Malaysia: Published Merchant Acquiring Services policy document containing cyber security requirements

On 15 September 2021, the policy document on merchant acquiring services is published by the Bank Negara of Malaysia. Merchant acquiring services enable payment between instruments and merchants, by ensuring that funds are transferred to merchants swiftly after users pay for goods using payment instruments such as credit cards and e-money. The document regulates merchants acquiring services by stating the minimum requirements for their service. Specifically, financial risks, fraud risks, settlement risks and cyber risks should be managed. The document shall now increase public trust in these services and make them safe.