Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily on November 3, 2017

KUALA LUMPUR: DiGi.Com Bhd has appointed online payment networks MOLPay Sdn Bhd and iPay88 Sdn Bhd as partners for its mobile payment service called “vcash”.

DiGi said vcash will be made available as a payment option for merchants under MOLPay and iPay88’s online payment gateway networks, enabling customers to transact using vcash with thousands of merchants with online shopfronts nationwide.

vcash is a mobile payment application that provides an easy, more convenient way to pay, send, request and store money, said DiGi in a statement.

It is available for all Malaysians regardless of telecom operator, with bank-level security to pay for transactions, deposit cash, and send money to friends and family with its peer-to-peer (P2P) funds transfer capabilities. P2P and ePayment transactions are free for users.

DiGi chief digital officer Praveen Rajan said the group’s move into financial technology is a natural progression of its connectivity business.

“Our entry into the fintech space is a key part of DiGi’s strategy to explore new digital verticals and bring them to market, effectively building a new pipeline of digital services that will drive our future growth. With the agreement between vcash, and MOLPay and iPay88, more Malaysians will be able to begin transacting online without a debit or credit card,” Praveen said.

DiGi said vcash makes online and offline transactions as easy as possible for users, who simply need to download the app on their mobile devices from the Google Play Store or Apple App store for free, set up and deposit money into their account, and scan the QR code at the merchant’s check out point to make payment.

Transactions are completed with PIN or fingerprint authorisation. To deposit money into the vcash app, users can either walk into a DiGi store to deposit cash over the counter, or carry out online banking via FPX or JomPAY.

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