KUALA LUMPUR (Dec 2): Cuscapi Bhd has entered into a memorandum of understanding (MOU) with iPay88 (M) Sdn Bhd for a collaboration to offer competitive solutions to end-consumers in the food and beverage (F&B) industry. 

In a bourse filing, the company said the MOU will enable Cuscapi to leverage on Ipay88’s dominant position in the online and mobile payment space, whilst exploring business opportunities and potential cross-selling of Cuscapi’s C360engage — an intelligent cloud point-of-sales (POS) system — to iPay88’s host of F&B customers. 

Meanwhile, Cuscapi’s C360engage platform will employ Ipay88’s online and mobile payment solutions for a seamless and hassle-free transaction process. 

The MOU will be in effect for an initial period of one year and may be renewed by mutual agreement between the parties. 

“Whether it’s online, mobile or physical restaurants & cafes, the future of F&B business depends strongly in making authentic connections with customers and engaging with them on a personal level,” said Cuscapi group chief executive officer Anthony Gerald Victor in a statement. 

“With this strategic partnership, customers need not stand in line and wait to pay for their purchases. They can pay cashless via e-wallet or various digital payment modes that are available on C360engage Cloud POS via Ipay88, from anywhere in the premise,” he added. 

Cuscapi’s share price closed unchanged at 16 sen today, giving it a market capitalisation of RM137.48 million.