UnionPay ties up with iPay88 to expand online acceptance

KUALA LUMPUR: Payment network UnionPay International is partnering 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 161% 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 UnionPay International general manager of Southeast Asia, Wenhui Yang.
"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 iPay88 co-founder & executive director Lim Kok Hing.
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.