MEPS INITIATES THE 1ST ASEAN NETWORK SERVICE PROVIDER’S FORUM

Kuala Lumpur, 21 July, 2006 – Malaysian Electronic Payment System (1997) Sdn Bhd (MEPS) initiated the First ASEAN Network Service Provider’s Forum on Cross Border e-Payments on July 3 – 4, 2006.

The objective of the two-day forum was to establish strategic partnerships to build a borderless e-Payment infrastructure in the ASEAN countries.

The forum brought together the network service providers from Singapore, Indonesia and Thailand i.e. National for Electronic Transfers (Singapore) Pte Ltd (NETS), PT Artajasa Pembayaran Elektronis (Artajasa), PT Rintis Sejahtera (Rintis), PT. Daya Network Lestari (Alto) and National ITMX Co. Ltd.

According to MEPS Managing Director, Dato’ Mohd Hata Robani, members of the forum collectively agreed that the effectiveness of cross border arrangements is easier to achieve when there is a greater consistency in the standards and guidelines.

“Through this forum, MEPS and our ASEAN counterparts have defined and developed the future of electronic payments including standards, security and systems to meet the needs of member financial institutions and its customers in the ASEAN region. This will enhance the dynamic bilateral partnerships among the ASEAN network service providers,” said Dato’ Mohd Hata.

To date, MEPS has established ATM cross-border links with NETS in Singapore and Artajasa in Indonesia. This service provides convenience for travelers from Indonesia and Singapore to make cash withdrawals via ATMs in Malaysia and vice versa. The other networks are also in the process of establishing similar links.

By December 2006, MEPS is expected to establish cross border link with Thailand’s National ITMX. The link with Indonesia’s Rintis and Alto is expected to be ready by mid-2007.