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iPay88: mCommerce becoming the driver for Mobile Digital Payment in Malaysia

iPay88 Sdn Bhd, one of the leading online payment gateway provider in South East Asia, shares its outlook of the mobile commerce (mCommerce) trend in Malaysia – emphasizing that this commercial trend will lead the ‘revolution’ and growth of digital payments adoption via mobile shopping.

Chan Kok Long, Executive Director of iPay88 says that mCommerce is the hot trend to watch now, judging from the ratio of iPay88’s mobile traffic with its total online payment transactions – which represents close to 70% of Malaysia market. 

“In year 2015, iPay88 recorded that 3.7 million online shoppers who made purchases through its systems used mobile devices. Compare this to Year 2014, whereby it was only 2.0 million. Meanwhile, as at first quarter of 2016, 1.6 million online shop-pers of iPay88 have purchased using mobile devices. Many of our merchants are also actively promoting mobile purchases in 2016 following the mCommerce waves,” says Chan.

Chan also shared that the growth of mobile commerce is clearly visible through the percentage of traffic from mobile channel recorded in its system, they are relatively: Year 2014 – 27.0%, Year 2015 – 38.4% and Q1 of Year 2016 – 48.6%.

As the number of mobile device users in the country increases, so will the mCom-merce trend, he said. The mobile penetration in Malaysia reached 136% in year 2015, with 47% of Malaysians using their smartphones to shop online.

Globally – Denmark, Norway, and Sweden are leading the mCommerce evolution with the fastest mobile growth. Emerging markets in India, Taiwan, and Malaysia are also leading the way for shopping growth on mobile device.

Chan adds, “No doubt that the availability of cheap smart phones and laptops have made the Internet accessible to a whole new demographic. The advent of tablets and smart watches has also broadened the spectrum of Internet usage.”

Set up in 2006 and headquartered in Kuala Lumpur, iPay88 is an NTT Data company. It has established its presence regionally in countries in Southeast Asia including Malaysia, Philippines, Indonesia, Thailand, Singapore and Vietnam.

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