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Posts Tagged ‘ Payment Gateway ’

 

Google has announced that Android Pay will be available in five new markets: Taiwan, Spain, Brazil, Russia and Canada.

 

So far, Google has officially confirmed that Android Pay is launching in Taiwan. Furthermore, the company unveiled plans to expand its mobile payment app to Canada, Spain, Brazil and Russia.

 

Russia media reports that Android Pay will be available at the following banks: Sberbank Rossii, Alfa-Bank, Raiffeisenbank, and Tinkoff Bank. Android users, which account for 87% of the total smartphone market in Russia, according to XDA, will be able to make mobile payments using the NFC at these banks.

 

Google has not confirmed which banks will support Android Pay in Canada, Spain and Brazil.

 

 

Alipay to launch in the US

By on May 12, 2017

 

Alipay, the mobile payment system offered by Alibaba, has announced is coming to the US, thanks to a deal brokered with First Data.

The expansion follows limited trials in California and New York, and will bring Alipay into direct competition with Apple Pay, Android Pay, and PayPal. Alongside online payments and money transfers, Alipay users can also hail a taxi, book a hotel, and buy movie tickets directly from within the app.

The partnership will allow Chinese tourists who visit the US to use their mobile phones to complete transactions at 4 million merchants and retailers around the country.

Alipay has about 450 million customers worldwide, but Alipay’s deal with First Data aims to offset the mobile payment’s loss of ground in China.

Is Malaysia Ready to Go Cash-Free?

By on February 19, 2017

A Cash-Free Future

Think about the last time you carried a wad of cash to go shopping –we’re willing to bet that it’s been a while. Nowadays, all you need is to pack plastic; a debit or credit card and only a bit of spare cash, just in case. Even mobile payments are catching on with offline merchants.

Going cashless is relatively safer, convenient and what’s more, every cent spent can be tracked. Furthermore, without cash at checkout points, fewer errors can be expected where cashiers incorrectly return change.

But still, even with all these positive points and a push from Bank Negara Malaysia, are we really ready to go completely cash-free? To answer this question, let’s first look at our cashless options:

 

1. Bank Cards

Debit, credit and prepaid cards are the most commonly accepted and used cashless payment options in Malaysia. In recent years, debit card usage has spiked, with approximately 44 million.pdf) cards (as of 2013) in circulation. This means that when compared to the population in the country, about 1.5 debit cards has been issued for each person.

 

2. Mobile Transactions

Online merchants have equipped remittance systems to allow for checkouts and payment from smartphones. Even local offline merchants have incorporated mobile banking facilities as well, although in smaller numbers.

 

3. Contactless Payments

New tech has equipped payment cards and smartphones with contactless payment features such as Visa payWave and MasterCard® Contactless. These features speed up the checkout process; sans the need to count coins and paper money. It’s also rather convenient as you don’t have to run to the ATM as much to withdraw cash for small payments.

 

4. Prepaid Cards

Cards preloaded with cash like the Touch ‘n Go Zing card can be used for more than just highway tolls (which is to go fully cashless by 2018). Use it to pay for “public transport, carparks, petrol, retail chains, restaurants and healthcare”. Visa and MasterCard prepaid cards are also available for use at many more merchants.

 

5. Virtual Money

Digital currency and Cryptocurrency such as Bitcoin are not recognised as legal tender in Malaysia just yet, but locals are still using it. A petrol station in Jalan Raja Chulan started accepting bitcoins for payment in 2014, in addition to a VPN service and boutique café in Taman Tun Dr Ismail.

 

Barriers to a Fully Cashless System

Even while all these payment options are available to Malaysians, there are a couple of obstacles that need to addressed before we can truly go cashless.

  • Not Accepted Everywhere

At present, the cashless option as a payment method isn’t available everywhere. Have you tried paying for your teh tarik and roti canai at the local mamak? It probably won’t work. Apart from these small-scale operators, even certain fast-food joints, convenience stores and health clinics are still only accepting cash.

In fact, usage of cashless options appears to be focussed in city areas and within larger retail establishments. Thus, even if Malaysian consumers are equipped with cashless payment articles; vendors and merchants will need to adopt the system before we fully (or mostly) go cashless.

