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The PayNet Group is Malaysia's premier payments network and central infrastructure for financial markets. MEPS plays an integral role in the implementation of smart cards for automated teller machine (ATM) cards, which are an upgrade to chip-based cards from previous magnetic-stripe cards issued to all banks' customers.
Payments Network Malaysia Sdn Bhd (PayNet) is the national payments network and shared central infrastructure for Malaysia’s financial markets. It was formed from the merger between the Malaysian Electronic Payment System (MEPS) and Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) on 1 August 2017. [ 1 ]
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
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Malayan Banking Berhad (doing business as Maybank) is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia. [3] According to the 2020 Brand Finance report, Maybank is Malaysia's most valuable bank brand, the fourth-top brand amongst the ASEAN countries and ranked 70th among the world’s most valuable bank brands.
Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.
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It allowed Maxis customers to make payments with their Touch 'n Go technology integrated into their feature phones. The payment system utilized near-field communication (NFC), which allowed users to make payments by tapping the mobile phone to card readers, which also support physical credit, debit, and Touch 'n Go cards.