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ManagePay is UnionPay third party service provider
by Cals Wed 22 Apr 2015, 19:29
ManagePay is UnionPay third party service provider
KUALA LUMPUR: ManagePay Systems Bhd’s wholly-owned subsidiary, ManagePay Resources Sdn Bhd (MRSB), has received a letter of notification from UnionPay International Co Ltd, on the registration of MRSB as a UnionPay third party service provider.
Upon registration, the electronic payment solutions provider will be responsible for switching and gateway services, system operation and product management of UnionPay card issuance in Malaysia, Myanmar, Thailand, Singapore and Indonesia.
“MRSB is responsible to apply to UnionPay in advance if MRSB desires to expand or change the services type and/or territory other than those listed above,” said ManagePay (fundamental: 1.5; valuation: 0.6) in a filing with the exchange yesterday.
UnionPay is a bank card association based in China. Deemed as China’s own version of Visa and MasterCard, UnionPay card is most widely used in the mainland and among Chinese tourists.
ManagePay shares closed 1.5 sen higher at 32.5 sen yesterday, translating into a market capitalisation of RM124.83 million.
This article first appeared in The Edge Financial Daily, on April 22, 2015.
KUALA LUMPUR: ManagePay Systems Bhd’s wholly-owned subsidiary, ManagePay Resources Sdn Bhd (MRSB), has received a letter of notification from UnionPay International Co Ltd, on the registration of MRSB as a UnionPay third party service provider.
Upon registration, the electronic payment solutions provider will be responsible for switching and gateway services, system operation and product management of UnionPay card issuance in Malaysia, Myanmar, Thailand, Singapore and Indonesia.
“MRSB is responsible to apply to UnionPay in advance if MRSB desires to expand or change the services type and/or territory other than those listed above,” said ManagePay (fundamental: 1.5; valuation: 0.6) in a filing with the exchange yesterday.
UnionPay is a bank card association based in China. Deemed as China’s own version of Visa and MasterCard, UnionPay card is most widely used in the mainland and among Chinese tourists.
ManagePay shares closed 1.5 sen higher at 32.5 sen yesterday, translating into a market capitalisation of RM124.83 million.
This article first appeared in The Edge Financial Daily, on April 22, 2015.
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