PUC’s subsidiary, FPSB will be leasing mobile payment terminals to RMSB as part of the partnership agreement to support its merchant acquiring business in order to facilitate WeChat Pay transactions in Malaysia
ACE Market-listed Company, PUC Berhad ("PUC") today announces that its wholly owned subsidiary, Founder Pay Sdn Bhd ("FPSB") has signed a Memorandum of Understanding ("MoU") with Revenue Monster Sdn Bhd ("RMSB"), a payment solutions provider and the first appointed merchant acquirer of WeChat Pay in Malaysia, to facilitate WeChat Pay transactions.
Upon the recent arrival of WeChat Pay in Malaysia, FPSB will partner with RMSB by leasing Android-based payment terminals to the latter in order to facilitate its merchant acquiring business. The partnership with RMSB will enable Malaysian merchants, retailers and business owners the ability to accept QR code payments at their point of sale (also known as a two-dimensional barcode or quick response code), starting with WeChat Pay and soon other wallets in phase two.
Group Managing Director and Chief Executive Officer of PUC, CHEONG Chia Chou highlights that this is an opportunity for PUC in view of the growing business potentials coupled with the increasing acceptance of eWallets among consumers in Malaysia.
He shares, "PUC will enter into a revenue sharing partnership with RMSB through the leasing of payment terminals, which PUC will be able to receive a portion of the transaction fee from every eWallet payment performed using these terminals. On top on that, PUC and Revenue Monster will be able to encourage the adoption of digital lifestyles among local consumers through the usage of eWallets in their daily life. This can be used for items such as online shopping, marketing promotions, deals & voucher purchases and redemptions leveraging on the terminals' network."
eWallets can be used as an alternative to cash, credit and debit cards as it is convenient and secure at the point of transaction and the high mobile penetration in Malaysia can further drive the adoption of eWallets.
Ken Lim, Chief Executive Officer of RMSB also shares, "Mobile payment is revolutionary to the payment industry as it will change the way purchases are made and processed in Malaysia. eWallets promises convenience for both online and offline payments, and consumers can complete a purchase in mere seconds with a scan of their device, minimising the frustration of long checkout queues. For merchants, this provides the potential to reduce costs such as lowering fraud loss or payment processing fees - the latter of which is often cited by merchants as the biggest expense after labour."
Additionally, RMSB offers progressive and comprehensive products and solutions, such as a remote terminal management system for centralised business operations, customisable food-ordering management services, together with an integrated management portal that allows merchants to manage its own Facebook Messenger and WeChat social media page to publish promotions and manage customer loyalty programmes.
In the long run, the partnership with RMSB will also unlock future business potentials as the terminals can be configured to accept other eWallets in Malaysia with RMSB's intellectual property, a unified QR code system that can be accepted by and is interoperable between various types of eWallets.
CHEONG adds, "PUC's wholly owned subsidiary, EPP Solution Sdn. Bhd. is an approved eMoney issuer by Bank Negara to provide eWallet services. Through the partnership , EPP's soon-to-be launched eWallet service can be configured into the terminals to expedite and achieve greater market adoption, in line with our business direction to be a digital lifestyle technology services provider. "
Moreover, PUC may collaborate with RMSB to support its social marketing mobile application, Presto Deals. Prior to leasing the terminals to RMSB within the next few months, these terminals will be configured to facilitate Presto Deals' redemption.
Presto Deals is a unique social marketing platform in Malaysia that offers more than 1,000 deals and vouchers with great discounts, and on top that, consumers can enjoy cashback incentives by sharing their purchases over social media. The deals and vouchers can be redeemed and consumed at the participating merchants subsequently.
WeChat Pay is one of the most widely used mobile payment methods in China, and in Malaysia WeChat already has 20 million active users. With a fast-growing network of retailers, RMSB is confident with the wider adoption of mobile payments in Malaysia.
