Pertama Digital Berhad has officially launched its new KOCEK coin conversion service, which allows users to exchange their unused coins into digital cash value that will be deposited into their bank accounts (dubbed KOCEK IN). Rebranded from its original name, MyPay Coin Conversion, the service also enables merchants and traders to purchase coins for their business needs (KOCEK OUT).

To make the service more accessible to the public, Pertama Digital is collaborating with Pos Malaysia Berhad to make it available at four Pos Malaysia branches in Klang Valley. These include Pejabat Pos Besar Kuala Lumpur, Pejabat Pos Besar Shah Alam, Pejabat Pos Kajang 2020, and Pejabat Pos Bandar Baru Bangi. Outside of Pos Malaysia’s offices, KOCEK also has its own existing locations at major shopping centres, namely Subang Parade (Subang Jaya), Berjaya Times Square (Kuala Lumpur), and NSK Trade City (Kuchai Lama).

Going forward, Pertama Digital plans to further expand KOCEK to 30 other Pos Malaysia branches within the region by the end of 2023, and then to other states in stages in 2024. All in all, the company hopes to provide the service at a total of 100 locations.

Pertama Digital further said that KOCEK was developed with the aim of encouraging Malaysians to recirculate their unused coins, which are often kept at home in jars and drawers (also referred to as “dead coins”). It was found that up to 30% of coins issued every year are being left unused at home, which translates to more than 200 million pieces of coins each year. With KOCEK, these coins can be easily converted into digital cash, and it can also help to reduce the need to mint and distribute new coins. In turn, this lowers the cost of issuing currency for Bank Negara Malaysia.

“We are delighted to make our KOCEK product and service easily 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 sen counts, and KOCEK aims to generate additional income for everyone,” said the chairman of Pertama Digital, Datuk Ahmad Nazri Abdullah.

Meanwhile, the group chief executive of Pos Malaysia Berhad, Charles Brewer said that this partnership is timely as KOCEK’s purpose is in line with Pos Malaysia’s own objective to offer seamless solutions for the everyday needs of the community. “KOCEK represents more than mere convenience – it embodies Pos Malaysia’s values of constantly driving innovation and delighting our customers,” he said.

The KOCEK service is also available via Pertama Digital’s MyPay mobile app, which you can download from Google Play and the App Store.

(Sources: KOCEK, The Malaysian Reserve)

• TAGS:
• Charles Brewer
• Datuk Ahmad Nazri Abdullah
• KOCEK Coin Conversion Service
• KOCEK IN
• KOCEK OUT
• MyPay Coin Conversion
• Pertama Digital
• Pertama Digital Bhd
• Pos Malaysia
• Pos Malaysia Berhad