EPP Solution Sdn Bhd, a subsidiary of PUC Founder (MSC) has signed a cross-border internet payment service agreement with Lakala Payment, a China-based internet financial services group.
As part the deal, EPP has been selected as the sole authorised agent in Malaysia to jointly launch a cross-border financial platform to offer bilateral customers online financial and payment services.
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Lakala is authorised to receive the payment licence for all categories issued by the central bank of the country.
The agreement, which will be effective for a period of one year upon signing, can be renewed automatically every year.
EPP CEO Kenneth Hiew said: "This collaboration is a strategic move for both EPP and Lakala. The main beneficiaries will be merchants in Malaysia and China UnionPay (CUP) cardholders as they would be provided with more online payment options with the addition of CUP.
"As we broaden the acceptance of the system with Malaysia’s merchants, CUP cardholders can conveniently make their online transaction payments."
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By GlobalDataPUC Founder group managing director Cheong Chia Chieh said: "We are expecting the revenue contribution from this business starting from the second quarter of next year. 2016 will be an exciting year for us as we will be seeing revenue contributions from our new business namely our 1MW solar power plant and also our existing payment solutions business."
