AmBank, Malaysia will be going live using ECSFin’s Real-time Payments application which includes modules for Credit Transfer, PayNow (m-Commerce), National Addressing Database (NAD) and Pay by Proxy.
Real-Time Retail e-Payments Platform (RPP) is a new payments platform introduced by PayNet (formerly known as MyClear) which offers both payment & collection services.
With instructions emanating from central bank, all banks in Malaysia are to join RPP and offer payment services in three different groups. PayNet will build the RPP core infrastructure, gateway connectors and payment services in Phase 1 which will go live by June 2018, while collection services in Phase 2 are planned to go live by 2019.
ECSFin is a New York based enterprise solutions provider founded in 1999 known for their try/buy offerings. ECSFin has offices across North America, South America, Middle East, and Asia-Pacific regions.