KenaSaman.com

KUALA LUMPUR: Malaysians will soon be able to use their Touch n Go cards on more transactions like shopping and medical care following the strengthening of its electronic payment system.

CIMB Group chief executive Datuk Seri Nazir Razak said the company had collaborated with the Government and several other agencies to set up a new e-payment system that would allow more transactions to be made using Touch n Go cards.

“We are working with a committee under the Performance Management and Delivery Unit (Pemandu) to enhance our e-payment capabilities,” he told a press conference yesterday.

CIMB Group owns a 52.22% stake in Touch n Go. The other share-holding partners are MTD Capital Bhd with 27.78% and PLUS Expressways Berhad (20%).

Nazir said the latest move would benefit card holders, ensuring easier payments at more retail outlets, restaurants, fast food chains, cinemas and theme parks nationwide.

“Reloading of card value could also be done with participating banks, petrol stations and convenience shops,” he said.

However, he added that the shift towards an electronic payment system required a big sum of money before it was implemented.

“The project needed a substantial amount of money with CIMB Group investing some RM200mil to enhance its system,” he said.

He noted that the company was looking into establishing a pilot project by integrating the smart phone with e-payment system.

“People then could just bring their smart phones around and make payments with our technology,” he said.

He said the broad framework of the coming project had been set up and needed to be finalised.

“The framework is scheduled to be available in the next few months,” said Nazir.

Read the full article:
http://thestar.com.my/news/story.asp?fi ... sec=nation