Myclear

MyClear- Malaysian Electronic Clearing Corporation Sdn.Bhd

1.0 INTRODUCTION

Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear) which was incorporated in October 2008 offers a full-suite of e - payment solutions catering to different financial needs and different sets of customers. MyClear’s services consist of large value payment and retail e-payment solutions that allow corporations and individuals to make payments and transfer funds effortlessly and safely.  With the broad offerings of services and expertise in e-payment, MyClear is poised to spearhead the development of e-payment in Malaysia, both in terms of infrastructure and promotions. MyClear is a wholly-owned subsidiary of Central Bank of Malaysia.

The vision of MyClear is to be the regional leader for e – payment infrastructure and services. Meanwhile, the mission of MyClear is to spearhead migration to electronic payments through the development of e – payment instruments, services and standards with the provision of secure, reliable and efficient e – payment infrastructure and services.

The large value payment services offered by MyClear are Real Time Electronic Transfer of Funds and Securities (RENTAS), National Electronic Cheque Clearing System (e-SPICK) and Securities Services. The retail e-payment services offered by MyClear are e-Debit, Direct Debit, Interbank GIRO, FPX and Mobile Business.

MyClear has a seven-member Board of Directors comprising of representatives from Central Bank of Malaysia and the private sector. The Board of Directors is primarily responsible for the governance and management of the business as well as to ensure the financial health of the Company. Y. Bhg. Dato’ Ooi Sang Kuang was appointed as the Chairman of MyClear on 2 January 2009. He is the Special Advisor of Central Bank of Malaysia. Among others, the responsibilities of the Board are as follows:-

* Formulate and establish the broad policies governing the operations of MyClear

* Establish the...