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Payments Network Malaysia Sdn Bhd (PayNet) is the national payments network and shared central infrastructure for Malaysia’s financial markets. It was formed from the merger between the Malaysian Electronic Payment System (MEPS) and Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) on 1 August 2017. [ 1 ]
The following is a list of notable online payment service providers and payment gateway providing companies, their platform base and the countries they offer services in: (POS -- Point of Sale ) Company
Gas Malaysia Berhad was established on 16 May 1992 to sell, market and distribute natural gas as well as to develop, operate and maintain the Natural Gas Distribution System (“NGDS”) network within Peninsular Malaysia. In December 2000, Gas Malaysia expanded its business to include the reticulated liquefied petroleum gas. [citation needed]
With the result of the merger, PayNet is now the holding company for the PayNet Group which comprises two main subsidiaries, namely Malaysian Electronic Payment System Sdn Bhd (MEPS) and MEPS Currency Management Sdn Bhd (MCM). The PayNet Group is Malaysia's premier payments network and central infrastructure for financial markets.
When a customer orders a product from a payment gateway-enabled merchant, the payment gateway performs a variety of tasks to process the transaction. [2] [failed verification] The order is placed. The payment gateway may allow transaction data to be sent directly from the customer's browser to the gateway, bypassing the merchant's systems.
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They will often provide merchant services and act as a payment gateway or payment processor for e-commerce and brick and mortar businesses. They may also offer risk management services for card and bank based payments, transaction payment matching, digital wallets, reporting, fund remittance, currency exchange and fraud protection.
Touch 'n Go eWallet joined DuitNow, an electronic transaction ecosystem in Malaysia which allows the funds from Touch 'n Go eWallet to be transferred to other competing services and vice versa, and allows users to make payments to merchants that use only one unified DuitNow QR code, which can also be used by competing e-wallet apps. Announced ...
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