KUALA LUMPUR--Automated Teller Machines (ATMs) in the country will be required to be "smart card-friendly" and accept the Government Multipurpose Card (GMPC) for transactional matters by 2003.
Energy, Telecommunications and Multimedia Minister Leo Moggie said all finanical institutions have been instructed to comply with this deadline, in an effort to introduce a single multipurpose smart card nationwide.
The government has envisioned the GMPC to spur the growth of a "cashless" society in which the encrypted electronic card could be used for payments at various outlets. The GMPC imbedded with payment capability is due to be launched by 2003, Moggie told reporters after launching the eBusiness Campaign 2001 conference on Tuesday.
In addition, Moggie said the multipurpose card is expected to be an alternative to the credit card for online transactions.
"The electronic cash applications, such as the multipurpose card which are embedded with chips or microprocessors, provide an alternative payment mode for Internet transactions," he added.