PRODUCTS & SERVICES
MEPSCASH is the Malaysian e-Purse Scheme. MEPS Cash is the brand name for the National e-Purse available in your chip-based MyKad issued by the Government and ATM card from participating financial institutions.
As one of the seven Flagship applications under the Multimedia Super Corridor (MSC) initiative, the National e-purse was initiated in 1998 by participating financial institutions under the purview of Bank Negara Malaysia (BNM). It is regulated by the Payment System Act 2003.
MEPSCASH is currently about 20 million ATM Cards, and 18 million MyKad.
Today, there are more than 7,000 ATMs nationwide capable of loading e-cash into the e-purse.
What is MEPSCASH?
- MEPSCASH is electronic money in a card.
- By Using MEPSCASH there is no need for currency notes or coins.
- Payment in electronic money can be made in its exact purchase amount and there is no need to wait for change.
Use MEPSCASH with ATM Card
Just look for the [*] or [*] logo on your ATM card* and you can store cash value in your e-Purse to make off-line cashless payments. An e-Purse payment transaction is very fast and convenient because there is no signature authorisation or a Personal Identification Number (PIN).
It is easy to store or reload the cash value in your e-Purse at more than 5000 ATMs nationwide.
With MEPSCASH, there is no need to carry a large volume of cash or even coins ~ just electronic money in your ATM card!
* The logo represents the ATM and MEPS Cash functionalities.
The e-Purse is available in the ATM Cards of the following Banks:
More info at www.mymepscash.com
Top Up at ATM
The MEPSCASH in your MyKad ** or Bankcard can be topped up at any of the local bank’s ATM nationwide displaying the [*] logo.
Using the ATM, the electronic money you top-up into the purse can be deducted from either your savings or current account.
The authorized amount for each top up transaction is subject to the following terms and conditions:
- Minimum reload amount is RM 10.00
- Maximum Balance is RM2,000
- Maximum top up amount is limited to the maximum allowable balance on the card.
* For MyKad cardholder, you must contact your respective bank before performing any top up.
* Your MyKad also must have the ATM application.
- Melaka Kad is a payment card co-issued by Melaka Sate Government as a payment method alternative to cash
- Melaka Kad act as a prepaid card where it has to be topped up before any payment is being made
- Acceptance of Melaka Kad as payment method will be enabled for both physical & Internet payments
- State-wide effort towards a cashless society
- Melaka Kad uses a smart chip platform similar to existing cards such as MyKad, ATM, debit & credit cards
- Therefore, it is safe and secure to use
- Unlike existing prepaid or cash cards in the country, Melaka Kad is different as it allows the value of the card to be refunded
- Melaka Kad has both contact & contactless functions (“combi card”)
- Melaka Kad is an initiative by K-Economy Division, Melaka Chief Minister’s Department
Cashless Society
- The use of electronic payment in a society will increase the efficiency of cash management & security to the public in general & businesses specifically
- With efficient cash management, it will translate into cost savings in the long term for businesses
- When usage of electronic payment is high, dependency on physical cash lessen
- Therefore, the reduction of physical cash circulating in the market can be achieved
- Hence, big savings for the country in-term of reduce cost for managing physical cash
- MEPSCASH can be used to pay online
- Internet payment is made more secure with the use of a USB smart card reader connected to the personal computer, for the system to deduct e-money residing inside the chip.
- Pay using MEPSCASH online for more that 200 payee corporation at www.posonline.com.my
