MalaysianUpdates

Tag: #FintechInnovation

  • OpenSys Technologies Launches Pilot Program for PalmWav™

    OpenSys Technologies Launches Pilot Program for PalmWav™

    OpenSys Technologies Sdn Bhd, a subsidiary of OpenSys (M) Bhd, has unveiled PalmWav™, a pioneering prototype that leverages palm-recognition technology to enable seamless, device-free payments in Malaysia. Designed to integrate with the country’s existing payment ecosystem, including PayNet’s MyDebit network, PalmWav™ allows users to complete transactions simply by waving their hand over a reader, complementing traditional payment methods such as smartphones, physical cards, and wallets.

    The prototype was first showcased internally to OpenSys employees and key partners, with Kom.Fi Café in Kuala Lumpur and Bread Maison in Petaling Jaya serving as the initial pilot locations for live demonstrations. Powered by Tencent Cloud’s AI technology, PalmWav™ creates a unique, encrypted “palm signature” for each user, enabling secure authentication within seconds while maintaining the highest standards of privacy. Enrollment is straightforward, with users registering through the PalmWav™ mobile app or performing a one-time setup at participating merchants. Once registered, payments are completed simply by scanning the palm above the PalmWav™ reader.

    PalmWav™ operates in a controlled production environment to demonstrate interoperability with Malaysia’s payment systems. For consumers, the technology offers fast, frictionless transactions, eliminates the need for devices, and ensures privacy through encrypted palm templates. Merchants benefit from shorter queues, hands-free transactions, integration with loyalty programs, and a scalable solution that can support millions of users across multiple payment schemes.

    Security remains a top priority, with PalmWav™ employing enterprise-grade cybersecurity measures including end-to-end encryption, payment tokenization, and real-time fraud monitoring. “PalmWav™ reflects our commitment to innovation and our drive to explore new technologies that could redefine how Malaysians experience digital payments,” said Denis Koay, Group Chief Commercial Officer of OpenSys Group. Co-CEO of OpenSys Technologies, Wong Siew Pooi, added that the collaboration with Tencent Cloud demonstrates a new, safer, and more intuitive way to make payments in Malaysia.

    Through this pilot, OpenSys Technologies aims to study the potential of palm-based payments across multiple sectors, reinforcing its commitment to research and innovation while supporting Malaysia’s evolving digital economy. The PalmWav™ initiative highlights how biometric technology can create a simpler, faster, and more seamless payment experience, marking a significant step toward the future of digital transactions in the country.

  • Pertama Digital Berhad – Announcement to Investors

    Pertama Digital Berhad (“Pertama Digital”) has provided an update to shareholders and investors following Bursa Malaysia’s notification that the Company’s counter will be suspended from trading starting 14 November 2025, pending a decision on its application for a four-month extension to submit its regularisation plan. The Board and Management emphasized that this extension request, filed on 31 October 2025 through Principal Adviser M&A Securities Sdn Bhd, is a proactive measure to ensure accuracy, compliance, and completeness in finalising the plan. Pertama Digital is in the final stages of completing due diligence, valuation, and validation for the proposed acquisitions of D-Ron Singapore Pte Ltd and D-Ron Malaysia Sdn Bhd, which form the cornerstone of its regularisation strategy.

    The Company highlighted that these acquisitions, which involve an 80% stake in each entity, are expected to expand core capabilities, enhance recurring income, and strengthen operational resilience, with a profit guarantee of RM32.4 million collectively for FY2025 and FY2026. Alongside these key acquisitions, Pertama Digital continues to drive digital initiatives such as e-Jamin, KOCEK Pintar, BizKecil, and Omnichannel Government Communications, furthering public-sector digitalisation, financial literacy, and cybersecurity adoption nationwide.

    Management reassured stakeholders that substantial progress has been achieved across all critical workstreams, including advisory and due diligence processes, and that the regularisation plan is on track to be submitted within the requested extension period. The Company also reinforced its commitment to strengthening governance, operational resilience, and long-term shareholder value. Both CEO Lim Nasrul Halim and Chairman Tun Dato’ Seri Zaki bin Tun Azmi highlighted that the fundamentals of Pertama Digital remain strong, grounded in providing secure, citizen-centric digital solutions, and that shareholders should take confidence in the tangible progress and ongoing initiatives driving sustainable growth. Pertama Digital will continue to provide timely updates to Bursa Malaysia regarding the completion of acquisitions, development of digital initiatives, and submission of its regularisation plan.