boost mother company already spent 30+mil just to throw money away for ppl to use.

their 1st year kpi target is 5mil users. simple kpi.

next year, they start imposing mdr to each transaction. let's see if merchant acceptance still that high later.

how many ewalllet has this deep budget to throw?

boost gain traction of course. but what is their gameplan for 2, 3, 5, etc years to come.

ManagePay launches ‘Jelajahi NegaraKu Malaysia’ travel card

http://www.theedgemarkets.com/article/mana...sia-travel-card

KUALA LUMPUR (Sept 5): ManagePay Systems Berhad (MPay) via a strategic partnership with the Malaysian Association of Tour and Travel Agents (MATTA) has introduced an innovative travel card and loyalty solution.

In a statement today, the company said the program, with the card named ‘Jelajahi NegaraKu Malaysia’ intends to offer loyal MATTA customers with a wide range of perks including attractive cashback and special member discounts when spending with a wide range of travel and lifestyle merchants.

...

“Instead of carrying a large amount of cash, travellers can simply purchase the card, load their Malaysian Ringgit into the card and spend with ease whilst enjoying cashback rewards,” said Tan.

Tan said the card will work seamlessly with MPay WALET, the group’s digital wallet app.

She said cardholders will be able to check their card balance, top up their card and keep track of their transactions from their smart phones, from anywhere around the world.

“On top of that, the deals section of the WALET will also offer attractive travel deals only available exclusive for MPay WALET users.



This post has been edited by cybpsych: Sep 5 2018, 02:53 PM

it was a soft-launch by taking advantage of BNM's MyFintech Week (MyFW) conference (in conjunction with Malaysia Tech Week 2019 organised by MDEC)

they already told the launch would be in July

https://www.unionpayintl.com/en/mediaCenter...News/5429.shtml

merdeka

launching

Public Bank first to soft launch DuitNow QR in Malaysia

On 17 July 2019, Payments Network Malaysia Sdn Bhd (PayNet) held a soft launch of Malaysia’s National QR Standard, known as DuitNow QR, with Public Bank as the first bank adopting the standard.

DuitNow QR is established under Bank Negara Malaysia’s Interoperable Credit Transfer Framework (ICTF). ICTF mandates that PayNet, as the country’s shared payment infrastructure provider, implement an interoperable and common QR standard for Malaysia.

With the launch of DuitNow QR, Malaysia has a common QR standard which will work for customers of all participating banks and e-wallets. DuitNow QR will foster an efficient, competitive and innovative payment landscape in Malaysia by enabling interoperability, promoting collaborative competition and providing fair and open access to the shared payment infrastructure.

Present at the soft launch were Tan Sri Dato’ Sri Tay Ah Lek, Chief Executive Officer of Public Bank, and Mr Peter Schiesser, Group Chief Executive Officer, PayNet. Tan Sri Dato’ Tay Ah Lek performed the first DuitNow QR transaction using Public Bank’s PB engage mobile app at Pie Kingdom, a popular café in Bangsar South, which Public Bank has enrolled to accept DuitNow QR.

Through DuitNow QR, users can make payment from any participating Banks or e-Wallets mobile apps. Merchants would only need to display one QR Code, the DuitNow QR, to accept payments, as opposed to the current practice of displaying multiple proprietary QR codes at payment counters.

“We are delighted to be the first bank adopting DuitNow QR. With this soft launch, Public Bank will bring innovative payment solutions to our retail consumers and SME business clients. Driven by our new PB engage mobile banking app, we anticipate that the DuitNow QR will see strong take-up,” said Tan Sri Dato’ Sri Tay.

In addition to Public Bank, there are 33 banks that will be enabling DuitNow QR in their mobile banking apps. These banks will progressively go live over the next 12 months. “We have also received applications from 12 licensed e-wallet providers and non-bank acquirers to participate in the DuitNow QR scheme and we expect to admit a number of those in the next 6 months,” said Mr Peter Schiesser.

“At the moment, we see a proliferation of QR codes from a multitude of e-wallets which is confusing for consumers. In addition, e-wallet providers are incurring substantial merchant acquiring costs because they are each signing up the same set of merchants for their respective proprietary networks. With DuitNow QR, a merchant needs to sign up with only one bank or e-wallet acquirer, and customers of all participating banks and e-wallets would be able to make DuitNow QR payments to the merchant using their respective mobile apps,” added Mr Schiesser.

DuitNow QR is an extension of the DuitNow service launched in December 2018, which allows Bank customers to transfer money instantly and securely on a 24/7 basis at Banks’ Internet or Mobile Banking channels. DuitNow fund transfers can be directed using the recipients’ mobile numbers, MyKad or business registration numbers. The introduction of DuitNow QR extends DuitNow to allow fund transfers to merchants, directed using the merchants’ DuitNow QR codes.

i think this duitnow QR is the unified QR

just they branded it as "duitnow"

definitely will take time

ewallet issuers need to change their backend and frontend to accept the new unified qr string which supports interoperability.

depends on the issuer's "level" or business threshold

those with higher level must comply. those lower level can choose not to comply (and definitely missed out the market acceptace)

lolz you so kancheong with gopayz

XOX Bhd’s wholly owned unit, XOX Mobile Sdn Bhd, plans to roll out its own e-wallet application in three to six months and is targeting to have a 10% market share within the first year of its inception, according to the mobile virtual network operator’s CEO Ng Kok Heng.

Ng said the e-wallet services will be developed with a strong use case amid concern over the abundance of e-wallet players in the market now.

“We have developed a lot of ecology, the last part is to develop the use case and design of the e-wallet.

“We wanted to induce the market’s segment business. That’s what the merchants are looking for. This is about a very focused implementation, not something generic,” he told reporters in Petaling Jaya, Selangor, yesterday.

In June, XOX proposed a rights issue with free warrants to raise up to RM66 million to fund its e-wallet and electronic SIM (e-SIM) businesses expansion.

The group will allocate RM33 million of the proceeds raised from the rights issue to expand its e-wallet function by developing a new mobile application to support micropayments, the issuance of Mastercards and peer-to-peer e-money transfers.

...

“XOX Mobile is excited to work with Mastercard, bringing forth great synergy and drive to innovate with products and services, while contributing to the advancement of Malaysia’s growing digital ecosystem,” he said.

Mastercard Malaysia and Brunei country manager Perry Ong said the partnership will address the need for greater convenience, safety and speed in all aspects of going digital — including payments.

“Malaysians are embracing increa- singly digital lifestyles and businesses need to step forward with creative solutions to meet their demands and enhance customer experience through innovation and collaboration,” he said.

The rollout of the XOX Prepaid Mastercard is expected to take place by the end of 2019 or early next year.

XOX Mobile’s subscribers will soon be able to enjoy the convenience of making simple, secure and swift payments with Mastercard, where the subscribers could opt for a virtual or physical card managed through a dedicated XOX Mobile app.

haha see, merdeka release liao



This post has been edited by cybpsych: Aug 31 2019, 09:46 PM

the faq disjointed with the T&C


Razer Cash @ 7-Eleven = RM2.00 per transaction

online bank transfer = FOC

use within the t&c and policies of the respective ewallet

closed-loop ewallet, like starbucks loyalty card/app.

most likely payfy's ewallet/solution not approved by BNM, and forced to close.

BNM is actively monitoring the market for any apps claiming as ewallet. however, they are not doing enough to educate the public

did the amount appear in the app at all, until now?

fpx/paynet's issue

user -> app -> payment gateway -> paynet -> your bank

problem is, after deducted from bank, paynet slow to respond back to app with the status (success), so the app will not update the amount yet.