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FINANCIAL TECHNOLOGY | Cesar Tordesillas, Malaysia

All Malaysian banks expected to offer mobile banking service by mid-2013

All Malaysian banks are expected to participate in mobile banking service by the  middle of next year, says e-payment service provider MyClear.


"Our objective is to get the entire industry to participate, in order to encourage usage of e-payment gradually," said Malaysian Electronic Clearing Corp Sdn Bhd (MyClear) Managing Director, Mohd Suhail Amar Suresh.

The company will officially launch the service by this September.

"Users can transfer money to anyone just by knowing his or her phone number," he said, adding that, the charges are expected to be equivalent to doing one short message service. The company's mobile banking service, namely MyMobile, allows bank customers to access their bank accounts via mobile phone.

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