GHL payment system for banks, telcos

GHL Systems Bhd, a leading payment services enabler, is offering bankers and telecommunications companies its newly-launched adaptive secure payment architecture (ASPA), an end-to-end payment system that is flexible and failure-resilient. 

Deputy managing director Yeng Fook Hoo said during the launch in Kuala Lumpur yesterday the company was confident that the system would be the ultimate solution to prevent credit card fraud in Malaysia. 

He said Malaysia had one of the highest credit card fraud incidences in the world together with Taiwan. 

Yeng said Taiwanese banks had used this system and found it very effective. “Currently, 40% of our sales comes from overseas, especially Taiwan. New interest is coming from countries such as Thailand, Indonesia, the Philippines and Hong Kong,” he said. 

He said there were also queries from the United States, Latin America and the Caribbean on the ASPA payment system. 

On the prospects of the system, Yeng said many banking institutions which had invested millions in inferior payment infrastructures only to realise later that those systems could not adapt to the changes in technology. 

He said ASPA had the capacity to support the banking industry in making “Tomorrow’s Technology for Today’s Banks.” ASPA consists of three systems - NetAccess, the multifunction and multi-channel networking product; NetMatrix, the security and active transaction solution platform and N3Net, the host that manages the network. 

GHL’s clients include local and foreign banks. It has partners in three major telecommunication companies and two retail petroleum players on various payment acceptance services and solutions in physical and virtual environments. – Bernama 

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