UnionPay International Accelerates Online Acceptance in Malaysia
KUALA LUMPUR, Malaysia, December 22, 2017
UnionPay International announces partnership with iPay88, Malaysia’s largest online payment gateway provider to expand its online acceptance. Currently, over 50 Malaysian e-commerce websites are already enabled with UnionPay acceptance. Progressively, consumers will be able to enjoy secure and seamless payment experiences with UnionPay Cards at over 70% of Malaysia’s e-commerce websites.
In ASEAN, Malaysia is one of the fastest-growing online markets with the highest penetration of online shoppers (67% of Malaysians online), followed by Thailand (57%) and Singapore (52%). Statistics from iPay88 revealed that the number of online transactions made in Malaysia increased by 161 percent in 2016 over the previous year. This is an impressive jump from 14.6 million transactions in 2015 to 38.2 million in 2016.
“As smart phone penetration and e-commerce industry in Malaysia continue to grow, UnionPay is committed to providing greater ease of online transactions for both merchants and consumers alike. This partnership with iPay88 allows us to leverage on their strong footprint in local online acquiring payment solutions to enable ease of e-payments for UnionPay Cardholders.” said Mr Wenhui Yang, General Manager of Southeast Asia, UnionPay International.
“iPay88 continually strives to offer the most comprehensive list of payment methods to facilitate e-commerce ecosystem in Malaysia and across the region. We are proud and happy that our merchants will now be able to accept payments from UnionPay cardholders. This will be offered as a value added feature to all iPay88 merchants and those in travel-related industries will benefit the most.” said Mr Lim Kok Hing, Co-founder & Executive Director of iPay88.
In Malaysia, UnionPay International partners Bank of China, Industrial & Commercial Bank of China and Public Bank to provide a range of payment products and services. Public Bank UnionPay Debit Card is enabled for online usage. Consumers can look forward to a host of online promotions with UnionPay Cards, including 10% off hotel bookings via Expedia and 10% off base fare on top of all ongoing AirAsia promotions.
About UnionPay International
UnionPay International (UPI) focuses on the international business of UnionPay, a global payment network that serves the world’s largest Cardholder base. With over 6.3 billion UnionPay cards issued in 162 countries and regions, over 45 million merchants and 2.55 million ATMs accepting our cards worldwide, UnionPay is currently one of the fastest-growing payment networks in the world. In Southeast Asia, UnionPay has enabled ATM, POS acceptance and card issuance across all 10 countries.
As a company with a global acceptance network and a wide range of world-class payment services, UnionPay is committed to providing access to value and secure payment solutions that are tailored to the needs of the local market, to enable choice and ease of payment for consumers and businesses alike.