Pertama Digital Berhad has unveiled its KOCEK Coin Conversion Service in collaboration with Pos Malaysia Berhad. This strategic partnership allows KOCEK to offer its innovative coin conversion services at Pos Malaysia branches across Malaysia.
Currently available at four locations in the Klang Valley, the service is set to expand to approximately 30 branches by the end of 2023. In 2024, the KOCEK services will be introduced in stages in other states, with plans to launch at 100 locations.
The launch event was attended by Datuk Seri Ahmad Maslan, deputy minister of finance 1, who delivered the speech on behalf of Dato’ Seri Anwar Bin Ibrahim, prime minister of Malaysia, and Abd. Rahman Bin Abu Bakar, assistant governor of Bank Negara Malaysia. Pos Malaysia was represented by its chairman, Tan Sri Syed Faisal Albar Syed A.R. Albar, and group CEO Charles Brewer.
KOCEK, previously known as MyPay Coin Conversion, was initiated by Pertama Digital to stimulate the recirculation of unused coins among Malaysians. Annually, a significant portion of coins issued by Bank Negara Malaysia (BNM) remains unused, with an estimated 30% or more than 200 million pieces ending up stored at home in jars and drawers as “dead coins.”
KOCEK provides an accessible and swift service, enabling individuals to convert their collection of unused coins into digital cash value, transferred directly to their bank accounts. This initiative reduces the need for minting and distributing new coins, consequently lowering the cost of issuing currency for the central bank.
The KOCEK service offers a seamless solution for individuals to exchange their unused coins into digital cash value in their bank accounts. Additionally, merchants and traders can purchase coins for their business requirements, addressing the needs of both consumers and businesses and enhancing their spending power.
Chairman of Pertama Digital, Datuk Ahmad Nazri Abdullah, said, “We are thrilled to make our KOCEK product and service easily accessible to the Rakyat through Pos Malaysia’s extensive network. In today’s economic environment, every sen counts, and KOCEK aims to generate additional income for everyone.”
Brewer added, “We are pleased to partner with KOCEK. Designed with paramount convenience in mind, KOCEK aligns seamlessly with Pos Malaysia’s mission. The introduction of KOCEK service at Pos Malaysia branches underscores our commitment to offering seamless solutions for the everyday needs of our community.
“KOCEK represents more than mere convenience—it embodies Pos Malaysia’s values of driving innovation and delighting our customers.”
Through this partnership, Pertama Digital will provide KOCEK coin conversion service (KOCEK IN) and coin purchase convenience (KOCEK OUT) for businesses and traders at Pos Malaysia branches nationwide.
The service is accessible through the Company’s MyPay application, facilitating seamless communication with selected government agencies. Pertama Digital plans to aggressively expand 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,” said Ahmad Nazri.
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, KOCEK is set to transform the way Malaysians handle spare coins.
