Divestment

1. What has happened in this divestment?

MEPS has diversed its e-Payment services to Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear), a wholly owned subsidiary of Bank Negara Malaysia.

2. What are the e-Payment services that have been divested?
    • MEPS IBG
    • MEPS FPX
    • MEPS Direct Debit; and
    • e-Debit

The Shared ATM Network and its entire suite of Smart Card services will continue to operate under MEPS.

3. Why has MEPS embarked on this divestment?

MEPS supports the Economic Transformation Programme which aims to expand merchant acceptance of e-payment services and to create a cheque-less nation by 2020. These initiatives are in line with the Government’s long term plan to create an integrated payment ecosystem*.

By embarking on this strategic divestment, MEPS will be able to sharpen its focus on expanding its Shared ATM Network and form strategic partnerships with countries that boasts of high-traffic cross-border inbound and outbound travelers, in particular, Asian nations and members of The Cooperation Council for the Arab States of the Gulf (GCC).The scope of the existing ATM partnerships will also be expanded to introduce point-of-sale and more advanced e-Payment services.

*Integrated Payment Ecosystem is a national payment landscape where all payments are cashless and are transacted through one united e-Payment system.

4. When did this divestment take place?
This divestment was effective on 16 September 2011.
 
5. What will be the impact on MEPS and its business after this divestment?
MEPS will continue to operate the Shared ATM Network and its entire suite of Smart Card services. Its shareholding amongst the local banks will also remain the same.
 
6. Will stakeholders (regular customers, merchants, banks, etc.) experience any difficulties when using the Shared ATM Network or e-Payment services during the transition period?
Whether you are a regular customer, merchant or member bank, you will continue to enjoy seamless experiences when using the Shared ATM Network or e-payment services.
 
7. Who can customers contact for feedback and queries?

Effective 16 September 2011, customers can email their feedback and queries to the following:

For Shared ATM Network & Smart Card Services

Tel: +603.2781 0531
Fax: +603.2713.3099
Email: corpcomm@meps.com.my

For e-Payment Services 

Tel: +603.2698.2085
Fax: +603.2698.2204