Eddid Financial and MPAY partner to expand into Malaysia

By Leandra Monteiro

Eddid Financial, a financial group focussed on FinTech, and ManagePay Systems Berhad, a Malaysian FinTech company, have signed an agreement to establish a joint venture, building on their earlier MoU announced earlier this year.

The strategic partnership aims to leverage both companies’ strengths in FinTech research and development, as well as expertise, to jointly expand the Malaysian financial market and create new opportunities within the Southeast Asian financial ecosystem.

As part of its commitment to overseas expansion, and increase the variety of financial products, the joint venture will apply for a Capital Market Services Licence (CMSL) from the Securities Commission Malaysia to provide capital market services in the country.

By combining the innovative FinTech solutions and system products of both companies, Eddid Financial aims to create a win-win situation with MPAY, driving growth and innovation in the region. The partnership will facilitate in-depth technical and business collaborations in FinTech R&D, allowing both parties to share resources and experiences.

MPAY, a listed company in Malaysia, is it a provider of end-to-end electronic payment solutions for banks and financial institutions. Over the years, it has expanded its offerings to include P2P lending, micro-lending, project financing, P2P Remittance, cross-border remittance, merchant acquiring, and e-Wallet & Mastercard prepaid card issuer in Malaysia.