MPay appointed partner for foreigners prepaid programme

PETALING JAYA: ManagePay Systems Bhd (MPay) has received a letter of appointment (LOA) from Majlis Pembangunan Ekonomi Malaysia (Mapem) to appoint MPay as the partner and service provider of e-wallet and MasterCard for the Mapem/MPay Prepaid MasterCard Programme to foreigners in Malaysia.

This programme has received full support from the Prime Ministers's Office via a letter issued on July 17, 2017.

MPay, being the partner and service provider for Mapem/MPay Prepaid MasterCard Programme, will provide foreigners with MPay Wallet mobile app on smart phone; Physical MPay MasterCard Prepaid Card; salary crediting program; and remittance services.

The LOA will not have any material effect on the earnings per share and net assets per share of the company and its subsidiaries for the financial year ending Dec 31, 2017. It will not have any effect on the share capital, gearing and substantial shareholders' shareholdings of the company.

MPay closed 2.75% lower at 27.5 sen, with 21.07 million shares traded.