mySimplifieds brings online payment convenience to Malaysians
The first Malaysian online classified portal to provide payment service for online transactions
SHAH ALAM, 12 MARCH 2010: DiGi Telecommunications Sdn Bhd's (DiGi) classified portal, mySimplifieds (www.mySimplifieds.com) is teaming up with global online payment giant, PayPal and one of Malaysia's largest online payment system iPay88, making it the first online classified portal in the country to integrate payment services for its members to transact on the Web.
The partnerships are also in line with the launch of mySimplifieds latest feature, Storefront that allows members (sellers) to receive payments directly from their customers via online. The subscription to Storefront will allow sellers to advertise and sell unlimited items at any one time and to be able to automatically track their sales inventory through their 'shopping cart'.
"The agreement with these two well known online payment providers is an important step for mySimplifieds to make it easier for Malaysians to buy and sell online. We believe now is the ideal time to offer this service with the increasing acceptance of online payment methods among the masses. In addition, the sellers now have a low cost alternative to expand their business to a wider market." said Noelle Tan, DiGi's Head of Strategy and New Business.
"With their expertise in the international and local online payment market, we believe both PayPal and iPay88 will provide the best online payment service to Malaysians. This will allow sellers to successfully sell their products and buyers to have a convenient and secure way to pay for their online purchases on MySimplifieds," Tan explained, adding that the value add service will help to attract more people to mySimplifieds.
Starting in mid-March, PayPal's services will be available for mySimplifieds members who want to start accepting credit and debit card payments from online shoppers in Malaysia or 190 countries and regions around the world. Later in Q2 this year, iPay88 will be integrated as another payment option for mySimplifieds members.
"Working with mySimplifieds is a natural fit with PayPal's objectives to enable ecommerce growth in Malaysia and beyond," says Gene Wong, Head of PayPal Merchant Services, Southeast Asia and India. "By offering buyers a faster, convenient and safer way to pay for their goods, mySimplifeds sellers can also benefit through incremental sales* and increased conversions with PayPal**."
"The partnership will see iPay88 providing credit card payment and banks direct-debit services to mySimplifieds' merchants or sellers. It is a win-win situation for both iPay88 and mySimplifieds to speed up the adoption of e-commerce, which is rapidly becoming an important industry in Malaysia. Via e-commerce, business can sell products and accept payment 24hours a day, including public holidays," added Lim Kok Hing, Executive Director of iPay88.
To celebrate its tie-up with PayPal and iPay88, mySimplifieds is having a special six (6) month promotion whereby anyone who signs up for the Storefront feature from March 13th to September 30th, 2010 will get to enjoy the Storefront service free of charge within the same period. After the six-month promotion, mySimplifieds members can subscribe to the Storefront service at a fee.
On top of that, Storefront subscribers who sign up for PayPal payment services between March 13th and September 30th will receive up to 40% off PayPal transactions fees***.
For more information on mySimplifieds easy online payment convenience, please visit www.mysimplifieds.com.
Established in 1995, DiGi is listed on Bursa Malaysia Securities Berhad and is part of the global telecommunications provider, Telenor Group. DiGi focuses on making it easy, keeping it relevant and providing the best deals to ensure excellent customer experience in mobile and internet services. Through its corporate initiative, Deep Green, DiGi is committed to a sustainable business that is financially and ecologically responsible to all stakeholders.
mySimplifieds (www.mySimplifieds.com), is a Malaysian classifieds portal that was set up in 2009 to provide a truly functional and easy-to-use service for Malaysian web and mobile users to advertise, buy and sell online in a simple way via the various online and WAP features and functionalities. mySimplifieds, is also accessible via other websites, popular social networks (Facebook and Twitter), and mobile using WAP.
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without disclosing financial information, with the flexibility to pay using their account balances and credit cards. With more than 81 million active accounts**** in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices.
In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web*****. PayPal's Total Payment Volume, the total value of transactions in 2009 represented 15 percent of global e-commerce******.
PayPal is headquartered in San Jose, California. Its international headquarters (PayPal Pte. Ltd.), is located in Singapore. PayPal is an eBay company. More information about the company can be found at www.paypal.com/my.
Consumer advisory - PayPal Pte. Ltd., the holder of PayPal's stored value facility, does not require the approval of the Monetary Authority of Singapore. Users are advised to read the terms and conditions available at www.paypal.com.ph carefully before use.
iPay88 is the one-stop online payment service provided by Mobile88.Com Sdn. Bhd (a MSC status company) and is compliant with the Malaysia Payment System Act. iPay88 allows online merchants to collect payment online securely from their buyers using Visa and MasterCard cards, local bank Direct Debit services (Online Banking) and local e-wallets. There are more than 2,000 local and international online stores, using iPay88 to process online transactions in Malaysia Ringgit (MYR) and over 10 major foreign currencies.
iPay88 is headquartered in Kuala Lumpur, Malaysia and with a branch in Jakarta, Indonesia and is expanding its services in the South East Asian region.
More information about the company can be found at http://www.ipay88.com.
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* PayPal can increase sales by an average 14% by delivering greater shopping convenience. Source: PayPal survey of 200+ US sellers who were already accepting credit cards online, but added PayPal showed an average sales lift of 14%.
** PayPal's Express Checkout solution has a 72% conversion rate. Source: Based on PayPal Q2 2007 analysis on Top 100 PayPal merchants in UK and US combined (in terms of volume).
*** Terms and conditions apply.
**** Active accounts are those that have had activity in the past 12 months.
***** Source: PayPal Brand Tracker Q4 08 and Nielsen Consumer Report 2H 2008.
****** Based on Forrester estimates of US e-commerce with the addition of eBay Inc. internal metrics totalling $256B.
Corporate Communications Department.