MobilityOne Limited MasterCard licensing and SWIFT membership approval
2021年5月21日 - 7:30PM
RNSニュース (英語)
TIDMMBO
MobilityOne Limited
21 May 2021
REACH: non-regulatory announcement
21 May 2021
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
MasterCard licensing and SWIFT membership approval
MobilityOne (AIM: MBO), the e-commerce infrastructure payment
solutions and platform provider, announces that its wholly-owned
subsidiary in Malaysia, MobilityOne Sdn Bhd ("MobilityOne
Malaysia"), has received a license from MasterCard Asia/Pacific Pte
Ltd ("MasterCard") for MobilityOne Malaysia to issue MasterCard
prepaid cards in Malaysia. In addition, the Society for Worldwide
Interbank Financial Telecommunication (" SWIFT " ), the world's
leading provider of secure financial messaging services, has
permitted MobilityOne Malaysia to join its network.
MasterCard - The cardholder of the MasterCard prepaid card has
to deposit or reload cash value to the prepaid card which then can
be used to make payment wherever MasterCard is accepted at physical
retail outlets, online e-commerce stores as well as to access to
ATMs worldwide to withdraw cash. The target market for the
MasterCard prepaid card will be the foreign workers in Malaysia as
well as the unbanked or those that are unable to obtain credit
cards due to their financial standing. The MasterCard prepaid card
can also be used as a salary card whereby the worker's salary can
be deposited into the MasterCard, thus eliminating cash payment to
workers who do not have bank accounts. The MasterCard prepaid card
will complement the Group's existing e-wallet and will be part of
the Group's end-to-end payment ecosystem.
The Group will generate revenue from the sale of prepaid cards,
the percentage of commissions for the transactions via the prepaid
cards and from potential e-wallet white label hosting
arrangements.
SWIFT - The Group currently has an agreement in place with
MoneyGram which caters mainly for the smaller amount of money
transfers, typically for consumer to consumer (C2C). With SWIFT's
platform, the Group is expected to be able to expand its business
to larger amount of money transfers for business to business (B2B)
due to SWIFT's global financial network which connects financial
institutions and large corporations.
Revenue will be generated from transaction fees and foreign
exchange markup for each transaction.
The Directors do not anticipate any significant revenue or
earnings contribution from the above in the current financial year
as transactions with MasterCard and SWIFT are expected to commence
in the 4(th) quarter of this year after receiving relevant
approvals from the Central Bank of Malaysia. However, the Directors
expect that these developments with Mastercard and SWIFT to offer
the Group's products and services, which are in the ordinary course
of business of the Group, will contribute positively to the Group's
overall growth prospects in the long term.
-ends
For further information, contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
har@mobilityone.com.my
Allenby Capital Limited (Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas
About Reach announcements
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About MasterCard
MasterCard Asia/Pacific Pte Ltd is incorporated in Singapore and
is a subsidiary of MasterCard Incorporated, which is an American
multinational financial services corporation. Throughout the world,
its principal business is to process payments between the banks of
merchants and the card-issuing banks or credit unions of the
purchasers who use the "MasterCard" brand debit, credit and prepaid
cards to make purchases.
For more information, please refer to
https://www.mastercard.com.my/en-my/businesses.html
About SWIFT
SWIFT is a global member-owned corporative and the world's
leading provider of secure financial messaging services. It
provides a network that enables financial institutions worldwide to
send and receive information about financial transactions in a
secure, standardised and reliable environment.
For more information, please refer to https://www.swift.com/
About MobilityOne Group:
MobilityOne provides e-commerce infrastructure payment solutions
and platforms through its proprietary technology solutions. The
Group has developed an end-to-end e-commerce solution which
connects various service providers across several industries such
as banking, telecommunication and transportation through multiple
distribution devices including EDC terminals, mobile devices,
automated teller machines (ATM) and internet banking. The Group's
technology platform is flexible, scalable and designed to
facilitate cash, debit card and credit card transactions from
multiple devices while controlling and monitoring the distribution
of different products and services.
For more information, refer to our website at
www.mobilityone.com.my/
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May 21, 2021 06:30 ET (10:30 GMT)
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