KUALA LUMPUR: Cuscapi Bhd has entered into a memorandum of understanding (MoU) with iPay88 (M) Sdn Bhd on a collaboration to offer competitive solutions to end-consumers in the food and beverage (F&B) industry.

In a bourse filing yesterday, the company said the MoU will enable Cuscapi to leverage on iPay88’s dominant position in the online and mobile payment space while exploring business opportunities and potential cross-selling of Cuscapi’s C360Engage — an intelligent cloud point-of-sales (PoS) system — to iPay88’s host of F&B customers.

Meanwhile, Cuscapi’s C360Engage platform will employ iPay88’s online and mobile payment solutions for a seamless and hassle-free transaction process.

The MoU will be in effect for an initial period of one year and may be renewed by mutual agreement between the parties.

“Whether it’s online, mobile or physical restaurants and cafes, the future of F&B business depends strongly on making authentic connections with customers and engaging with them on a personal level,” said Cuscapi group chief executive officer Anthony Gerald Victor in a statement.

“With this strategic partnership, customers need not stand in line and wait to pay for their purchases. They can pay cashless via e-wallet or various digital payment modes available on the C360Engage cloud PoS via iPay88 from anywhere in the premise,” he added.

Cuscapi’s share price closed unchanged at 16 sen yesterday, giving it a market capitalisation of RM137.48 million.