MPay Inks RM38mil Deal with Mastercard for Payment Card Development

Managepay Systems Bhd (MPay) has accepted a RM38mil letter of offer from Mastercard Asia/Pacific Pte Ltd to develop and operate ManagePay-issued Mastercard payment cards. The deal is expected to positively impact MPay's earnings and net assets per share from FY2026 onwards, but will not affect its issued share capital or shareholder ownership. A sign-on bonus and launch support will be provided to MPay's subsidiary, ManagePay Services Sdn Bhd.

PETALING JAYA: Managepay Systems Bhd (MPay) has accepted a letter of offer worth RM38 million from Mastercard Asia/Pacific Pte Ltd to develop and operate ManagePay-issued Mastercard payment cards. This strategic partnership is expected to positively impact MPay's earnings and net assets per share, beginning from the financial year ending June 30, 2026, and onwards [1].

The agreement, which will not affect MPay's issued share capital or shareholder ownership, includes a sign-on bonus and launch support for MPay's wholly-owned subsidiary, ManagePay Services Sdn Bhd (MPSB). Mastercard will also provide support for card issuance upon completion of the Application prototype and the launch of a Mastercard card [1].

This deal comes at a time when consumer-facing products and partnerships are becoming increasingly important in the financial technology sector. Gemini, a crypto exchange, recently overtook Coinbase in the US App Store finance rankings after launching a limited-edition XRP rewards credit card with Ripple Labs and Mastercard [2]. This move highlights how innovative consumer products can shift user adoption and market dynamics.

While MPay's focus is on traditional financial services, the success of Gemini's XRP rewards card demonstrates the potential of consumer-oriented innovations to alter the competitive landscape. By leveraging the Mastercard network, MPay can attract users and enhance its brand identity, potentially driving growth in the coming years.

The RM38 million deal is a significant milestone for MPay, positioning it to benefit from the growing demand for digital payment solutions. As the company continues to expand its offerings, investors can expect to see a positive impact on MPay's financial performance, particularly in the form of increased earnings and net assets per share.

References:
[1] https://www.thestar.com.my/business/business-news/2025/08/27/mpay-secures-mastercard-deal-worth-rm38mil
[2] https://www.cryptoninjas.net/news/gemini-overtakes-coinbase-on-us-app-store-after-xrp-rewards-card-launch-with-mastercard/