KUALA LUMPUR: Partnering Global Payments Card Processing Malaysia Sdn Bhd (Global Payments Malaysia), GHL Systems Bhd has launched its payment facilitator (PF) and payment service provider (PSP) initiative in Malaysia, with an initial target to acquire 3,000 to 4,000 merchants this year.
Payment solutions provider GHL Systems (fundamental: 1.40; valuation: 0.30) said in an announcement with Bursa Malaysia yesterday that its wholly-owned subsidiaries GHL Cardpay Sdn Bhd and GHL Epayments Sdn Bhd have each entered into an agreement with Global Payments Malaysia, whereby they will act as PF and PSP for the latter.
Under the agreements, GHL Systems will provide services on behalf of Global Payments Malaysia, including to acquire eligible new merchants by providing sales, marketing and on-boarding services.
Additionally, GHL Systems will facilitate transactions and settlement of funds between Global Payments Malaysia and the new merchants.
“This deal paves the way for the GHL group to enter the small merchant segment,” said its chief executive officer Raj Lorenz in a statement.
This article first appeared in The Edge Financial Daily, on January 28, 2015.