Bank Negara Malaysia E Money License

This e money licensing guide sets out the. Of these 46 e wallet issuers only 5 of them are banks the rest are all non bank organisations. As malaysia s central bank bank negara malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the malaysian economy.

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Jalan dato onn 50480 kuala lumpur malaysia.

Bank negara malaysia e money license. It appears as a digital number inside an e wallet. Contact info bank negara malaysia p o. Only e wallet providers who issue e money which can be used with multiple merchants technically known as open loop will require an e money license from the bank negara malaysia. The display will be optimised according to your screen size.

While you ve definitely heard of the more popular e wallets like grabpay boost and touch n go ewallet did you know that there are currently a total of 46 official e money issuers regulated by bank negara malaysia. As of january 2019 there are 39 non bank providers authorised to issue e money in malaysia as well as five banks. Numerous local firms sit alongside us giants paypal and google payment and chinese mobile payment behemoths alipay and wechat pay on the central bank s register of non bank e money issuers. Bank negara malaysia department of statistics malaysia 2018 gsma mastercard newzoo pwc research analysis 20 13 25 31 5 44 2016 1h 2018 33 going shopping.

Bank negara malaysia bnm on friday unveiled the proposed framework for the licensing of digital banks that intend to offer products and services to address market gaps in malaysia s. Jalan dato onn 50480 kuala lumpur malaysia. The licence is renewable yearly said the company in the filing. You can leave your wallet at home.

This website is best viewed in. 1300 88 5465 bnmtelelink 603 2698 8044 general line bnmtelelink bnm gov my. In a filing with bursa malaysia today managepay said it had received from bank negara malaysia bnm the class b licence to carry out money services business for a one year period for issuance of electronic money pursuant to the money services business act 2011. E money is like our money either in the form of coins or notes.

In addition to non bank e money issuers there are 5 bank e money issuers number of approved non bank e money issuers in malaysia source. Grab malaysia and south east asia s leading e hailing service has received e money licence for payments services from bank negara. Managepay first received the letter of award from bnm in february 2015 to issue e money via its proposed online wallet called mpay balance and prepaid card mpay. As malaysia s central bank bank negara malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the malaysian economy.

Box 10922 50929 kuala lumpur. These documents are formulated in accordance with the provisions of the anti money laundering anti terrorism financing and proceeds of.