MPay Mastercard prepaid card sees up to RM40m total ARPU
Published on: Saturday, July 30, 2016
Kuala Lumpur: Managepay Systems Bhd (MPay) expects its newly-launched "MPay Mastercard Prepaid Card" to reap between RM30 million and RM40 million in the total amount of average revenue per user (ARPU) in the first year of operation. Managing Director/Chief Executive Director Chew Chee Seng said the financial technology company is also aiming for 100,000 subscribers in the first year, targeting the business community as well as mass market for a start."We will work on projects with the Malaysia Retail Chain Association (MRCA) and Malaysian Association of Tour & Travel Agents for a start.
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"If a subscriber has around RM300 to RM500 in the card, the money float will be millions," he told reporters after launching the MPay Mastercard Prepaid Card here Friday.The card enable purchase transactions, bill payments, telco prepaid reloads and domestic remittance services, among others.Asked of future growth expectations, Chew said MPay was looking at a 100 per cent growth in the first two years, as the new market was loaded with opportunities."We will undertake a lot of programmes in the future to attract subscribers and look to recruit 500,000 subscribers in the first few years," he added.
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Meanwhile, MPay's partner, Mastercard Asia/Pacific Pte Ltd Country Manager for Malaysia and Brunei, Perry Ong said the prepaid card system would add to the payment instruments that it had in the market."The launch of the card is timely, as Malaysia looks to accelerate the migration to electronics payment, moving away from cash and cheques.
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"It will bring to a wider use, applications and innovation, in moving towards a cashless society," he said.Stay up-to-date by following Daily Express’s Telegram channel.
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