Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=697828
Published: September 28, 2012
KUALA LUMPUR, Sept 27 (Bernama) -- MOLPay today signed a memorandum of
understanding (MoU) with MAD Incubator for the development of
entrepreneurs in e-commerce.
MOLPay said the important agreement represents a further significant
step forward in the development of e-commerce in the country.
MOLPay said the collaboration will encourage and enable easier adoption
of secured online payment by companies that are selling products or
services online, bringing substantial benefits to the local e-commerce
industry.
MOLPay presently has more than 2,500 online merchants and is compliant
with global security standards including Payment Card Industry: Data
Security Standards (PCI DSS), HackerSafe and with the Malaysian Payment
Systems Act 2003.
MOLPay said once the online store or e-commerce website integrated with
its gateway, it can accept wide range of online payment options used by
online shoppers to pay for their online purchases, such as credit card,
online banking, e-wallet and physical payment, it said in a statement.
MOLPay said it will establish and maintain all online data processing
facility capabilities including merchant approvals and maintenance to
support real time payment transaction processing.
As a third party acquirer, MOLPay will also implement a risk management
system that are capable of detecting, managing and reporting the
incidences of fraudulence transactions and unwarranted chargebacks that
merchants deal on a daily basis.
MAD Incubator, a business and technology incubator, counts
internet-based businesses as one of its core business incubation areas.
MOLPay is the first multi-currency payment gateway in Southeast Asia
that accepts cash payments for online purchases through physical outlets
such as convenience stores and bookstores.
-- BERNAMA
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