According to MOLPay, cited by online media outlet bernama.com, the collaboration will encourage and enable adoption of online payments by companies which are selling products or services online.
MOLPay has revealed plans to establish and maintain all online data processing capabilities including merchant approvals and maintenance to support payment transaction processing. MOLPay will also implement a risk management system that are capable of detecting, managing and reporting the incidences of fraudulence transactions and unwarranted chargebacks that merchants deal on a daily basis.
MOLPay which was formerly known as NBePay was founded in 2005 and has been acquired by the MOL Global Group in August 2011. MOLPay currently has more than 2,500 online merchants and is compliant with global security standards.
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