Kuala Lumpur, April 12 2017 – GHL Systems Berhad’s (“GHL”) wholly owned subsidiary, GHL CardPay Sdn Bhd (“GHL CardPay”), a leading player in the payment space in the region today announced an acquiring license agreement with Mastercard that will help GHL to offer electronic payment services and enhance card acceptance infrastructure for Mastercard products and solutions. The agreement will benefit many small scale Malaysian merchants and sole proprietors that represent a rapidly-growing but underserved segment. By providing a simplified online registration process, the initiative looks to encourage many of the approximately 500,000 Tier 4 smaller merchants (Defined as having a turnover of <RM12 million p.a.) to utilise simple, safe and smart e-payment offerings. Instead of accepting cash, these merchants can now go digital and address consumers’ evolving payment and shopping needs. Consumers who shop at these merchants will now be able to make easy and swift payments using any Mastercard card be it prepaid, debit or credit card. “The association with GHL underscores Mastercard’s commitment to continually develop more innovative products and solutions and accelerate card acceptance amongst Malaysia’s business community especially, smaller players that have great potential to grow and scale when equipped with e-payments capabilities. Epayments come with benefits that will be valuable to smaller merchants as it will provide a platform for them to move away from cash dependence and digitise operations to offer simple, safe, smart propositions for their consumers. Cashless is the new way to pay in today’s world and with Malaysia aspiring to be a cashless society, the initiative will allow us to contribute to Malaysia’s e-payments agenda,” said Perry Ong, Country Manager, Malaysia and Brunei, Mastercard. GHL’s strategy will be to scale upwards and increase card payments acceptance in all the countries in which it operates including Malaysia. This is congruent with Bank Negara’s push for a quicker migration to e-payments and goal of achieving 800,000 acceptance points by 2020. Upon successful completion of the merchant registration process, GHL will provide merchants with mobile Point-of-Sale (mPOS) terminals to enable them to readily accept e-payments. While, systems integration work will be completed towards the end of the year, GHL expects that thousands of stores will stand to benefit by end- 2018. These include but not limited to; coffee places, restaurants, convenience stores as well as sole proprietors such as electricians, plumbers and other household service providers. GHL will be able to offer an e-payment solution to everyone that needs it. “We are delighted to partner with Mastercard and hope to leverage on each other’s strengths and advantages to continue to grow our presence in Malaysia and in ASEAN. Malaysia has an enormous small merchant segment that remains untapped for card payments. We intend to tap into that segment using an entirely differentiated underwriting and sign-up process. As for the larger merchant segments, we will continue to work synergistically with Banks as we have done for years,” said Danny Leong, Group CEO of GHL Systems Berhad.
KUALA LUMPUR (April 12): GHL Systems Bhd is purchasing a licence from Mastercard that will help the group offer electronic payment services and enhance card acceptance infrastructure for Mastercard products and solutions.
In a statement today, GHL said under the licence agreement, GHL's wholly-owned subsidiary GHL CardPay Sdn Bhd will be able to offer an e-payment solution to everyone who needs it.
"By providing a simplified online registration process, the initiative looks to encourage many of the approximately 500,000 Tier 4 merchants (with a turnover of less than RM12 million per year) to utilise the e-payment offerings," it added.
“Malaysia has an enormous small merchant segment that remains untapped for card payments. We intend to tap into that segment using an entirely differentiated underwriting and sign-up process. As for the larger merchant segments, we will continue to work synergistically with banks, as we have done for years,” said GHL group chief executive officer Danny Leong.
Upon successful completion of the merchant registration process, GHL will provide merchants with mobile point-of-sale terminals to enable the merchants to readily accept e-payments.
While systems integration work will be completed towards the end of the year, GHL expects thousands of stores to benefit by end-2018.
Sorry to late inform here. I received internal tips on tuesday that ghl will announce a big news, hope u all can buy it on time. Tomorrow lets see the magic show.
Do not estimate on line business n its potentials in future. Many had predicted that shops, malls n mega malls will b a things in the past as the new business need only 1 big factory just for storage n the distributors can arrange the services elsewhere . What they need is more courier delivery men to send to all their customers via various mode of transportation. All costs like rents , utilities e.g. Electricity n water can be reduced greatly n thus goods r cheaper to the hands of customers. All these bode well for any new n upcoming entrepreneurs but seasoned businessmen will b wept out totally. Shops , malls n megamalls will b redundant n these can translate to less jobs n more unemployment, more lay off . Good or bad can b judge both ways n this will b the price we must pay for the advancement of technology.
Not sure why, CEO, COO and 1 Exec Director. Probably another twist in the take over. For sure they didn't sell at RM1 and the Exec Director still got some left.
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 312 views | 2 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11544 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
stayfocused
143 posts
Posted by stayfocused > 2017-04-12 12:57 | Report Abuse
Fact is that the takeover will not happen