MOLPay
MOLPay.[1] is a payment gateway in Malaysia that enables local and international merchants to accept payment from credit or debit cards, online banking, cash at 7-Eleven, e-wallets, and more. Headquartered in Malaysia, it provides payment services to businesses at local and regional levels.
History
MOLPay was established in 2005. It was formerly known as NBePay and later became a part of MOL Group as a joint venture with MOL AccessPortal and Netbuilder Sdn. Bhd. Following the venture, MOLPay was named after its rebranding from NBePay. In May 2018, Razer acquired MOL Global, and this acquisition included MOLPay as one of Razer Inc.’s subsidiaries[2]
Services
MOLPay processes payments for online businesses across Southeast Asia. The payment system is equipped with PCI DSS Level 1 and has recorded one of the lowest dispute transaction ratios in the online payment industry. Other than online banking and credit card acceptance, the company has innovated a range of products and services such as MOLPay Cash. MOLPay Cash enables online businesses to accept cash payments at 7-Eleven[3]. Among businesses that have been using this service are Lazada[4], 11street[5], and more.
Growth
MOLPay has expanded its payment gateway services to Southeast Asia, Taiwan, and China. MOLPay Cash at 7-Eleven in Malaysia has become a payment option used by shoppers at Lazada and more. This payment method is also used by time-sensitive businesses such as Traveloka and universities, such as the National University of Malaysia (UKM).
MOLPay also set a new transaction record during the 11.11 and 12.12 sales in 2017[6] and 2018[7].
Recognition
In 2017, MOLPay was listed in the top 10 fastest-growing fintechs in Malaysia[8]. The company also won the Malaysia Digital Business Awards, Excellence in Payment Gateway. In 2018, MOLPay won the Golden Bull Awards in the “Outstanding SME” category.[9]
References
- ↑ "MOLPay - Southeast Asia Payment Gateway". MOLPay. Retrieved 2018-12-31.
- ↑ Tariq, Qishin. "Razer to wholly acquire MOL Global for RM238.35mil - Tech News | The Star Online". www.thestar.com.my. Retrieved 2018-12-31.
- ↑ "Tech in Asia - Connecting Asia's startup ecosystem". www.techinasia.com. Retrieved 2018-12-31.
- ↑ Hew, Venus (2017-05-11). "Lazada Malaysia partners 7-Eleven to roll out offline payment services". Marketing Interactive. Retrieved 2018-12-31.
- ↑ "11street Purchases Can Now Be Paid Offline At 7-Eleven Via MOLpay Cash". Lowyat.NET. 2017-11-21. Retrieved 2018-12-31.
- ↑ "MOLPay sets new transaction record in 11.11 and 12.12 sale events". Digital News Asia. 2017-12-28. Retrieved 2018-12-31.
- ↑ Milo, E. C. "MOLPay stood solid on 11.11 despite traffic surge 2,000%". Retrieved 2018-12-31.
- ↑ "10 Fast Growing Fintech for Malaysia". Fintech News Malaysia. 2017-09-08. Retrieved 2018-12-31.
- ↑ "2018". Golden Bull Award Malaysia. Retrieved 2018-12-31.
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