Visa launches easy payment service

  • Business
  • Wednesday, 09 Mar 2016

KUALA LUMPUR: Visa Inc, a global payment technology company, has launched its fast and easy mobile payment service, Visa Checkout, in Malaysia.

“The service will enable consumers to make payment for goods online, on any device, with just a few clicks,” Visa country manager for Malaysia, Ng Kong Boon told reporters at the launch here.

Since its launch in 2014, over 11 million Visa Checkout accounts have been created with more than 250,000 large and small merchants, and 600 financial institutions have become its partners.

Ng said with 71% smartphone penetration and an active online community who spent an average of four hours on the Internet daily, the Malaysian market would augur well with the mobile commerce it was promoting.

“This new mobile payment service will address frustrations experienced by many online and mobile shoppers as it requires only a few steps to complete an online purchase,” said Ng.

He said based on a study, online and mobile shopping experience was not as seamless as it should be with 81% of abandoned payment recorded.

This, he said, was due to the customer’s unwillingness to register an account with merchants and time-consuming process to complete a payment.

Visa Checkout would make it easy and Visa was confident Malaysian consumers would embrace its latest service, said Ng, adding the company aimed to partner with some 100 merchants in Malaysia by year-end, compared with 20 currently. – Bernama

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