Malaysia has become the first Asia-Pacific country to roll out Mastercard Bill Pay, a new bill management tool that combines electronic bill presentation and payment in one place. Officially launched in Kuala Lumpur yesterday (10 January 2023), the tool is available to consumers via ATX’s digital wallet GoPay and web-based online payment platform PayHub2U.
As reported by Bernama, Mastercard made the rollout in collaboration with ATX Fintech Holdings Sdn Bhd in our country, a partnership that Mastercard country manager for Malaysia and Brunei, Beena Pothen deemed as ‘timely’. She further shared that over USD25 billion or ~RM109.31 billion in bill payment volumes across one billion bills are paid annually in Malaysia and that more people are using e-payment services for bills since the pandemic.
However, from that amount, only 50 per cent of it is digitised. Hence, that is where Mastercard comes in, whereby its Bill Pay can support the government and Bank Negara Malaysia’s initiative to make payments digital.
With the tool, consumers would be reminded about the bill and make payments using a single sign-on. It also enables consumers to view and consolidate all their bills from multiple billers and payment could be made from the various options available. These include linking their bank accounts and saving their card credentials.
Meanwhile, ATX founder and CEO Sahsi Kumar asserted that with GoPay and PayHub2U’s support, Mastercard Bill Pay would provide greater efficiency, transparency, speed and accessibility for consumers.
ATX has integrated 13 billers so far and is keen to expand tis network through more partnerships in the coming months. This is to enure that consumers have more choices and have access to more conveniences.
So, what do you guys think of Mastercard Bill Pay in Malaysia? Share your thoughts with us in the comments below and stay tuned to TechNave for more tech news from Malaysia and bayeond.
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