MyClear, MEPS urged to join forces to achieve greater payment efficiency

KUALA LUMPUR: Bank Negara has called for collaboration between the Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) and Malaysian Electronic Payment System (MEPS) to explore ways to achieve greater payment efficiency.

Deputy governor Datuk Muhammad Ibrahim said a successful payment system was often dependent on the network of payment systems reaching an optimum size, thus enabling its participants to build critical mass and achieve economies of scale.