Tricubes upbeat on e-payment terminals with EMV migration

  • Business
  • Friday, 01 Aug 2003

TRICUBES Computers Sdn Bhd sees tremendous growth potential of its electronic payments terminals in the local financial institutions' migration to Europay-MasterCard-Visa (EMV) smart credit cards.  

Bank Negara has given all financial institutions till the end of next year to mi- grate all credit cards to EMV standards.  

Khairun Zainal

Tricubes launched two new payment terminals, the Presto 210p and Allegro 100, in Kuala Lumpur on Wednesday. 

While the Presto 210p is a secure, af- fordable solution that combines EMV debit e-POS and MEPS cash on a single terminal, targeted at financial institutions, the Allegro 100 is an alternative cash payment for low-value transactions for small and medium-sized merchants.  

“We plan to roll out a substantial number of Allegro 100 terminals by the end of next year, starting with the Klang Valley,” Tricubes chief executive officer Khairun Zainal said.  

Research house Frost & Sullivan projected that the local payment terminal market would experience a compounded annual growth rate of 45% from 2002 to 2008.  

On a different note, Khairun said Tricubes subsidiary EPNCR Sdn Bhd had been appointed to assist Malaysian Electronic Payment Systems Sdn Bhd (MEPS) in acquiring and maintaining cash merchants under the MEPS cash microbank deployment programme.  

It is designed to rapidly populate the market with terminals that enables the use of MEPS cash on the national multifunction card, MyKad. 

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