By: TMR | June 21, 2018

MyEG Services Bhd’s Philippine unit, I-Pay MYEG Philippines Inc (IPMPI), has inked a Memorandum Of Understanding (MOU) with Cagayan Economic Zone Authority (CEZA) to register as a Financial Technology Solutions Business Enterprise (FTSBE) license applicant.

In a filing to Bursa Malaysia yesterday, MyEG noted the move allows IPMPI to act as a payment processor and payment gateway business enterprise for offshore transactions in the Philippines specifically within the Cagayan Special Economic Zone and Freeport.

CEZA is a government owned and/or controlled corporation established to manage and develop a self-sustaining, commercial, financial, investment and tourism/recreational center and freeport.