Subsidiaries

MEPS CURRENCY MANAGEMENT SDN BHD

MEPS Currency Management Sdn Bhd (MEPS Currency) began operations in April 1998. It is the sole agent of Bank Negara Malaysia to undertake sorting, processing and distributing of currency notes activities.

MEPS Currency currently operates from 6 branches, located nationwide, i.e. Shah Alam, Kuala Terengganu, Pulau Pinang, Kuching, Kota Kinabalu and Johor Bahru.

Its primary roles are as follows:

  • Processing the used currency notes from commercial banks using automated currency processing machines in accordance with procedures stipulated by Bank Negara Malaysia.
  • Destroying soiled/reject currency notes and the disposal of destroyed currency notes in compliance with the requirement of relevant government agencies.
  • Receiving cash deposits and issue cash from/to commercial banks in accordance with Bank Negara Malaysia’s manual on cash operation.

In 2004, MEPS Currency obtained the ISO 9001:2000 certification for notes processing and distribution.

FPX PAYMENT GATEWAY SDN BHD

FPX Payment Gateway Sdn Bhd was established in March 2003 with the main role to develop and manage the national real-time online payment gateway for business to business (B2B) and business to commerce (B2C) payments. In 2004, Financial Process Exchange (FPX) was officially launched by the Governor of Bank Negara Malaysia (Central Bank of Malaysia).

In January 2010, FPX went through a re branding exercise and it became two separate services to better serve a wider range of customers:-

  • MEPS FPX for real-time online payments at e-market places such as websites and online stores; and
  • MEPS Direct Debit  for automated interbank collection of bulk or recurring type of payments.

Both services also serve a broad range of merchants including government agencies, telecommunication providers, utilities and insurance companies. Since its introduction, both MEPS FPX and MEPS Direct Debit has been charting positive growth year on year.

FPX Payment Gateway Sdn Bhd is a wholly owned subsidiary of Malaysian Electronic Payment System Sdn Bhd.