KUALA LUMPUR, July 21 (Bernama) -- Malaysia Digital Economy Corporation (MDEC), through its connections and initiatives, has been assisting GHL Systems Bhd to find suitable partners to grow.
In a statement today, MDEC said GHL had clearly set its sights on becoming the largest payment services provider in ASEAN.
"While GHL's core businesses include Shared Services and Solutions Services, its growth has been underpinned by its Transaction Payment Acquisition business.
"The TPA business enables GHL to directly contact merchants to provide credit card payment services (merchant acquiring) with an acquiring bank that will obtain authorisation for the credit card transactions," it said.
It said the shift in focus has transformed the company from a hardware reseller that earned non-recurrent revenue into a significant merchant acquirer, generating annuity revenue amounting to 94 per cent of its total group revenue.
"GHL recently expanded its TPA business by partnering Rizal Commercial Banking Corporation as the acquiring bank in the Philippines, which will help the company consolidate its position in the country," it added.
-- BERNAMA
In a statement today, MDEC said GHL had clearly set its sights on becoming the largest payment services provider in ASEAN.
"While GHL's core businesses include Shared Services and Solutions Services, its growth has been underpinned by its Transaction Payment Acquisition business.
"The TPA business enables GHL to directly contact merchants to provide credit card payment services (merchant acquiring) with an acquiring bank that will obtain authorisation for the credit card transactions," it said.
It said the shift in focus has transformed the company from a hardware reseller that earned non-recurrent revenue into a significant merchant acquirer, generating annuity revenue amounting to 94 per cent of its total group revenue.
"GHL recently expanded its TPA business by partnering Rizal Commercial Banking Corporation as the acquiring bank in the Philippines, which will help the company consolidate its position in the country," it added.
-- BERNAMA
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