GHL Systems’ subsidiary emerges tops in e-Debit acquiring
GHL Systems’ subsidiary Card Pay ranks first in transaction value for third party acquirers of e-Debit in Malaysia
Kuala Lumpur, 31 March 2009 – The wholly owned subsidiary of leading end-to-end payment services enabler GHL Systems Berhad (GHL Systems), Card Pay Sdn Bhd (Card Pay) has emerged as 2008’s top third party acquirer for e-Debit in Malaysia.
Primarily engaging in merchant acquiring activities under MEPS’ (Malaysian Electronic Payment System) BankCard e-Debit payment acceptance scheme, Card Pay has captured 45% of the total interbank e-Debit transaction value in the country. This translates to a total of 465,330 transactions valued at RM 195.7 Million from January to December of last year.
The MEPS’ Bankcard facility allows for all existing ATM cardholders of local banks to conduct payments using their ATM cards on POS terminals, where the purchase amount is immediately deducted from their savings or current account, directly into the retailer's or merchant's bank account. This in turn provides consumers with better cash management and peace of mind as all transactions are PIN based.
Overall, Malaysia has shown an upward trend in e-Debit transactions with a total of 1,015,383 transactions valued at RM 428.22 million last year. This represents a significant increase when compared to the preceding year’s transaction volume with an average of over 20,000 transactions in 2007.
This upward trend is expected to continue its rise in 2009 in the shadow of the global credit crunch and economic downturn, reflecting in more consumers tightening their credit spending and turning to alternative payment modes.
Overall, Card Pay is ranked third in total e-Debit terminals deployed via its terminal rental and maintenance business. To date, Card Pay has a wide pool of merchants nationwide comprising retail petrol kiosks, retail outlets, as well as tertiary education providers, concentrated in major city centers across Malaysia.
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