STRATEGIC PARTNERS
February 24, 2002
KUALA LUMPUR, Malaysia - Malaysian banking authorities expect to begin replacing six million ATM cards with a chip-based Payment Multi-Purpose Card (PMPC) next year.
The new cards will be used at car parks, toll booths, public phone booths, convenience stores, universities and technology parks, according to The Star Online.
Bank Negara plans to replace ATM cards with the PMPC card early next year, though users can choose to keep ATM cards instead.
Consumers may be charged for the PMPC. Datuk Mohd Hata Robani, managing director of e-commerce advisory group Malaysian Electronic Payment System, told the newspaper the cost is justified by the card's multiple features and applications.
