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MALAYSIANS CAN NOW MAKE CASH WITHDRAWALS IN INDONESIA
- July 4, 2005
Kuala Lumpur, July 4,2005 - Malaysian Electronic Payment System
(1997) Sdn Bhd (MEPS) and PT Artajasa Pembayaran Elektronis (Artajasa)
have successfully established a regional link to facilitate cross
border ATM cash withdrawals in Malaysia and Indonesia.
The regional link allows customers of MEPS member banks to withdraw
cash, in Indonesian Rupiah, using their ATM cards (also known as
the Bankcard) at over 5,200 Artajasa member banks. Likewise, customers
of Artajasa member banks can withdraw cash in Ringgit Malaysia at
over 4,500 ATMs in MEPS Shared ATM Network in Malaysia.
According to MEPS Managing Director, Dato' Mohd Hata Robani, this
is a significant milestone for MEPS and Artajasa as well as the
financial industry of both countries.
"This regional link is a major step towards MEPS' vision of a
future where people will be able to make ATM related transactions
conveniently regardless of where they are. It is also part of our
business direction of taking our payments facility international.
"We are confident that travelers from both countries will embrace
this new ATM regional link service; not only for its convenience
but also for its security," said Dato' Mohd Hata.
There are over 700,000 Malaysians and two million Indonesians who
regularly travel between these countries. In the first phase of
the regional link initiative, customers of Maybank can make ATM
cash withdrawals at ATMs of Indonesia's Bank Syariah Mandiri and
Nilai Inti Sari Penyimpan Bank. By end 2005, seven more Malaysian
local banks are expected to offer this regional link service to
their customers. The maximum withdrawal per day and transaction
fee is determined by the respective issuing banks.
MEPS' second phase of this initiative will be to enhance the service
to include cross-border transfer of funds through the ATM.
Malaysian Electronic Payment System (1997) Sdn. Bhd (MEPS) is a
corporation wholly owned by the local financial institutions and
provides shared banking service for ATM network, inter-bank GIRO,
e-commerce gateway and electronic cash payments such as MEPS CASH
and e-Debit.
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