Korvac Implements Payment Backbone for Malaysian e-Government Initiatives
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SINGAPORE -- Singapore-based Korvac International Systems has integrated its Korvac Payment Gateway (KPG) into the backbone of the Malaysian government's e-payment systems.
The payment gateway operates as the secure technical infrastructure that is integrated into payment systems implemented by Konsortium Multimedia Swasta Sdn. Bhd. (KOMMS), a consortium of companies tasked with implementing various e-government projects for Malaysia. The country's e-government vision aims to speed up the growth of its much-publicized Multimedia Super Corridor (MSC).
Said Jeremy Tan, chief executive officer of Korvac International Systems, "The Korvac Payment Gateway works as a payment switch; it capitalizes on existing credit card settlement infrastructure, namely the (ISO-8583) protocol, which has been in use for over 30 years. The complementary use of new and existing technology results in a robust system that is easy to implement."
Korvac integrated its KPG into KOMMS payment systems to enable the payment of utility bills and summons by credit cards through kiosks and on the Internet, the company said in a statement.
The KPG system is able to handle major credit cards - Visa, MasterCard, American Express, Diners and JCB. It also accepts multiple currencies and is bank independent, giving merchants the freedom to switch or to remain with existing financial providers.
Added KOMMS project director Teh Chee Hoe, "Korvac's payment gateway was chosen for this project due to its ease in implementation and its potential for further enhancements. There are plans for expansion of this current system to include direct-debit card payments.
"In addition, other avenues such as transactions through short message service (SMS), wireless application protocol (WAP), and interactive voice recognition (IVR), are being considered. One advantage of the KPG is its capability to support all these channels."