KUALA LUMPUR (April 28): GHL Systems Bhd has launched its Bluetooth-enabled mobile point of sales service (mPOS), dubbed AirPOS, for small and medium enterprises to accept cashless payments on smartphones or tablets.
In a statement today, GHL said the product is also designed for entrepreneurs, as well as service personnel who are constantly on the move.
“AirPOS allows businesses to accept payments via Credit and Debit Cards, and thus have access to 50 million local ATM cards in Malaysia, anywhere, anytime,” it said.
“AirPOS is also Malaysia’s First Chip & Pin mPOS to accept ATM cards for payment, known as MyDebit by Malaysian Electronic Clearing Corp Sdn Bhd (MyClear), a subsidiary of Bank Negara Malaysia,” GHL added.
By Jan 1, 2017, GHL said Chip & Pin will be mandatory for all Credit Card transactions in Malaysia, as mandated by Bank Negara. This will require all existing card acceptance devices (electronic data capture, EDC and mPOS’) in Malaysia, which do not support Pin entry, to be upgraded.
GHL said AirPOS is designed to comply with Bank Negara’s regulatory changes in respect of Chip & Pin, besides complying with the expected upgrade in domestic debit card systems to Europay's, MasterCard's and Visa(EMV)'s standards.
According to the payment service provider, AirPOS will be paired with the group’s propriety M3 Risk engine, a risk management solution to mitigate fraud, brand, credit, and anti-money laundering (AML) risks.
“With AirPOS, GHL can on-board merchants much faster than anyone without the need [to] install the EDC terminal at a merchant’s premises, which is good news for merchants,” GHL chief executive officer Raj Lorenz said.
“AirPOS is one of the important pillars of GHL’s Mobile Payments Strategy and aims at positioning GHL towards providing a complete platform and ecosystem, on top of our existing offering for physical and internet payments,” GHL’s vice president of mobile payments, Kevin Lee, said.
GHL shares fell 1.5 sen or 1.68% to 88 sen today, giving it a market capitalisation of RM567.6 million.