KUALA LUMPUR, Malaysia -- More than 95 percent of Malaysia's 3,839 automated ATMs have been fully upgraded to chip-based technology, according to a report in the Bernama news service.
The Malaysian Electronic Payment System Sdn Bhd (MEPS) said that 12 financial institutions have upgraded their ATMs' hardware, software and host systems.
(See related story Asia-Pac is leading EMV adoption)
"It was one of the key milestones achieved in the implementation of the Payment Multipurpose Card (PMPC/Bankcard) project," said MEPS' managing director, Datuk Mohd Hata Robani, "The local financial institutions have been aggressively upgrading their ATMs in the last quarter of 2002, in line with their move to issue Bankcard to their customers for total chip-based ATM transactions."
In addition, all ATMs nationwide will be upgraded in 2003 to allow e-purse loading. The Bankcard offers electronic cash payments using either e-debit at the point-of-sale or e-purse, which is a stored monetary value payment. ATMs will be used to reload value onto the cards.
