Huge dividend... next 100 years..

Fantastic idea....thats why Singapore is ahead of us.

SINGAPORE (Sept 17): Singapore on Monday launched the Singapore Quick Response Code (SGQR), which combines multiple payment QR codes into a single SGQR label.

Photo: Minister Ong Ye Kung testing out the new SGQR label to make a purchase.

The first of its kind globally, SGQR will be adopted by 27 payment schemes, including PayNow, NETS, GrabPay, Liquid Pay and Singtel DASH.



To be deployed progressively over the next six months, SGQR will replace more than 19,000 QR codes currently in use at store fronts and billing statements.

ith the consolidation of QR codes, merchant will only need to display a single SGQR label showing the e-payments it accepts, leading to less clutter on the store front and quicker payments processing.

The addition of new QR payments options – both domestic and international – are also streamlined into the single SGQR label.

Consumers will now be able to choose their preferred payment scheme from the accepted options on the SGQR label, log in to the relevant payment app, and scan to pay.

“These may well be the last few jigsaw pieces for us to put in place to complete the national e-payment infrastructure,” says Minister of Education Ong Ye Kung, who is also a board member of the Monetary Authority of Singapore (MAS).

“QR code payments have been growing and many cash-intensive merchants, such as hawkers, are accepting them. But every scheme – e-wallet, PayNow, NETSPay – all issue their own QR code. This causes confusion,” Ong says at the launch of SGQR.

To solve this, MAS and the Info-communications Media Development Authority (IMDA), with the support of the Payments Council, last year brought Singapore’s QR industry together to streamline the process.

See: Singapore to roll out unified SG QR for electronic payments by 2018

“The launch of SGQR is a very welcome development,” says Tan Su Shan, managing director and group head of consumer banking and wealth management at DBS Bank. “We believe the standardisation of QR code standards gives consumers greater freedom in their choice of payment platforms and will further popularise the adoption of e-payments.”

According to Tan, there has been an explosive growth in the usage of QR code transactions in Singapore. “DBS PayLah! recently hit a peak of 1.2 million monthly QR code transactions – some 15 times higher than the average monthly QR code transactions recorded in the first quarter of this year,” she says.

See: Singapore aims to reduce cash transactions, eliminate cheques amid e-payments push

Ong today also announced the forming of a Direct FAST industry working group to develop business and technical requirements for non-banks to connect directly to FAST.

“This is a major milestone for our infrastructure development,” Ong says. “Open access to a common infrastructure like FAST means that banks and non-banks will have to compete harder to gain and retain customers. They will have to innovate and offer value-added services constantly to stay ahead of the curve.”

At the same time, Ong says new requirements will be included in the upcoming Payment Services Bill to set minimum standards, which will address a range of potential risks related to e-payments.

“All these efforts will come to naught if people do not feel safe using e-payments. The last piece of the e-payments jigsaw is regulations for payments that are transparent, easily understood and give sufficient peace of mind to all parties,” he says.

See: Cashless society should not leave anyone behind

Celcom Axiata signs Safe Pay with Hong Leong Bank. Today Dataprep says venturing into e wallet business next year. NetX? Will continue to dream.....

the de nition of e-com- merce and online businesses to see if they qualify for exemption under the new sales and service tax (SST) regime for supporting the growth of the country’s digital economy, said Finance Minister Lim Guan Eng.
“We have to see the de nition of online business. If you look at infor- mation technology (IT) services for example – it should face a 6% service tax but we decided to give a leeway.
“For instance, cloud service pro- viders — under IT services — they will be charged 6% but because it is a cloud service provider [and] rides on the server of telecommunication
providers, we don’t impose the tax at the business-to-business level to avoid multiple taxation, he told reporters at sales and services tax brie ng here yesterday.
He said exemptions are given in sectors where the government is keen on encouraging them. But he said the government will not be able to give full tax exemption for IT services, where the de nition is very wide.
“So we have to ensure that it is re- ally related to IT, and that it contrib- utes to the digital economy [before an exemption is given],” Guan Eng said when asked to comment on the government’s taxation plan for e-commerce and online businesses.
He reiterated that the SST’s taxa-
ble and exemption list is a living list — meaning it can be changed any time — and that the government will continue to engaging with people and businesses in order to be fair to all and to encourage economic growth.
“ e entire economic structure has changed (as) we enter the In- dustry 4.0 (era). In this digital econ- omy, we nd that traditional busi- nesses have changed or modi ed. Sometimes these changes have to be re ected in the taxation system.
“Previously, we did not see tax exemptions (under the now de- funct goods and services tax) but now the exemptions arise. I want to stress the list is a living list. We want the economy to move with the times,”

Finance minister says e commerce companies will get tax incentives

Sell and dont look at this anymore. Its a dead counter. Those who buy will also end up dead..haha

Delisting coming... Told you guys not to buy this stupid stock..

Q4 2019?? ...kekeke. Why not launch in 2025.?

Don't worry guys.... Malaysia baru will have a super bull run coming... before GE15. Between now and 5 years.... or sooner!

Hahaha...not surprising.. QR Loss 3.4m ..switch to BOOST la...

MSC 2 will be serious project. It will drive the country's digital transformation. Not like the DFTZ project even kucu kurap companies jump in for fun.

Get ready for re launch of MultiMedia Supercorridor2!!

You see when you deal in e money business, people need to hav confidence in your company. A 2sen company and loss making tells you all. BOOST is related to AXIATA .

Beautiful write up. Tapi kapal kosong...

Hong Leong customers can link their debit cards to WeChat’s e-wallet – WeChat Pay – and use it as alternative payment option.

