15 December 2017
visit www.ebaday.com

Malaysia contracts with ACI Worldwide for real-time payments platform

13 November 2017  |  4434 views  |  0 Digital Arrow chart

Malaysia is to implement a real-time payments network with the potential for cross-border P2P links to Thailand and Singapore.

Payments Network Malaysia (PayNet), the national financial market infrastructure provider established in August 2017, has firmed up plans to build the country's Real-time Retail Payments Platform (RPP) using ACI’s UP Immediate Payments package as the backbone technology for the project.

In 2017, PayNet will set up the Core RPP infrastructure, while 2018 will see the launch of Instant Credits, Request-to-Pay for e-commerce and person-to-person (P2P) via the use of mobile phone contacts, National Registration Identity Card (NRIC) numbers, or business registration identifiers.

Peter Schiesser, group CEO, PayNet, says: “Among the innovative new products in our pipeline is instant cross-border payments where sending payments regionally and globally would be as quick and easy as sending a text message. We are in discussions with our counterparts in Thailand and Singapore to bring this exciting new service to life.”

ACI actively participates in a host of national instant payment schemes, including the UK's Faster Payments, the EBA's pan-European Sepa platform, Singapore Fast and the Australian NPP.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Malaysia sets out fintech sandbox framework

Malaysia sets out fintech sandbox framework

19 October 2016  |  17712 views  |  0 comments | 9 tweets | 5 linkedin
Malaysian central bank investigates fintech regulation

Malaysian central bank investigates fintech regulation

13 May 2016  |  12352 views  |  0 comments | 4 tweets | 2 linkedin
Maybank launches contactless wristbands

Maybank launches contactless wristbands

08 January 2016  |  10412 views  |  0 comments | 21 tweets | 16 linkedin

Related company news

 

Related company information

ACI Worldwide

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.solutions.lexisnexis.comvisit www.ebaday.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
10001 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9427 views comments | 17 tweets | 36 linkedin
Brits flock to digital-only banksBrits flock to digital-only banks
7435 views 11 comments | 11 tweets | 15 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
6860 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6252 views 0 | 4 tweets | 2 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job