New Digital Payment From Digi, MPay & Mastercard
Digi Telecommunications has announced its partnership with ManagePay Systems Berhad (MPay) as well as Mastercard, to offer a new digital payment proposition for Malaysia’s rapid growing online lifestyle.
What is it all about?
The partnership is revolving around the development of a digital prepaid card. What’s a digital prepaid card you ask? To make things simple, it is basically a digital payment card and customers can manage it through a mobile app.
Mobile Wallet + Digital Card
This collaboration comes together due to the increased online spending by Malaysian customers. It means that customers are relying more on online payments which most of the time would require a credit card or debit card.
However, there are still a chunk of users who don’t own or use a credit/debit card. So what Digi has brought to the table is a solution where customers can sign-up, activate, and manage the card from the Mobile Wallet app without owning the physical card itself. Yes, you read that right, you literally own a digital card with 16-digit card number, expiry date and CVV, digitally.
Using the card is easy, as long as the merchant or online store is able to accept Mastercard, customer can use the prepaid card to make payment. We assume the basic 3D secure would be present due to the use of the currently available online payment infrastructure. We’re also hoping that payments via QR code scanning and in-app purchases would be made possible as well.
Cool, When can I have it?
Digi mentioned the new digital payment option will be made to the public in the first half of this year. At the time being, we still have no news regarding the actual implementation method. Nonetheless, Digi will definitely have a way to roll out this service to its current 11.8 million customers. As much as we hope it will work with Digi’s My Digi app, however, our guess is it will be a standalone Wallet app to entice more customers to come onboard.
What do you think?