Malaysian payment solutions provider ManagePay Systems is holding negotiations with a major Singaporean bank to launch its chip & PIN technology solution, MPay, in Singapore by the end of 2015, the company’s managing director and CEO Chew Chee Seng said.
ManagePay has also received approval from the Monetary Authority of Singapore (MAS) to launch its system through a banking partner, DealStreetAsia has reported.
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ManagePay has already collaborated with two Myanmar banks, Myanma Apex Bank and Myanmar Oriental Bank, for mobile payment devices.
Chee Seng added that the payment systems provider is also in discussions with financial institutions in India and Vietnam.
"Next, we will launch in Singapore with one of the top three banks, hopefully by the end of this year," Seng told DealStreetAsia.
ManagePay will be hosting its own server system in Singapore to tap into the local market.
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By GlobalData"The Singapore government want their data to be within their country, that’s why we will have the server there. We will also be the first payment solutions provider to run a data centre there; other players run their data centres overseas," ManagePay chief technology officer Ng Kian Seng said.
ManagePay has partnered with Ebizu and Sage to offer its MPay chip & PIN product.
