Malaysia's Online Shopping in growing

The MasterCard Worldwide Online Shopping Survey that conducted last year revealed the number of people who shopped online in Malaysia grows from 55 per cent in 2010 to 67 per cent in 2011. According to MasterCard Worldwide statement, Malaysian is more confident to buy product or service online, compared with last year. Only 36 per cent of the survey respondents were concerned about the security while 39 per cent in year 2010. It may due to the enhancement in payment security such as 3D Secure (Verified by Visa and MasterCard SecureCode).

Mobile shopping is also slowly gaining traction in Malaysia with 25 per cent of the respondents made transactions through their mobile phone in the past three months. No doubt, mobile phone is rising rapidly as the device of choice for Asia shoppers in emerging markets.

Source: Business Time (16/5/2012)

Different experience of virtual shopping in Malaysia

Have you heard about HomePlus in Korea? Let see the following video first:

Is it awesome? Definitely and it help to save our time and money. Can find this in Malaysia? Of course YES.

Last month, Burj Asia Corporation (M) Sdn Bhd has launched their mobile commerce solution which enable retailers to be HomePlus in Malaysia at minimal fee. With its solution named Snap2Get, the Malaysian can use their smart phone to buy products and services virtually from the participating merchants or retailers. How this works for buyer?

1. First you need to have a smart phone with data plan subsription (or internet connection). 
2. Just turn on the QR Code reader application (Don't have? You need to install it into your smart phone and you can try QR Code Reader apps such as NeoReader and Redlaser). 
3. Use QR Code Reader to scan the QR Code of the product or service that you would like to buy.
4. Provide your personal details and shipping address.
5. Make payment by credit card or other available payment option.
6. Then just wait for your product to be delivered to your door step.

Cool right? Go to www.snap2get.my to give it a try!

Finally MOL offers online payment service named MOLPay

On 10th of May, 2012 Malaysian Electronic Clearing Corporation Sdn Bhd (MyClear), a subsidiary wholly onwed by Bank Negara Malaysia appoints MOLPay Sdn Bhd (MOLPay) as its first non-back acquirer of its Financial Process Exchange (FPX) service for online merchants. With this appointment, the Malaysian online seller able to implement online payment easily and securely by offering their online buyer to use Internet Banking service (such as Maybank2u, CIMB Clicks, etc.) to purchase their products or services online.

MOL Global Group (MOL), one of the largest internet companies in South East Asia ventures into online payment business after acquired NBePay, the first online payment service in Malaysia last year. MOL also owns MOL Access Portal and the pioneer social network, Friendster.

According to Group CEO of MOL Global during the signining ceremony, MOLPay will penetrate into other 4 countries by end of 2013, to become the leading online payment service provider in South East Asia. Besides, MOLPay also announced that they are going to launch physical payment, a payment services allowed online buyer to buy online but pay cash at participating MOL points centres such as 7-11 convenience store, POPULAR book store and cyber cafes. MOLPay believes this first physical payment service in Malaysia able to contribute to the growth of E-Commerce in Malaysia. Also, its physical payment services covers Singapore market via 7-11 convenience store, Singapore Posts and AXS kiosks.

iPay88 did very well in the past few years compared with NBePay. But, will iPay88 be defeated due to the rise of MOLPay? I noticed some iPay88 existing merchants have started to switch to use MOLPay. No doubt, MOLPay overall is better than iPay88 based my own personal research and the name of iPay88 is to "chinese" style and may not suitable for global expansion.