Matrix Parking inks MoU with Managepay Systems, Netton

KUALA LUMPUR: Matrix Parking Solutions Holdings Bhd is exploring a collaboration with Managepay Systems Bhd and Netton Resources Sdn Bhd for the management of the cashless payment system at the Langkawi International Maritime and Aerospace (Lima) 2023 event.

It said in a filing with Bursa Malaysia, the parties also plan to form a joint venture to launch a mobile-based automobile-related financial technology app in Malaysia and to venture into new automobile businesses such as electric vehicle (EV) charging and an event organising ecosystem.

Under the terms of a memorandum of understanding (MoU) signed by the parties, MPay will design and develop a super app for the JV using its fintech building blocks.

Meanwhile, Matrix and Netton will provide all available current and future sites that are managed by Matrix for super app implementation and manage the operations upon successful deployment of the super app.

Matrix and Netton will also engage with suppliers to provide hardware and application programming interface to incorporate features such as an LPR system, EV charger, car park bay lock and booking system into the super app.