MEPS to install 1,580 ATMs nationwide
KUALA LUMPUR: Malaysian Electronic Payment System Sdn Bhd (MEPS) has allocated RM60 million in capital expenditure to install 1,580 automated teller machines (ATMs) nationwide in next five years.
"We already have 134 ATMs across Peninsular Malaysia and we're going to launch another 66 machines ... We will have a total of 200 operating machines by the end of the year," said its group managing director Zulkanain Kassim during the launch of Malaysia's first non-bank ATM, here, yesterday.
The launch was officiated by Bank Negara Malaysia deputy governor Datuk Muhammad Ibrahim.
MEPS is targeting to install 360 machines a year within the timeline and will venture into Sabah and Sarawak in the third quarter of next year.
"We currently have 15 banks linking to our services but the plan is to have all banks operating locally to have links with us," said Zulkanain, noting that he is in talks with more banks to join in.
Zulkanain also said MEPS expects to launch the dynamic currency conversion service for foreign cardholders also in the third quarter of next year.
"This service will enable tourists to withdraw money from their currency into ours, with limited fees imposed. It could also be used for cross-border remittance," he said.
Malayan Banking Bhd deputy president and head of community financial services Datuk Lim Hong Tat, who is also a member of MEPS strategic and business committee, said it is more cost-effective for financial institutions to have links with MEPS than stand-alone ATMs.
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