Malaysian Electronic Payment System
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| Malaysian Electronic Payment System | |
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| Operating area | Malaysia |
| Members | 12 |
| ATMs | 4,300 |
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| Founded | 1997 |
The Malaysian Electronic Payment System, commonly known as MEPS, is the only interbank network service provider in Malaysia, counting among its members from mostly local and foreign banks in the country.
Bank's Automated Teller Machine (ATM) card is also known as Bankcard by its bank members, cardholders and by the network itself. The term was used to refer to the implementation of smart card, which is an upgrade to chip-based card from previous magnetic-stripe card issued to all bank's cardholder customer. MEPS provides the following services to all participating member banks' customer:
- Domestic Shared ATM Network for ATM cash withdrawal at over 4,300 ATMs
- eDebit (previously ePOS) for retail purchases deducted from bank account via card terminals
- Inter-Bank GIRO (IBG) fund transfer to others bank account via Bank's counter/phone/internet banking services
- Inter-Bank Fund Transfer (IBFT) to others bank account via ATM
- Mobile Prepaid Top-Up via ATM
- Financial Processing Exchange (FPX) that supports B2C and B2B eCommerce payment transaction
- Regional Link Shared ATM Network with other ATM switches network provider such as ArtaJasa (Indonesia), NETS (Singapore) and ITMX (Thailand) for overseas ATM cash withdrawal while travelling.
The network is owned by Malaysian Electronic Payment System (1997) Sdn Bhd, which is a consortium of 11 local banks. Its subsidiary company, MEPS Currency Management Sdn Bhd (MCM) began operations in April 1998 and traded on Bursa Malaysia (MYX: 0013).
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[edit] Member banks
Listed below is the participating member banks. However, not all member banks provide full services offered by MEPS.
- Affin Bank
- Alliance Bank
- AmBank
- Bank Islam Malaysia Bhd
- Bank Muamalat Malaysia Bhd
- Bank Pertanian Malaysia
- Bank Kerjasama Rakyat Malaysia
- Bank Simpanan Nasional
- CIMB
- Citibank
- Deutsche Bank
- EON Bank
- Hong Leong Bank
- HSBC
- Maybank
- Oversea-Chinese Banking Corporation
- Public Bank
- RHB Bank
- Standard Chartered Bank
- United Overseas Bank
[edit] Former members
[edit] See also
[edit] External links
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