Microsoft teamed Malaysian company to launch a revolutionary e-payment solution

T-Melmax, an investee company of venture capital firm Malaysia Venture Capital Management (MAVCAP), and Microsoft, leader of computer software, founded by Bill Gates, have partnered to launch a new payment solution for small medium enterprises (SME). According to the developers their product increases productiveness and decrease expenses. 

The new product called MaxPaygate is based on MS Excel 2007. Excel is a standard program used for word-processing documents, presentations and spreadsheets that can be used for numerous applications on multiple platforms. According to Abdul Mushir Che Chik, CEO of T-Melmax they chose Excel since “most SMEs we talk to are familiar with Microsoft Windows and Excel, thus developing our e-payment solution on this industry-standard platform makes a lot of business sense to our customers.” 

MaxPaygate lets the employees to make all kinds of payments, including staff salary, statutory payments and supplier payments to the bank via the Internet. 

"What is remarkable about T-Melmax's MXL solution is that, by leveraging on the ISO Office Open XML standard, the solution has this ability to store and manage business data in documents, resulting in lower cost of automating business processes and, at the same time, enhancing global competitiveness of local SMEs," said Tyson Dowd, Microsoft Malaysia senor director, local software economy.

Source: Network World