CHIP IN SDN. BHD. (“CHIP – Digital Finance Platform” or “CHIP”), a rapidly growing fintech startup focused on digitizing business processes for micro, small, and medium enterprises (MSME) in Malaysia, is proud to announce that it has been officially registered by Bank Negara Malaysia (BNM) as a Non-Bank Merchant Acquirer.
This milestone marks a significant achievement in the company’s journey to enhance and secure payment solutions for MSMEs across Malaysia.
With this registration, CHIP reinforces its commitment to delivering secure, reliable, and innovative payment solutions tailored to meet the evolving needs of businesses. The registration by BNM underscores the company’s adherence to stringent regulatory standards and its dedication to fostering a robust financial ecosystem.
Since its incorporation in March 2022, CHIP has been at the forefront of digital finance innovation, offering comprehensive solutions, including payment processing, expense management, and compliance tools.
Despite being a newcomer to the fintech landscape, CHIP has quickly established itself as a trusted partner for over 2,000 MSMEs, processing nearly RM 1 billion in transactions in less than three years.
In addition to this registration, CHIP has achieved ISO/IEC 27017:2015 & ISO/IEC 27001:2022 certifications, PCI-DSS Level 1 Certification, and other industry accolades. Notably, CHIP was a winner of PayNet’s Fintech E- Payment Accelerator Program 2022 and received the Rising SME, FinTech Solution Provider award at the SEBA Awards 2022.
“We are thrilled and honoured to be registered by Bank Negara Malaysia,” said Zakwan Sharif, Chief Executive Officer at CHIP. “This registration not only validates our commitment to excellence and security but also propels us forward in our mission to empower MSMEs with cutting-edge financial solutions. We extend our heartfelt gratitude to our dedicated team for their unwavering efforts.”
As CHIP continues to innovate and grow, the company remains dedicated to its vision of revolutionizing the digital finance landscape.
Beyond payment and expense management solutions, CHIP is set to expand its product suite to include e-invoicing and Know Your Business (KYB) platform solutions, further enhancing operational efficiency and financial management for MSME.
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