As WeChat's appointed third-party acquirer for both local and cross-border wallet merchants in Malaysia, RMSB is committed to offer end-to-end services to help merchants to accept both WeChat Pay local (MYR) payments and foreign (RMB) payments from Chinese tourists. Lim ends, "In conjunction with the WeChat Pay launch in Malaysia, all WeChat users have received Money Packets with random amounts and a mobile top-up coupon for them to utilise. This is a timely opportunity for merchants to come on board with RMSB to leverage on the new WeChat Pay service."
Upon the recent arrival of WeChat Pay in Malaysia, FPSB will partner with RMSB by leasing Android-based payment terminals to the latter in order to facilitate its merchant acquiring business. The partnership with RMSB will enable Malaysian merchants, retailers and business owners the ability to accept QR code payments at their point of sale (also known as a two-dimensional barcode or quick response code), starting with WeChat Pay and soon other wallets in phase two.
Group Managing Director and Chief Executive Officer of PUC, CHEONG Chia Chou highlights that this is an opportunity for PUC in view of the growing business potentials coupled with the increasing acceptance of eWallets among consumers in Malaysia.
He shares, "PUC will enter into a revenue sharing partnership with RMSB through the leasing of payment terminals, which PUC will be able to receive a portion of the transaction fee from every eWallet payment performed using these terminals. On top on that, PUC and Revenue Monster will be able to encourage the adoption of digital lifestyles among local consumers through the usage of eWallets in their daily life. This can be used for items such as online shopping, marketing promotions, deals & voucher purchases and redemptions leveraging on the terminals' network."
eWallets can be used as an alternative to cash, credit and debit cards as it is convenient and secure at the point of transaction and the high mobile penetration in Malaysia can further drive the adoption of eWallets.
Ken Lim, Chief Executive Officer of RMSB also shares, "Mobile payment is revolutionary to the payment industry as it will change the way purchases are made and processed in Malaysia. eWallets promises convenience for both online and offline payments, and consumers can complete a purchase in mere seconds with a scan of their device, minimising the frustration of long checkout queues. For merchants, this provides the potential to reduce costs such as lowering fraud loss or payment processing fees - the latter of which is often cited by merchants as the biggest expense after labour."
Additionally, RMSB offers progressive and comprehensive products and solutions, such as a remote terminal management system for centralised business operations, customisable food-ordering management services, together with an integrated management portal that allows merchants to manage its own Facebook Messenger and WeChat social media page to publish promotions and manage customer loyalty programmes.
Unlocking Future Business Opportunities through a Terminal Leasing Partnership
In the long run, the partnership with RMSB will also unlock future business potentials as the terminals can be configured to accept other eWallets in Malaysia with RMSB's intellectual property, a unified QR code system that can be accepted by and is interoperable between various types of eWallets.
CHEONG adds, "PUC's wholly owned subsidiary, EPP Solution Sdn. Bhd. is an approved eMoney issuer by Bank Negara to provide eWallet services. Through the partnership , EPP's soon-to-be launched eWallet service can be configured into the terminals to expedite and achieve greater market adoption, in line with our business direction to be a digital lifestyle technology services provider. "
Moreover, PUC may collaborate with RMSB to support its social marketing mobile application, Presto Deals. Prior to leasing the terminals to RMSB within the next few months, these terminals will be configured to facilitate Presto Deals' redemption.
Presto Deals is a unique social marketing platform in Malaysia that offers more than 1,000 deals and vouchers with great discounts, and on top that, consumers can enjoy cashback incentives by sharing their purchases over social media. The deals and vouchers can be redeemed and consumed at the participating merchants subsequently.
WeChat Pay is one of the most widely used mobile payment methods in China, and in Malaysia WeChat already has 20 million active users. With a fast-growing network of retailers, RMSB is confident with the wider adoption of mobile payments in Malaysia.
As WeChat's appointed third-party acquirer for both local and cross-border wallet merchants in Malaysia, RMSB is committed to offer end-to-end services to help merchants to accept both WeChat Pay local (MYR) payments and foreign (RMB) payments from Chinese tourists. Lim ends, "In conjunction with the WeChat Pay launch in Malaysia, all WeChat users have received Money Packets with random amounts and a mobile top-up coupon for them to utilise. This is a timely opportunity for merchants to come on board with RMSB to leverage on the new WeChat Pay service."
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