Malaysian Electronic Payment System

Malaysian Electronic Payment System
Industry Finance
Founded December, 1996
Headquarters Kuala Lumpur, Malaysia
Key people Abdul Wahid Omar, Chairman
Mohd Suhail Amar Suresh, GMD
Products Financial Services
Website www.meps.com.my

The Malaysian Electronic Payment System, commonly known as MEPS, is the only interbank network service provider in Malaysia.

Malaysian Electronic Payment System formerly known as Malaysian Electronic Payment System (1997) Sdn Bhd is a payment consortium owned equally by 12 local banks. Its subsidiary companies are MEPS Currency Management Sdn Bhd (MCM) and FPX Gateway Sdn Bhd (FPX).

MEPS plays a role in the implementation of smart card for Automated Teller Machine (ATM) card, which is an upgrade to chip-based card from previous magnetic-stripe card issued to all banks customer.

The card is also known as Bankcard, a card with multiple functions. There are three main functions that can be used namely ATM (with various combinations of banking transactions), e-Debit (online purchase payment) transactions at participating merchants and MEPS Cash (load in a monetary value into your Bankcard chip) and pay of participating merchants.

MEPS provides the following services in its network to all participating banks:

Contents

Member banks

Listed below is the participating banks. However, some participating banks provide only selected few of the services offered by MEPS as mentioned above.

Former members

See also

External links