Peter Schiesser, Group Chief Executive Officer, PayNet and Nurul Fatin Binti Mohd Zulkafli, Grand Prize Winner

KUALA LUMPUR, Jan 16 (Bernama) -- On 16 January 2019, Payments Network Malaysia Sdn Bhd (PayNet) held a prize giving ceremony for lucky winners of the recently concluded “FPX and Win!” contest which offered a total of RM400,000 in prizes, including two Honda Civics, as well as shopping vouchers worth a total of RM 50,000.  “FPX and Win!” ran from 1 August to 31 October 2018, and all bank customers who made payments using FPX during the contest period were eligible for a lucky draw.

The grand prize winners, Mohd Azwan Shah Bin Abdul and Nurul Fatin Binti Mohd Zulkafli obtained their winning entries by making payments using FPX at the Shopee mobile app and the Employee Provident Fund’s (EPF) e-Caruman website respectively. Nurul Fatin Binti Mohd Zulkafli said, “I always use FPX to pay for my online purchases, and now I won a Honda. What an amazing surprise!”

Speaking at the prize presentation ceremony, Mr Peter Schiesser, Group Chief Executive Officer of PayNet said “During the campaign, FPX’s transaction volume increased 149% compared to the corresponding period in 2017, recording over 26 million transactions between August and October 2018.” When paying with FPX, customers may draw funds from their saving accounts, current accounts or credit card accounts at the Internet Banking channels of 29 FPX participating banks.

The “FPX and Win!” contest also rewarded online merchants that promoted the use of FPX as a means of collecting payments from their customers.   Metro Parking Sdn Bhd and Hermo Creative Sdn Bhd (Hermo – one of the largest online retailers of beauty products in Southeast Asia) won the top awards with a cash prize of RM20,000 each. 

“For Hermo, FPX is the most cost effective and efficient means of collecting payments online. We receive sale proceeds in real-time, and FPX transaction fees are significantly lower than credit card merchant fees or MDRs. We pass on the cost savings from FPX’s low merchant fees to our customers so that our customers get the best value when they make purchases at www.hermo.my,” said Mr Ian Chua, Chief Executive Officer and co-founder of Hermo.

“We are pleased that more than 18,000 online merchants in Malaysia, including the top 10 e-commerce retailers and platforms, offer their customers the convenience of paying for their purchases using FPX.  FPX is clearly the preferred mode of payment for many online merchants,” added Mr Schiesser. 

About PayNet

Payments Network Malaysia Sdn Bhd is Malaysia's premier payments network and central infrastructure for financial markets.  We innovate, build and operate world-class payment systems and financial market infrastructures that safely, reliably and efficiently enable the functioning and development of Malaysia's financial system as well as the economy as a whole.  With Bank Negara Malaysia as PayNet's single largest shareholder and eleven major financial institutions as joint shareholders, PayNet also serves as a platform to harness the collaborative efforts of the Malaysian banking system to accelerate the adoption of electronic payments.  For more information, please visit www.paynet.my.
 

SOURCE: Payments Network Malaysia Sdn Bhd (PayNet) FOR MORE INFORMATION, PLEASE CONTACT:  Name: Ms Amy Pang Tel: +603 2264 8689 Email: amy@paynet.my --BERNAMA