MyClear launches Malaysia’s first Inter-bank Mobile Payment Service

Kuala Lumpur, 5 February 2013 – Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear), a wholly-owned subsidiary of Bank Negara Malaysia, has launched “MyMobile”, a mobile payment and banking service, after a successful pilot in 2012 which generated 350,000 transactions and 65,000 subscribers.

The three largest banks in Malaysia, Maybank, CIMB Bank and Public Bank, connected through all major telcos, Maxis, Celcom and DiGi, now offers mobile inter-bank funds transfer and a range of other banking services to their customers via MyMobile.

MyClear’s Managing Director, Mr Peter Schiesser, said that MyMobile is the only mobile-to-mobile payment service in Malaysia where one can transfer funds real-time to any mobile user for crediting to a bank account. “If you need to split a dinner bill, you can use MyMobile to transfer money instantly to your friend by simply specifying his mobile number. The money will be with your friend before you even leave the dinner table. It’s so easy!”

MyMobile is convenient to use as subscribers only need to dial *500*888# to access banking and payment services from multiple banks using any mobile phone. MyMobile is secure, yet easily accessible by everyone, anytime and anywhere.

“MyClear has built a nationwide MyMobile infrastructure that allows all banks in Malaysia to connect to all telcos without having to invest individually to link to one another. This minimizes duplication in infrastructure investments and helps keep costs low so that MyMobile services can be offered cost-effectively to consumers.

“In conjunction with the launch, MyMobile is free to use until 30 April 2013. During this period consumers will not be charged any banking or telecommunication fees for MyMobile services and transactions,” Mr Schiesser added.

Through the MyMobile service, subscribers can also make payments to the Kuala Lumpur City Hall (DBKL), Shah Alam City Council (MBSA), Subang Jaya Municipal Council (MPSJ), Klang Municipal Council (MPK), Ampang Jaya Municipal Council (MPAJ) and the National Higher Education Fund (PTPTN).

Bank customers can activate MyMobile through a simple registration process via,, as well at the ATMs and branches of participating banks. More banks are expected to participate very soon.