News

Banks offer members reciprocal access in Malaysia, Indonesia

July 12, 2004

MALAYSIA - Electronic Payment System Sdn Bhd (MEPS) has teamed up with PT Artajasa, its Indonesian counterpart, to provide cross-border automated teller machine facilities by mid-2005.

According to a report on TheStar.com, MEPS and Artajasa's member bank cardholders will be able to access ATM services in both Malaysia and Indonesia with the deal.

Speaking July 7 at the signing ceremony between MEPS and Bank Kerjasama Rakyat Malaysia Bhd for the latter's participation in MEPS' network in Kuala Lumpur, MEPS Managing Director Datuk Mohd Hatta Robbani said that MEPS and Artajasa had also recently signed a memorandum of understanding on promoting regional electronic payments.

Similarly, MEPS had been talking to Singapore's National Electronic Transfer System Pte Ltd and Processing Centre Co Ltd of Thailand for similar cross-border ATM links, targeted for operations in 2005, Robbani added.

Artajasa manages a network of about 4,000 ATM machines in Indonesia, and controls approximately 60 percent to 70 percent of Indonesia's interbank ATM switching services.

MEPS, formed in 1997, manages the shared network of 4,000 ATMs owned by 10 commercial banks and two Islamic banks, and also claims some 12 million Bankcard users. With Bank Rakyat in, it will have an additional 450,000 cardholders.

Bank Rakyat managing director Datuk Alim Ariffin said Bank Rakyat's ATM cardholders could now access MEPS ATMs in addition to the 116 Bank Rakyat ATMs nationwide.