WeChat, a social communication platform developed by China’s Tencent Holdings Ltd, introduced WeChat Pay earlier this week and HLB claims it’s one of the first banks in Malaysia to partner with the company.

The partnership makes Malaysia the first country outside of China and Hong Kong that allows WeChat users to make payments in the local currency.

This development comes on top of HLB’s cross-border collaboration with Tencent in November last year that enables Chinese tourists to pay using their WeChat accounts when visiting Malaysia.

“When we took the step to become a merchant acquirer for WeChat Pay in Malaysia, we were not only looking to expand the payment ecosystem to enable our Malaysian merchants to cater to the Chinese tourists market,” said HLB group managing director and chief executive officer Domenic Fuda in a statement.

“We were also gearing up our merchant acquisition strategy to prepare for the day when WeChat Pay is available in the local currency, so that our customers and WeChat users in Malaysia are able to use this payment option with a large number of merchants already signed up for the WeChat Pay My facility,” he added.

HLB customers can already pay for their transactions in Ringgit at WeChat’s own shops and platforms as well as third-party services such as Garena, Joox and for local telco mobile prepaid top-ups.

Soon customers would also be able to pay for their shopping, namely Giant, Resorts World Genting, MyNews and GSC, with more to come.

image: https://content.aimatch.com/default.gif

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=



Read more at https://www.thestar.com.my/tech/tech-news/2018/08/23/hong-leong-bank-customers-can-now-link-their-debit-cards-to-wechat-e-wallet/#S7rmV2iFMOWCZcCH.99

Want to do, doing and getting it done are different things. Look at MPay. One of the earliest to jump into e wallet 4 years ago. Signed tons of MOU but now still zero visibility. They also had a lot of plans but all talk.

Ask pasar malam traders do they know about payallz wallet? They know BOOST! Not even in shopping malls!

Yesterday I saw BOOST having a promotion stall in Ss2 pasar malam! Some hawkers actually signed up as merchants! This is vision!!

looks like director sleeping and no vision. Maybe this budget e wallet companies will get tax incentives. Then all wake up...

Look at the style WeChat pay launch their product today..

WeChat users can now pay using their app with the roll out of its e-wallet component, WeChat Pay My.

“As Malaysia embraces the digital economy, we are excited to launch WeChat Pay My, which aims to facilitate the development of the Malaysian market by introducing local users and businesses with a simple, secure and convenient mobile payment experience,” says Tencent International Business Group vice president Poshu Yeung

To celebrate the launch, “Money Packets” will be given away to all users of WeChat Pay My who sign up between Aug 21 and 28, it claims.

The Money Packet will be filled with a random amount ranging from RM3.88 to RM88.88, and a prepaid top-up coupon of RM2 will also be given away.

image: https://content.aimatch.com/default.gif

image: https://content.thestar.com.my/smg/settag/name=lotame/tags=

Money Packets is a peer-to-peer payment system that allows users to transfer money to others or a group with no service charge.

Poshu says that WeChat Pay My has received Bank Negara’s approval to act as an electronic money issuer, and has implemented security technologies that comply with international standards, including 24/7 real-time monitoring of all transactions.

Other features include Quick Pay which allows users to generate a QR code that merchants can scan to pay for a transaction and Debit Card Binding which lets users associate multiple cards to top up their e-wallet.

Users can also withdraw money from their accounts by transferring it to their local bank accounts as long as it doesn’t exceed RM10,000 a month.

WeChat is a social communication platform developed by China’s Tencent Holdings Ltd.

Read more at https://www.thestar.com.my/tech/tech-news/2018/08/20/wechat-introduces-its-ewallet-wechat-pay/#es6I3uyyM2sOIKSJ.99

So where is payallz heading??

1sen. Sure can get...

No point buying this stock la. That's why it's just 2sen. Lelong also nobody want to buy

Allz pay e wallet should be called a f wallet. Look at REVENUE. ...shooting past rm1. Other aggressive e wallets like FAVE , GRABPAY and BOOST are fast expanding their market share!!

TUn M visiting China next friday. Possible discussion on e wallet and cashless payment systems .

Yes. Think SC is monitoring company tatics like this

How many merchants hv they signed up??

Allz e wallet. Why need to register?
Wonder how many people using it. No advertisements. No roadshows. = no awareness.

Even Touch n Go new app now having roadshows in PJ.

Shiok sendiri app

Seriously NEVER seen this app before, and never seen people using this before

Selling with huge volume.... something bad coming??

Dead stock. Impotent.

Yup. Not Khazanah but Tabung Haji. IPO Was rm4.80.

PM says Khazanah has deviated from original objectives. Will Khazanah sell ICON??

Will NetX sign up with SC for P2P license??

PN17 comingggg???????

KUALA LUMPUR, June 26 — Prime Minister Tun Dr Mahathir Mohamad has said that Putrajaya may consider changing the country’s currency or going cashless in order to combat corruption.

The next phase of growth...cashless payments systems..

Some warrants play last few days. Maybe Netx we soon

Downtrend

Icon ipo is rm 4.80. Under Khazanah. Will continue to benefit from Petronas contracts.

Icon will benefit from Petronas new chief.?

Who is the 3rd buyer for this block?? Is it "M" ??

No news..

DTFZ will go on. !

GHL...riding the ASEAN E-payment systems. Looks like the 2nd craze of e payments is coming back. NetX as reported before has ASEAN presence. What happened??

New boss at Petronas. Council of Elders. Oil & gas industry will see return of good old days. Buy n keep.

Mokhzani to come in as new investor?

Wechat launching on 11June. E commerce counters nxt rally play?