iPay88 has announced a partnership with PayPal. This will allow the Malaysian e-commerce payment solution provider’s customer base access to PayPal’s international presence. At the moment, iPay88 claims some 10,000 local businesses; while PayPal has an excess of 184 million active accounts across more than 200 markets.
KL Chan, Executive Director of iPay88, said “there is also a large, untapped market of businesses and companies which are still considering moving into the online eCommerce sector. This collaboration with PayPal is timely as it will help capture this market effectively by offering both online banking and credit card payment options.”
The partnership will allow businesses looking to sign up for a PayPal account to do so through iPay88. Reducing the amount of work required to establish an online payment system. This also allows the new businesses to benefit from PayPal’s multi-currency checkout. Ideally, this is for reaching a more global audience.
Rahul Shinghal, General Manager for PayPal Southeast Asia says, “We are extremely pleased to collaborate with Malaysia’s leading online payment provider iPay88 to support local businesses in selling overseas. It has always been a challenge for businesses, especially small ones, to expand and sell overseas. PayPal is committed to helping them grow by leveraging the power of eCommerce, which gives them a level playing field when competing with larger export houses. We hope that with our support, local businesses can better understand where the growth opportunities lie, build strong trust relationships and become increasingly mobile. This will provide them with the opportunity to tap on current trends, attract the global consumer and become competitive players in the global marketplace.”
This won’t mean much for the average Malaysian, but it is good news for local e-commerce sites. Access to PayPal allows them to cater to a much wider market; although reality may require a little more work than simply allowing safe international payments.