|
BANKCARD LAUNCH PAVES WAY FOR CASHLESS SOCIETY
- 1 March 2003
Malaysian have a new, innovative chip-based card to enable them to do banking, shopping, make payments and more with a singel card.
Yesterday, 12 domestic banks officially launched the chip-based Bankcard, which will replace the existing magnetic stripe Automated Teller Machine (ATM) cards nationwide.
According to Bankcard's creator, the Malaysian Electronic Payment System (MEPS), the launch was of great significance as it will see the advent of a new banking era for the banking community and Malaysia.
MEPS chairman Datuk Amirsham A Aziz said the introduction of Bankcard is a collective effort by the Malaysian banks to implement the Payment Multipurpose Card (PMPC), a government's initiative to adopt smart card solutions to promote a cashless society in Malaysia.
The 12 banks involved in introducing the Bankcard are Affin Bank Berhad, Alliance Bankd Malaysia Berhad, Bank Muamalat Malaysia Berhad, Bumiputra-Commerce Bank Berhad, EON Bank Group, Hong Leong Bank Berhad, Maybank Group, Public Bank Berhad, RHB Bank Berhad and Southern Bank Berhad.
The Bankcard has a smart chip embedded in it, which can perform multiple task with ATMs, smart terminals and card readers.
|
