MasterCard has entered into a five-year strategic collaboration with the Malaysia Retail Chain Association (MRCA) to bring latest payment technology to 310 retail chain operators and 20,000 outlets across Malaysia.
The collaboration was announced during the recently concluded MasterCard -MRCA Memorandum of Understanding (MoU) exchange of documents ceremony.
Under the partnership, MasterCard will share its knowledge and expertise in payment technology, with the retailers and merchants in MRCA’s network.
The collaboration will enable the implementation of new payment propositions that will allow merchants to realise the advantages of electronic payments.
MasterCard country manager for Malaysia and Brunei Perry Ong said: “We are pleased to embark on this collaboration with MRCA to offer simple, safe and smart e-payment propositions to help retailers and merchants grow and support them as they are increasingly going digital.
“These propositions are vital in providing a safe and secured infrastructure for payment transactions and also in helping them boost operational efficiencies.
“The collaboration allows us to continue building on our suite of electronic payments offerings as Malaysia moves away from cash and cheques.
"The roll out of contactless payment technology as part of this collaboration is also crucial in this effort and underscores the importance we place in encouraging greater adoption of e-payments among Malaysians.”