iPay88 said that it has added e-wallet ShopeePay as one of the options within its payment gate solution, thereby strengthening iPay88’s partnership with e-commerce platform Shopee.
With the integration of ShopeePay, both online and offline merchants that are subscribed to iPay88’s network will now be able to accept ShopeePay as another payment option. This also means that ShopeePay users will be able to use the e-wallet at online stores, such as Al-Ikhsan Sports, Delivereat, MPH Online, Photobook, Signature Snack, and Tune Talk. They can also tap into ongoing promotions, such as the current RM3 cashback offer when consumers spend a minimum of RM15 with these merchants.
The co-founder and executive director of iPay88, Lim Kok Hing commented that e-wallets have proven to be a fast and convenient mode of transaction, with a growing number of consumers preferring to use it for both online and offline purchases. “ShopeePay’s integration into our payment solutions is needed as we foresee there will be a continued e-wallet demand for payments as Malaysians seek rewards in the form of points, cashback, and discounts in this trying time,” he said.
Meanwhile, the head of ShopeePay, Alain Yee said that this partnership will enable ShopeePay to become the preferred e-wallet for all Malaysians. He further pointed out that ShopeePay is also being adopted by users outside of the Klang Valley and major cities in the country, sharing that ShopeePay’s highest user growth rate is recorded in Kelantan, Kedah, and Perak.
“We recognise the massive opportunity to expand ShopeePay with iPay88 as e-wallets’ popularity has grown by leaps and bounds in the last 12 months. We are very excited to see how our partnership with iPay88 has flourished over the years into something this large,” said Yee.
Aside from this, iPay88 also revealed that its e-wallet transactions have multiplied by six-fold in 2020 compared to the previous year, with 4.1 million transactions being recorded in total. This is driven by the Covid-19 pandemic, which saw many businesses digitalising themselves to survive. The increased online activity is most clearly seen in online shopping, cashless payments, and food delivery services. iPay88 also said that its online touchpoints increased by 30% in 2020, to over 37,000 as merchants moved their businesses online.
(Source: The Malaysian Reserve)