GHL Systems e-debit bank card transactions surge 645%

GHL Systems Bhd said its merchants charted a whopping 645% growth in terms of value of e-debit bank card transactions last year. 

These merchants were currently ringing up some RM1mil in e-debit bank card transaction value per month, managing director Tay Beng Lock said in a statement.  

“The growth rate is phenomenal. For last year, we saw the transaction value growing at an average rate of 20% per month,” he said. 

Tay projects the exponential trend to continue for the next few years, in view of the more frequent transactions recorded per merchant as consumers see the convenience of using their bank cards, as well as the ever increasing number of merchants renting electronics draft capture (EDC) terminals from the company. 

Tay Beng Lock

To date, GHL Systems has about 2,000 merchants nationwide, compared with 600 as at end-2003. 

GHL Systems’ e-debit bank card merchant acquiring business is undertaken by its subsidiary, Card Pay Sdn Bhd, a company approved to be a non-bank third-party merchant acquirer for Malaysian Electronic Payment System (MEPS) in the MEPS Cash and Bank Card e-Debit programmes. 

Since Card Pay started its operations in the first quarter of 2003, the company has been aggressively promoting e-debit bank card facility to retail merchants and consumers. 

Today, merchants include Magnum 4D outlets, Systematic College, car accessory and electrical appliances shops. 

GHL Systems is a leading payment services enabler that rents EDC terminals to small- and medium-sized retail merchants for debit or credit card transactions, in addition to supplying EuroPay-MasterCard-Visa standard payment solutions to leading banks in Malaysia. – Bernama 

 GHLSYS :  [Stock Watch]  [News]

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Next In Business News

Tropicana sells 1.85 million Top Glove shares at a loss
CPO futures likely to trend higher next week
Asian LNG spot prices rise as China replenishes inventories
US stops short of branding Vietnam, Switzerland, Taiwan currency manipulators
Oil price down but secures weekly gain on recovery hopes
GLOBAL MARKETS-World stocks at new peaks on strong China, US data
Food for thought
Food inflation will continue to rise if efficiency is not addressed
Short position - AmBanks' placement, virtual AGMs, glove stocks
The question of MoUs materialising

Stories You'll Enjoy