MPay unit, MyAngkasa ink JV agreement

07 Dec 2018 / 13:14 H.

PETALING JAYA: ManagePay Systems Bhd (MPay) and MyAngkasa Holdings Sdn Bhd have inked a joint-venture (JV) agreement to leverage on the former’s affiliates’ skill, expertise and know-how to develop an Asean cooperative organisation (ACO) digital economy ecosystem.

MPay told the stock exchange that its unit ManagePay BuyMalaysia Sdn Bhd has entered into a joint venture and shareholders’ agreement with MyAngkasa to set up a 90:10 JV company.

The group said the proposed JV will also include the development of mobile wallet coupled with a cobranded MasterCard Prepaid VCN, a lending platform, MPay Pro payment acceptance system, MPay co-branded mobile SIM pack and a marketplace.

MPay said the partnership will provide growth and business prospects for the group in the future.

The group will fund its investment in the JV company through its internally generated funds, it added.

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