iPay88 secures over 60% Market Share in Malaysia

iPay88 Sdn Bhd, a leading online payment gateway brand in Malaysia, announced that it has secured over 60 per cent of all online payment gateway systems in the market being used by eRetailers, SMEs and Corporations for online transactional operations.


According to Chan Kok Long, co-Founder and Executive Director of iPay88, the company today has close to 8,000 customers using its proprietary online payment gateway system, which was developed and improved since 2006. 

He says, “Today, after a consistent year-on-year customer base growth of about 25% over the last three boom years of eCommerce in this country, we can safely claim that iPay88 is the clear market leader and No.1 trusted choice that any business would look to partner with for all online payment gateway and digital transactional system.”

iPay88’s existing customers range from large conglomerates, to GLCs to SMEs and SOHOs; and include entity brands such as Genting Resort World, Syarikat Air Negeri Sem-bilan (SAINS), Perbadanan Kemajuan Negeri Selangor (PKNS), The Star Publication, Bo-nuslink, Jobstreet.com, Tokio Marine, TuneTalk.com, Digi and more.

Some of the new regional customers that iPay88 has acquired over the last quarter include China-based Xiamen Airlines, KTM (Keretapi Tanah Melayu), Hilton Hotel, Padini and Tune Money.

Meanwhile Chan also shares that iPay88 has a strong foothold in the eMarketplace with many famous B2C eMarketplaces with operations in Malaysia.

Chan says, “We are very fortunate to have the trust of many of the big name players like Lazada, Rakuten, as well as the newly launched 11street by Celcom-SK Planet and Logon by SinChew, to adopt iPay88’s online payment system for their bread and butter operations which is in eCommerce.”

iPay88 also said it has very strong customer base in the SEA regional market especially in Philippines and Indonesia, as they have been actively acquiring customers in those markets since its inception in 2006.

In Indonesia, seven Indonesian banks including Bank Central Asia (BCA), Bank Mandiri, Bank CIMB Niaga, Bank Internasional Indonesia (BII), Bank Danamon and Bank Muamalat Indonesia – have integrated iPay88 as part of their online banking facilities.

Meanwhile in the Philippines, iPay88 has four of the country’s largest conglomerates as its customers, being SM Investments Corporation, Ayala Corporation, Bank of the Philippine Is-lands and Ramcar Group of Companies.

Moving ahead, iPay88 has in plans to aggressively introduce new digital payment solutions which Chan believes will ‘revolutionize’ the market.

“For example, we are seeing that the insurance sector is very fond of Email Payment or ‘Request for Payment’; while mPOS (Mobile Point-of-Sale) that is the leverage of smartphones as a payment device will totally revolutionize the playing field of sales and services agent-centric businesses such as multi-level marketing and F&B outlets.

For the year 2015, Chan expects to achieve a higher level of growth at 50% due to the strong general market move towards eCommerce adoption.

“With an unwavering focus on Product Development and building a strong trusted network with Financial Service Providers such as banks, iPay88 is at an important crossroad which may see strategic partnerships to expand its brand exponentially across the regional market,” he ends.

iPay88 secures over 60% Market Share in Malaysia 1
iPay88 secures over 60% Market Share in Malaysia 2
iPay88 secures over 60% Market Share in Malaysia 3
iPay88 secures over 60% Market Share in Malaysia 4
iPay88 secures over 60% Market Share in Malaysia 5

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