Bank Negara Malaysia (the Bank) is issuing a concept paper on the Payment Card Reform Framework (the Framework) for public consultation. The Framework aims to foster an efficient, transparent and competitive payment card industry in Malaysia, in line with the Bank's statutory mandate under the Financial Services Act 2013 and the Islamic Financial Services Act 2013 and the recommendations outlined in the Bank's Financial Sector Blueprint.

The Framework seeks to ensure that any increase in the acceptance cost of payment cards is reasonable by establishing an objective and transparent mechanism for the reimbursement of fees among players in the payment card industry. Complementing the mechanism, the Framework, among others, also introduce measures to promote greater usage and acceptance of cost-effective payment cards through the use of correct price signals and empowerment of merchants.

Members of the public, industry players and other relevant stakeholders are invited to provide written comments on this concept paper. Please submit all written comments to the following address or email to [email protected] latest by 10 November 2014:

Pengarah
Jabatan Dasar Sistem Pembayaran
Bank Negara Malaysia
Jalan Dato' Onn
50480 Kuala Lumpur.

Attachment: Concept Paper - Payment Card Reform Framework