Electronic payments solution company ManagePay Systems Bhd has teamed up with Visa and Malayan Banking Bhd to roll out MPAY ECPOS service that enables users to accept credit and debit card payment on their mobile devices.

The launch of the service was officiated by Prime Minister Datuk Seri Najib Tun Razak at the small and medium enterprises exhibition SMIDEX 2012 yesterday.

“We hope to get 40,000 users by the end of this year,” ManagePay chief executive officer Chew Chee Seng said after the launch.

“The service will be convenient for small and medium enterprises and micro traders as the device is mobile and the cost is cheaper compared with conventional terminals,” he said.

He said users could choose to pay a monthly service fee of RM10 or RM30, which would be waived when a certain amount is hit. Merchant discount rate for the RM30 package will be lower than the RM10 package.