Malaysian mobile services provider Digi Telecommunications has partnered with electronic payments firm ManagePay Systems (MPay) and Mastercard to develop a digital prepaid card.
Intended for customers who prefer online purchases, the new card will enable online and in-app digital transactions at all merchants accepting Mastercard.
The digital prepaid card is set to be launched in the first half of this year. Customers will be able to sign-up, activate and use the card within a single mobile app.
Digi MPay partnership for Mastercard prepaid card
Digi Telecommunications chief digital officer Praveen Rajan said: “We want to play our part in assisting people to go cashless. More importantly, offer them the convenience to do what they want on their devices. This partnership with MPay and Mastercard will give young Malaysians a new option to pay and purchase anywhere globally.”
MPay Group founder, managing director and CEO Dato’ Chew Chee Seng added: “Our focus will be to acquire retailers and e-tailers to provide them the ability to accept digital card payments and unlock the benefits of going cashless.
“This includes having access to a suite of merchant tools for improved customer retention, which will translate into a more engaging and efficient in-app cashless experience for card holders.”
A study by Mastercard revealed growing preference for online shopping in Malaysia.
The Online Shopping Survey showed that 89% of Malaysians made at least one online purchase towards the end of 2017, compared to 81% in 2015.
Mastercard country manager for Malaysia and Brunei Perry Ong said: “Mastercard is pleased to embark on this partnership as it reinforces a shared effort to not only further expand the digital payments footprint in Malaysia’s growing e-commerce space but also encourage financial inclusion for those outside the mainstream digital banking system.”