GEORGE TOWN, November 22 – Pertama Digital Berhad (“Pertama Digital” or “the Company”) has introduced the KOCEK Coin Conversion Service (KOCEK), enhancing its services in collaboration with Pos Malaysia Berhad (“Pos Malaysia”). This strategic partnership paves the way for KOCEK to offer its innovative coin conversion services at Pos Malaysia branches across Malaysia. Starting with four locations in the Klang Valley, the service is set to expand to approximately 30 branches by the end of 2023, with plans to reach 100 locations in 2024.
The launch event, graced by the Deputy Minister of Finance 1, YB Datuk Seri Ahmad Maslan, who delivered a speech on behalf of Prime Minister YAB Dato’ Seri Anwar Bin Ibrahim, signifies the significance of this collaboration in revolutionizing coin conversion, improving currency circulation, and providing convenience to the Rakyat. Pos Malaysia was represented by its Chairman, Y.Bhg. Tan Sri Syed Faisal Albar Syed A.R. Albar, and Group Chief Executive Officer, Mr. Charles Brewer. The KOCEK service, initiated by Pertama Digital, aims to encourage the recirculation of idle coins among Malaysians. Annually, a substantial number of coins issued by Bank Negara Malaysia (BNM) do not return for re-circulation, with an estimated 30% or more than 200 million coins ending up being stored at home, in jars, and drawers as “dead coins.”
KOCEK offers an accessible and swift service to help the Rakyat convert these idle coins into digital cash value, which is then transferred to their bank accounts. This initiative aims to reduce the need for minting and distributing new coins, thereby lowering the cost of issuing currency for the central bank. Formerly known as MyPay Coin Conversion, KOCEK provides a seamless solution for individuals to convert their unused coins into digital cash value in their bank accounts. In addition, merchants and traders can purchase coins for their business needs, addressing the concerns of both consumers and businesses while enhancing their spending power.
Pertama Digital’s Chairman, Y.Bhg. Datuk Ahmad Nazri Abdullah, expressed his satisfaction with the collaboration, stating, “We are delighted to make our KOCEK product and service readily available to the Rakyat through Pos Malaysia’s extensive network. With their presence in major towns and rural areas, KOCEK can reach more people rapidly and efficiently. In today’s economic environment, every cent counts, and KOCEK aims to generate additional income for everyone.” Charles Brewer, Group Chief Executive Officer of Pos Malaysia Berhad, added, We are delighted to join hands with KOCEK. Designed with paramount convenience in mind, KOCEK harmonizes seamlessly with Pos Malaysia’s ethos – we are passionate about building trust to connect lives and businesses for a better tomorrow.
The introduction of KOCEK service at Pos Malaysia branches is a true testament to our pledge to offer seamless solutions for the everyday needs of our community. Through this partnership, Pertama Digital will have access to Pos Malaysia branches nationwide, providing KOCEK coin conversion service (KOCEK IN) and coin purchase convenience (KOCEK OUT) for businesses and traders. The KOCEK service is available through the Company’s MyPay application, which enables seamless communication with selected government agencies. Pertama Digital plans to aggressively roll out the KOCEK service across Malaysia in the near future.
We are grateful to Pos Malaysia for this collaboration, and we believe it will be a win-win situation for all stakeholders involved. Our ultimate goal is to digitize and reach as many people as possible, and Pos Malaysia branches perfectly complement our efforts. With KOCEK, individuals can effortlessly convert their spare coins into enhanced spending power, concluded Datuk Ahmad Nazri. KOCEK is currently operational at three major locations in the Klang Valley, including Subang Parade, Berjaya Times Square, and NSK Trade City in Kuchai Lama, in addition to four Pos Malaysia branches, namely Pejabat Pos Besar Kuala Lumpur, Pejabat Pos Besar Shah Alam, Pejabat Pos Kajang 2020, and Pejabat Pos Bandar Baru Bangi.
