Kuala Lumpur, January 13, 2003 – Today, more than 95% of the 3,839 automated teller machines (ATM) nationwide has been fully upgraded to chip based technology.

According to Malaysian Electronic Payment System (1197) Sdn Bhd (MEPS), the service provider as well as technology partner for shared banking services and smart card implementation for the local financial institutions, the ATM upgrading exercise has been completed by the 12 local financial institutions.

“It was one of the key milestones achieved in the implementation of the Payments Multipurpose Card (PMPC/Bankcard) project. The local financial institutions have been aggressively upgrading their ATMs in the last quarter of 2002, which is in line with their move to issue bankcard to their customers for total chip-based ATM transactions,” said Dato’ Mohd Hata Robani, Managing Director of MEPS.

“The upgrading exercise completed was for hardware, software and host systems involving the whole shared ATM network for higher security in performing banking transactions such as cash withdrawal, fund transfer and account balance enquiry at the ATMs. In addition, all ATMs nationwide are also gradually being upgraded to allow e-Purse loading as the Bankcard offers electronic cash payments using either e-Debit at point or sale or e-Purse which is a stored monetary value payment” Dato’ Mohd Hata explained.

Customers can now have added convenience to make payments at retailers and merchants using the e-Purse, as loading facilities via the ATMs are gradually made available by the financial institutions beginning January this year. Taking into consideration the progress achieved in respect of the PMPC implementation towards chip technology, the operating hours for MEPS Shared ATM Network has been reinstated back to normal since December 2002.

Malaysian Electronic Payment System (1997) Sdn.Bhd (MEPS) is a corporation fully owned by the local financial institutions. As the financial institution arm to provide shared banking services for ATM network, inter-bank GIRO, e-commerce gateway and inter-bank electronic cash payment, MEPS is also the technology partner is respect of smart card implementation fro the banking industry