Last checked at 25 Sep 2023 07:00
REACH
25 September 2023
Boku, Inc.
("Boku" or the "Company" or the "Group")
Approval from Bank Negara Malaysia to operate as a Non-Bank Merchant Acquirer
Boku, Inc. (AIM: BOKU), a leading global provider of mobile payment solutions, is pleased to announce that its Malaysian entity, Boku Network Services MY Sdn. Bhd. ("Boku MY"), has received authorisation from Bank Negara Malaysia ("BNM") to operate as a Non-Bank Merchant Acquirer. Boku MY's approval follows continued investment by the Group in the Malaysian market over many years.
Malaysia is at the forefront of 'new generation' payment methods, with a high degree of mobile wallet penetration and use. DuitNow, the local MY payment scheme, as well as the Malaysian account-to-account payment scheme, Financial Process Exchange (FPX), lead Southeast Asia schemes with the availability of gold-standard features, such as variable recurring payments (VRP) with DuitNow AutoDebit.
Boku MY's authorisation from BNM will permit Malaysian merchants to access the wider Boku payments network covering 200+ payment methods around the world, supporting access to innovative financial services and enhancing business expansion routes for Malaysian companies. The authorisation will also further promote consumer payment choice in Malaysia with respect to purchases from both domestic and international merchants that partner with Boku.
Jon Prideaux, Boku's CEO, commented, "With its vibrant fintech ecosystem, supportive regulatory environment, and high mobile and internet penetration, Malaysia is important in Boku's global plans to transform the payment ecosystem towards the new generation of payments."
Mark Stannard, Boku's CBO, commented, "The receipt by Boku MY of its authorisation from Bank Negara Malaysia to operate as a Non-Bank Merchant Acquirer is a meaningful addition to Boku's extensive network of payment licences. Our expansion in Malaysia is a further example of delivering the quality connections we are known for."
Enquiries:
Boku, Inc.
Jon Prideaux, Chief Executive Officer
Keith Butcher, Chief Financial Officer +44 (0)20 3934 6630
IFC Advisory Limited (Financial PR & IR)
Tim Metcalfe
Florence Chandler +44 (0)20 3934 6630
Notes to Editors
Boku Inc. (AIM: BOKU) is a leading global provider of mobile payment solutions. Boku's mobile-first payments network, including mobile wallets, direct carrier billing, and account to account/real-time payments schemes, reaching over 7.5 billion mobile payment accounts through a single integration.
Customers that trust Boku to simplify sign-up, acquire new paying users and prevent fraud include global leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, Netflix, Sony, Spotify and Tencent.
Boku Inc. was incorporated in 2008 and is headquartered in London, UK, with offices in the US, India, Brazil, China, Estonia, France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan and Vietnam.
To learn more about Boku Inc., please visit: https://www.boku.com