Boku Inc on Monday announced that its Malaysian entity, Boku Network Services MY, has received authorisation from Bank Negara Malaysia to operate as a non-bank merchant acquirer.

The approval follows continued investment by the company in the Malaysian market over many years, the mobile payment solution provider said. Boku MY’s authorisation will permit Malaysian merchants to access the wider Boku payments network covering over 200 payment methods around the world.

‘Malaysia is at the forefront of ’new generation’ payment methods, with a high degree of mobile wallet penetration and use,’ Boku said.

Boku Chief Executive Officer Jon Prideaux said: ‘With its vibrant fintech ecosystem, supportive regulatory environment, and high mobile and internet penetration, Malaysia is important in Boku’s global plans to transform the payment ecosystem towards the new generation of payments.’

Boku shares were down 0.3% at 145.00 pence each on Monday morning in London.

Copyright 2023 Alliance News Ltd. All Rights Reserved.