LINE

    Text:AAAPrint
    Economy

    Malaysian e-payment company partners with China's Alipay in digital wallet solution

    1
    2018-02-05 16:54Xinhua Editor: Gu Liping ECNS App Download

    Malaysia has seen a burgeoning mobile wallet segment since the entry of the Ant Financial's mobile solution Alipay into the country.

    Many local players have jumped onto the mobile payments bandwagon to tap into Malaysian e-commerce market. MOL Global Inc, an e-payment enabler for online goods and services, is also one of them.

    After partnering with Ant Financial in offering Alipay to Chinese tourists in Malaysia, the group in the last month launched its owned mobile wallet One2pay.

    "When Malaysians see Chinese tourists come to Malaysia and use Alipay, they may ask why they cannot use that? So, I think that is good that Alipay has come to the region as it has excited the market," MOL Global's CEO Preecha Praipattarakul told Xinhua.

    "At the same time, it has also exerted pressure on local players to come out with something new," he said.

    The technology provider for in-store payment services aimed to achieve 1 million users and cover 6,000 merchants by this year. It also sees Malaysia as its starting point, and eyes an expansion to Thailand by the fourth quarter this year.

    "I believe we have the competitive advantage to offer a one-stop service to Malaysians. Besides, our partnership with Ant Financial has helped us to grow our merchant coverage," said Praipattarakul.

    Indeed, he sees Chinese mobile wallets WeChat pay and Alipay as models in growing the home-ground mobile wallet.

    "We cannot deny that they (Chinese mobile wallet providers) are global leaders in mobile wallets. Although our technology in processing data is not as advanced as them, we are learning from them," Praipattarakul added.

    Citing the Chinese mobile wallet players as examples, he sees great potential in non-bank financial sector in Malaysia as they have provided the users experience in which the conventional credit cards cannot offer.

    He also sees the adoption of mobile wallets today is faster than the credit cards due to the easier and faster payment system by using QR codes.

    Despite the digital wallet war is heating up in Malaysia, he is confident that the group can achieve its leading position by differentiate itself from the value proposition.

    "It's true that a lot of start-ups invest into the market and not all the mobile wallets can survive eventually. But we are confident as we have the most coverage," said Praipattarakul, adding that the group so far attracted 4,000 merchants to use its mobile wallet, which is not far away from its year-end target.

      

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2018 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 天水市| 丰顺县| 皮山县| 洛扎县| 苍山县| 平阳县| 湄潭县| 任丘市| 金溪县| 宜城市| 新河县| 丹东市| 丰县| 四子王旗| 友谊县| 保定市| 昌平区| 兴义市| 苍梧县| 新建县| 宣武区| 巴南区| 江口县| 舒城县| 内丘县| 莱芜市| 镇原县| 乌鲁木齐县| 金门县| 新巴尔虎右旗| 赤峰市| 雷山县| 营口市| 高密市| 东城区| 吉林省| 乐平市| 华安县| 上犹县| 凤台县| 石阡县|