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.
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