Rns30 Jun 2017 16:43
addition, as recently announced, MobilityOne Malaysia has obtained the approval from the Central Bank of Malaysia to issue e-Money for general retail purposes via prepaid card and mobile application. e-Money is a type of payment instrument where it contains monetary value that has been paid in advance by the end users to the e-Money issuer to make payments to purchase goods from merchants such as retail outlets. When the end users pay using e-Money, the amounts are automatically deducted from their e-Money balance. The approval has also been given to allow the e-Money to be used for mobile remittance services by the Group's 50% owned associate company, UC. The e-Money business division will complement the Group's expanding network reach as e-Money provides an alternative payment method without the need for cash handling. At the same time, the Group will generate revenue from e-Money transactions. �Moreover, the e-Money issuing capability can further strengthen the Group's plans to be a significant player in the fintech industry in Malaysia.� In the next few months, the Group will progress the implementation of the e-Money business and expects to launch the business in the 1st half of 2018.
Positive future there