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MEPS provides the Shared ATM Network switch which enable bank customers to conveniently access their funds anywhere from any of the participating banks’ ATMs. Gone were the days when ATM is only for cash withdrawal or balance inquiry. Today, there are many interbank facilities being offered to bank customers.
Regional Shared ATM Network
In 2004, MEPS initiated a cross-border ATM link to Indonesia via PT Artajasa Pembayaran Elektronis (ARTAJASA). Today, MEPS has links in Singapore and Thailand with National Electronic Transfer Pte Ltd. and National ITMX respectively. This service offers participating banks’ customers the convenience of making cash withdrawals via ATM in the said countries and vice versa. MEPS is also in the midst of establishing similar links with China and other switching networks in Indonesia.
Interbank ATM Funds Transfer (IBFT)
The Interbank ATM Funds Transfer (IBFT) was launched in November 2006. This service allows bank customers to transfer funds from one account to another account in another bank. The beneficiary will receive the funds immediately and instantaneously, as the transfer is online and in real-time.
Mobile Prepaid Top-Up via ATM
MEPS launched the Mobile Prepaid Phone Top-up via ATM in February 2007. This service offers more convenience and hassle-free for mobile phone subscribers to top-up through Interbank ATM. At the moment, this service is only available for Maxis Hotlink and Celcom Xpax subscribers. More telecommunications operators will be participating soon.
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