place, most of the systems should be inter-operable. It would also be possible to send money between different e-wallet providers and the banks using only IC or mobile number. Imagine for example, transferring money from your Boost account to a relative's Public Bank account using only his mobile number even though your relative does not have a Boost account. Or transferring money from your Maybank account to your friend's WeChat Pay account using her IC number. Or transferring money from GrabPay to BigPay etc. This is provided that the e-wallet providers & banks join the platform. The developments are pretty exciting. I would like to see merchants accepting all types of cashless transactions too but it might not be possible due to the number of terminals required and their reconciliation will be a nightmare. Maybe this is where a 3rd party can come in (e.g. like MEPS but hopefully don't act like MEPS)
Just my opinion.
More info on Real-time Retail Payments Platform (RPP)
http://www.paynet.my/fi-rpp.html
Roadmap
http://www.paynet.my/fi-rpp/technology-roadmap.html
This post has been edited by Nom-el: Jun 11 2018, 05:10 PM
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