  • A Cash Mindset and Trust Issues

While it appears that the majority of Malaysian consumers are embracing cashless systems, it is possible that usage is confined mostly to those in the capital, major cities and towns.

Denizens of rural areas and outskirts of Malaysia are still very much dependent on cash. And even as numerous cashless payment options are available, changing mind sets and addressing trust issues apparent with cashless systems is going to take time.

Riding the Cashless Wave

If you’re ready to join the cashless world, note that one of the best cashless options currently available is still your credit card. This is because it has numerous fraud protection protocols in place, especially when shopping with overseas online merchants and is often accompanied by special perks.

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Amazon and PayPal have discussed the possibility that the online retail company to support PayPal payments at checkout.

Amazon offers credit and debit cards, gift cards, and Amazon.com store cards as payment methods. Customers can also link their checking accounts to the site to make quick purchases.

PayPal grew to 197 million active users at the end of 2016. According to the company’s data, each of those accounts averaged 31 transactions in the preceding 12 months.

Amazon Payments can be used by merchants to facilitate payments, and by customers to make those payments. In many cases, the merchants that use Amazon Payments to facilitate purchases also offer customers PayPal.

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Facebook has obtained an e-payments license from the Central Bank of Ireland, signalling that the ability to pay people through the Messenger app (already available in the US) could soon be coming to Europe.

 

The Central Bank of Ireland’s approval of the payments license was authorised to Facebook Payments International Limited (FBPIL) in October 2016 for “e-money issuance” and “payment services.” TechCrunch reports, cited by businessinsider.com. As a member of the European Union, passporting rights mean that the Irish license would apply throughout the other 27 EU member states.

 

Currently, the payment service only works in the US. It allows customers to send money to friends via the Messenger app, a feature which it has recently been promoting. It has been reported that the social network will soon be adding payments to businesses, as well as friends, via the app.

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Xiaomi has kicked off its footprint in the Chinese mobile payment industry with its NFC-based payments service Mi Pay.

In many respects, the payment system works similarly to Samsung Pay, Android Pay, and Apple Pay. It uses NFC for wireless transmission of payment information via smartphones and aims to eliminate the use of physical cards.

Mi Pay will allow you to store your card details – be it credit, debit, loyalty, gift or membership card details – into your smartphone thus removing the need to carry physical cards. Payments can be done by hovering the NFC-enabled smartphone over a compatible reader at the retail outlet.

Currently, the only Xiaomi smartphone in the market that supports NFC is the Mi 5, however, the company is expected to announce the rollout of Mi 5 soon.

Xiaomi has also announced a host of banks that already support Mi Pay. The list includes China Construction Bank, Bank of Communications, China Merchants Bank, Huaxia Bank, Minsheng Bank, Ping An Bank, and Industrial Bank. More banks such as Bank of China, Industrial and Commercial Bank, China Everbright Bank, Beijing Bank, and Guangdong Development Bank will be added next month.

Xiaomi will compete with Apple Pay and Samsung Pay which are already live in China.

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Apple Pay has been around for more than a year and Apple is said to be working hard on expanding its mobile payment service.

According to The Wall Street Journal, people familiar with the matter claim that Apple is in talks with several banks in the US to launch a person-to-person mobile payment service next year. It will enable individuals to transfer money between friends and family members with their iOS devices.

Based on current plans, the person-to-person mobile payment service works slightly different from Apple Pay; banks will not be charged for processing person-to-person payments. At the moment, no deals have been signed and discussions are still going on with regards to the technical implementation.

The Wall Street Journal suggests that Apple could tap into an existing system, ‘clearXchange’ which depends on checking accounts to transfer money via an email address or phone number. To make the process seamless for users, Apple could connect it to the Apple ID in the background.

