ManagePay’s payment solution for insurers named ‘Best Financial Application’

by **Cals** Fri 09 Oct 2015, 22:57

ManagePay’s payment solution for insurers named ‘Best Financial Application’

By Supriya Surendran / theedgemarkets.com | October 9, 2015 : 9:06 PM MYT

KUALA LUMPUR (Oct 9): [size=16]ManagePay Systems Bhd ([You must be registered and logged in to see this image.] Valuation: 0.00, Fundamental: 1.30)’s has won the ‘Best Financial Application’ award for its MPay InsureWorks Solution at the MSC Malaysia Asia Pacific Information Communications and Technology Awards (APICTA).

MPay InsureWorks is an innovative managed payment solution designed for insurance providers to overcome challenges such as payment collection, data reconciliation and cyber security, said ManagePay in a statement today.

“It provides end-to-end processing, from electronic data payment application using Mobile POS (MPOS) and integrated POS (iPOS) devices, to fully integrate back-end payment reconciliation system between insurance providers and bank hosts,” it explained.

MSC Malaysia APICTA is an initiative of the Multimedia Development Corporation and is organised by The National ICT Association of Malaysia. The awards ceremony took place last Tuesday.

“MPay InsureWorks provides onmi-channel payment collection options to insurance provider via three customer service channels, namely self-service portals, branch offices and agents on the move, enabling the payment for insurance premium to be collected at any time, from anywhere; as well as the reduction in the processing time from weeks to just one day.

"Winning this award is indeed timely, as it has opened the door to numerous opportunities and possible collaborations, because there is a significant demand in this region where Electronic Payment and Financial Technology are concerned. We look forward to working with organizations on their end-to-end and omni-channel payment initiatives,” said ManagePay group managing director and chief executive officer Chew Chee Seng.

ManagePay will be representing Malaysia at the annual International APICTA Awards in Sri Lanka on Nov 18, 2015.

Its shares closed up 0.5 sen or 1.85% today at 27.5 sen, with a market capitalisation of RM191.83 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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