Bank Negara Malaysia E Money License

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Bank negara malaysia e money license. As malaysia s central bank bank negara malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the malaysian economy. Jalan dato onn 50480 kuala lumpur malaysia. These documents are formulated in accordance with the provisions of the anti money laundering anti terrorism financing and proceeds of. Assuming it gets the e money license mymy will apply for a full virtual banking license in 2021.

Contact info bank negara malaysia p o. As malaysia s central bank bank negara malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the malaysian economy. The display will be optimised according to your screen size. Numerous local firms sit alongside us giants paypal and google payment and chinese mobile payment behemoths alipay and wechat pay on the central bank s register of non bank e money issuers.

Bank negara malaysia today said licensed money changers across the country have adequate supply of currencies to meet public demand. Grabpay managing director jason thompson said. Only e wallet providers who issue e money which can be used with multiple merchants technically known as open loop will require an e money license from the bank negara malaysia. According to bank negara s statement consumers can continue to obtain and exchange foreign currencies at licensed money changers across the country.

The company holds an e money license with bank negara malaysia bnm and has teamed up with mastercard to a pre paid payments card that s linked to the e wallet. E money is like our money either in the form of coins or notes. Jalan dato onn 50480 kuala lumpur malaysia. It appears as a digital number inside an e wallet.

The e wallet enables employers to digitise wage payments for the migrant workers which reduces the cost and risk of cash handling. Kuala lumpur jan 30. Grab malaysia and south east asia s leading e hailing service has received e money licence for payments services from bank negara. 1300 88 5465 bnmtelelink 603 2698 8044 general line bnmtelelink bnm gov my.

Latest list of licensed money changers in malaysia under bank negara march 19 2020 by team currenseek comments are off. That will allow it to operate an e wallet and negotiate a debit card from visa or mastercard. As of january 2019 there are 39 non bank providers authorised to issue e money in malaysia as well as five banks.