KUALA LUMPUR: Regional payment service provider GHL Systems Bhd is buying local rival Paysys (M) Sdn Bhd for RM80mil in cash and new shares, as the company seeks to boost its market share in the business.

“The proposed acquisition is expected to provide an opportunity to GHL and its subsidiaries to solidify their presence as a payment solutions provider in Malaysia,’ it said in a filing with Bursa Malaysia today.