The Wall Street Journal – “The service under consideration would allow consumers to zap payments from their checking accounts to recipients through their Apple devices. The service would likely be linked to the company’s Apple Pay system, which allows customers to make credit-card and debit-card payments with their mobile phones.”

mycybersale-malaysia-online-sale MYCyberSALE online shopping campaign is Malaysia’s answer to the United States’ Cyber Monday, Singapore’s Bigger Better Sale and Thailand’s Online Mega Sale. Spanning over a period of 12 days, the campaign will see local E-commerce merchants like Groupon, offering simultaneous online shopping deals and discounts for the Malaysian consumers. It is an initiative by MDEC, the government agency tasked to spearhead the country’s ICT drive and oversee the development of MSC Malaysia. It is believed that #MyCyberSALE is the FIRST & BIGGEST cyber sale to be launched in Malaysia this year #MYCybrSale is aim for online sellers in Malaysia and the objectives are:

  1. Create the awareness and encourage Malaysians to shop online
  2. To boost E-Shopping cultural in Malaysia
  3. To encourage SMEs to be part of eCommerce eco-system
  4. To increase the domestic eCommerce revenue from the eCommerce spending in Malaysia

 

MDEC has a target of 100,000 shoppers and RM50 million sales for the campaign period. All participating online retailers, marketplaces and voucher/deal websites must be registered with MDEC, and undergo a strict vetting and approval process.

 

What you as an eCommerce owner will be benefit from the #MYCyberSALE event is that once your application is approved by the organizer, you will actually get the free advertisement and link back from the #MYCyberSALE advertisement page, create the exposure on the ad media such as YouTube, Google Ad, Line, Media print such as The Star, Kosmo, Xin Chew Daily, Digital ads such as OOHM, Radio Media such as Era, MyFM, Hitz.fm and more. The best part is everything come with FREE. To join the Malaysia first and biggest sales event, you need to have the following:

  1. Malaysia registered business under Business Act 1956 or Company Act 1965
  2. Must have a complete eCommerce site
  3. Must processed a recognized payment gateway such as Paypal, MOL Pay, iPay88, or eGHL
  4. Your online store must display clear Terms & conditions, Company Contact & etc
  5. Do not have any unresolved customer complaints

 

#MyCyberSale Campaign Period 29 September – 10 October, 2014 #MyCyberSale Merchants Below is a list of participating E-commerce merchants: MyCyberSales Participate merchant 2 MyCyberSales Participate merchant 1

 

  The following is the presentation slide of what’s is the #MYCyberSALE about and also the detail.

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The e-commerce division of WorldPay, a global provider of payment and risk services, has processed more than 257 million online transactions in H1 2013.

According to the company, online transactions have reached a record rate of 320 transactions per second. Alternative payment transactions have been a strong driver of growth, with the value of payments processed increasing by 46 percent in H1 2013 compared to the same period in 2012. The business is confident that it can deliver 20 percent growth in 2013, with alternative payments growing the fastest.

In 2013, WorldPay has signed a number of customer deals including:

  • JustGiving, a UK-based online giving platform to provide global payment processing support;
  • Playtox, a provider of mobile browser games in Russia, to provide gateway and acquiring services, with a specific focus on alternative payment acceptance;
  • Secret Escapes, a luxury travel deals experts, to provide global payment processing services and alternative payment acceptance;
  • Skype, the communications software division of Microsoft further expanded its relationship with WorldPay to enable Skype to accept QIWI Wallet Payments to improve local payment offerings in Russia;
  • MetroPlay, the newly launched urban mobile gaming destination, to provide payment processing, depositing and risk capabilities services;
  • Infernum Productions, an international publisher and operator of online games, to handle online payments on a global scale for Infernum’s new game, Dragon’s Prophet;
  • Kobo, a global leader in eReading, implemented RiskGuardian, to protect against fraudulent transactions and resulting chargebacks as the company continues to expand into the US market.

WorldPay has more than 200 national and international payment methods and operates in over 40 countries worldwide.

For more information about WorldPay, please check out a detailed profile of this company in our dedicated, industry-specific online companies database.

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Chinese internet company Sina has revealed plans to release an online banking platform in September 2013.

 

The new service, dubbed WeiBank, will allow consumers to make financial transactions, complete bank transfers, make remittances, manage credit card and perform other money-related tasks online.

 

Sina has yet to disclose specific details of business model and the degree to which the product is integrated with Sina’s other products. Sina started to explore the internet payment business in 2011. The company launched the online payment tool SinaPay and upgraded the service into WeiboPay (micro-blogging wallet) in 2012. Every Weibo user automatically has a WeiboPay account.

 

In Q1 2013, Sina has seen its net revenue reaching USD 126 billion, up by 20 percent y-o-y. During the same period, its advertising revenue has jumped 20 percent to USD 94.3 million and non-advertising revenue has increased by 14 percent to USD 31.7 million.