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Payments General

AmBank selects ECS Fin real-time payments app

Monday 12 March 2018 | 02:12 PM CET

AmBank will be going live using ECS Fin’s real-time payments application which includes modules for Credit Transfer, PayNow, National Addressing Database and Pay by Proxy.

Real-Time Retail e-Payments Platform (RPP) is a new payments platform introduced by PayNet (formerly known as MyClear) which offers both payment & collection services.

With instructions emanating from the central bank, all banks in Malaysia are to join RPP and offer payment services in three different groups. PayNet will build the RPP core infrastructure, gateway connectors and payment services in Phase 1 which will go live by June 2018, while collection services in Phase 2 are planned to go live by 2019.

ECS Fin is a US-based enterprise solutions provider founded in 1999 known for their try/buy offerings. ECSFin has offices across North America, South America, Middle East, and Asia-Pacific regions.

More: Link
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