U Mobile to launch eWallet GoPayz and digital payment solutions GoBiz in July

  • TECH
  • Monday, 17 Jun 2019

Lee (centre) with members from the U Mobile team.

U Mobile is set to launch GoPayz and GoBiz, two digital financial service platforms in July in a bid to build a comprehensive fintech ecosystem for users in Malaysia. 

The company is touting GoPayz as a universal eWallet application offering both digital financial and lifestyle services to everyday consumers. Users can use GoPayz to access services like purchasing life insurance, perform currency exchange and invest in unit trusts. 

U Mobile chief marketing officer Jasmine Lee explained that GoPayz is designed to give users access to more online conveniences. 

“With GoPayz, users can purchase foreign currency through the app, then receive the currency in physical form via a courier service in three hours. We hope to help customers avoid the hassle of lining up for certain products and services,” she explained during a media briefing in Kuala Lumpur. 

She added that U Mobile is working closely with some retailers and businesses to offer exclusive products like life insurance schemes on GoPayz. 

Other uses for GoPayz include bill payments, mobile data top up purchases and paying for shopping transactions. 

Lee explained that GoPayz users can even make payments outside of Malaysia through its accepted MasterCard, Visa and Union Pay payment schemes. Users can also apply for an optional physical debit card with GoPayz. 

“We did our research and found that most consumers want an eWallet that can be used both locally and while overseas. Currently, most available eWallets are retail-based proprietary wallets with limited merchant acceptance and can be used in Malaysia only,” she said. 

Meanwhile GoBiz is aimed at businesses looking for digital payment acceptance solutions such as mPOS (mobile point of sale), MVT (mobile virtual terminal) and e-commerce payment gateway. The company claims that businesses can apply to use the GoBiz service and get approved within three working days. 

Lee said both GoPayz and GoBiz are services that are separate from U Mobile's telco business, as both services are not exclusive to U Mobile customers. Existing U Mobile customers who want to use GoPayz have to download and register for a new user account on the app.  

GoPayz and GoBiz mobile applications will be available on the Apple App Store and Google Play in July.

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