An interesting twist on the payment gateway model has been provided by Mobile Money International (MMI), a small Malaysian company that focuses on enabling m-transfer functions (limited m-banking or m-wallet services). This is in contrast to the early Korean PG provider focus upon content and downloads – perhaps reflecting the more conservative, less digitally aware make-up of the Malaysian market. MMI’s transaction processing fee is between 1.0 and 1.5 %. in contrast to the existing bank rate of 1.8 to 3.0 %. By 2007, MMI had some 12,000 partner merchants. The largest partner merchant is Tenaga Nasional Berhad (TNB), Malaysia’s main energy provider, however, the vast majority of the merchants are small.
They are calling a RM 15 million seed-capital company a small company? Hmm… then most bootstrapped startup would be a picocompany. Anyway, i think as far as KPMG is concerned, whatever company with turnover less than 1 Billion USD is considered small.
We personally think that Mobile Money is a great boon for e-commerce. It assures the merchant that the order is almost fraud-free. Thus it will render our Fraud Alert System (check out this innovative features newly introduced into webShaper e-commerce) useless.
I need to highlight that what Mobile Money is doing is NOT easy, they are trying to change the way people pay for goods and services and their biggest enemy is no other than the Status Quo.
Also adding to the tough challenge is, i think they have a tendency to complicate things – (Tell me what you think after you check through the slides, do you feel like signing up?) In my opinion, if you were to have mass adoption for your products and services, especially in the consumer field, you really need to make your stuff as simple and as no-brainer as possible.
Just like for software, people don’t like to check out documentation and if your stuff just works as they predict, they are happy! (and they think your stuff is good and this is where WOM starting to spread like wild fire) That’s why we are now working on Flash Demo for webShaper! Stay tuned! Others related news on the Internet
Digi & Citi Malaysia Offer SMS Global Remittance Service
Not too long ago, Paypal launched the Paypal Storefront Widget, a virtual storefront that allows anyone (with a Paypal Account) to easily sell online, by embedding a storefront widget on any web sites – be it your blog, website, social networking profile page, or just about anywhere that accepts HTML code.
With this simple tool, Now everyone can really sell online (just like how AirAsia motto: “Now everyone can fly“), all you need are
So, does it mean that neowave will be out-of-business soon? Well, far from true, if you are serious business merchant, you will want to go for a commercial grade e-commerce software like webShaper e-commerce to better manage and market your storefront.
Paypal Storefront Widget is designed for the masses, Customer-to-Customer (C2C) type of market, it’s a pretty simple (yet neat) tool designed to help casual sellers to sell on ad-hoc basics, and as a result, Paypal get more transactions and they earn more charging you a minor commission out of every single transaction!
Paypal has fast becoming the Godzilla in the payment industry, it’s like when almost everyone else is driving a smart, they are active on the road with the beast above keep picking up new customers and eating into other’s market share.
As you know, when it comes to selling online internationally, Malaysia merchants are stuck with only 3 viable choices -WorldPay, Paypal, or 2Checkout. Adding more to the hassle, none of them actually provide a fast and convenient way for us to take the money back into our bank account (to earn some damn interest!).
The 2Checkout prepaid MasterCard� powered by Payoneer.
2Checkout.com is introducing a new way for our vendors all over the world to receive their weekly payment. As of July 11, 2007, you will be able to register for your own Payoneer MasterCard, and receive your 2Checkout payments directly on the card.
The new multi functional 2Checkout prepaid debit MasterCard� that can be used at ATMs, stores and online anywhere around the world.
2Checkout MasterCard� benefits:
Cards are shipped to virtually everywhere worldwide
Cards can be used anywhere MasterCard� is accepted � online and in stores
Withdraw cash in local currency at ATMs around the world
2Checkout payments will be loaded directly onto the card
Online access to view your account, payments, balance and transaction history
If the card is lost or stolen, a new card is issued and the balance is transferred
To order and change your payment to the 2Checkout prepaid MasterCard�, enter the banking wizard and click on the 2Checkout prepaid MasterCard� option. Once you have received your card go back into the wizard and put a check in the box that says accept Payoneer.
Suppliers, consider making the switch. One step, One card, One PIN.
Payoneer has stringent regulations for customer privacy and uses top of the line security technology. If you ever have any questions about your card, Payoneer offers customer support by phone, email and live chat.
If you choose to be paid using the Payoneer option, you will be taken to a 2Checkout/Payoneer site to register for your new card. After receiving your card, you can use it at any merchant that accepts MasterCard and ATMs worldwide.
For questions about the 2Checkout Prepaid MasterCard�:
support@payoneer.com Within the United States: 1-800-251-2521 x2
Outside the United States:1-847-461-1386 x2
If you have a 2Checkout Account, login to apply one NOW!�If not yet, consider getting one
Is it good news to us? Yes, definitely, the more such options, the merrier. Such withdrawal option could provide a fast�and healthy cash flow for a lot of small businesses�which really cannot afford to wait weeks for the payment remittance.
But does it mean you can finally thrive and achieve easy success selling online? Nah… the reality is, NO, very unlikely. Payment problem is only the first challenge when it comes to Internet retailing.
The biggest challenge will always remain Building Trust, Marketing, and Customer Service! We will touch more on the topics in coming blog post. Visit us back soon!
So, Is this, what Malaysia merchants have been waiting for “decades” (literally), finally come true? does it mean from now on, we don’t have to go through all these hard-ball methods just to get our hard-earned money cash out so we can park in Malaysia bank account to earn some decent interest (for those who didn’t declare the $, beware, it’s rumored that that LHDN (aka Inland Revenue Board / Government Tax Agency) is paying attention to all these $$$ ‘floating’ around in Paypal and want a cut of what you have). Well, you just gonna read on… Read the rest of this entry »
We’re excited to announce that webShaper ecommerce is now supporting one more UK based payment gateway – Protx.
PROTX payment systems for small businesses is a mere £20 per month with ZERO transaction charges added on. Now UK small business merchants has one more affordable choice they can pick when they use webShaper e-commerce to empower their online store.
So what’s next for this Malaysia Emerging Payment Solution? Will Malaysia Merchant using iPay88 be able to accept internet purchase from Philipino as well? and eventually Indonesian, Thai etc? Keep your finger cross!
Rajiv Dutta, President of PayPal, recently just announced at eBay live 2007 that Paypal Security Key is already available to all the merchants! Doesn’t matter if you weren’t there, catch his recorded live-webcast online!
This baby definitely looks cool as a key chain. (Thanks for the picture, from 3dom)
Well, apparently not really all Paypal users can get it… since we got rejected numerous time when trying to apply for it, by both of their old-look site and new-look site.
We were rejected once….
Then we never give up, try again, rejected dunno how many times after….
Sigh.. no reason stated why, just keep asking us to “try again”. Well, apparently it’s no typical playing-hard-to-get, but we are no typical courter as well…
So What the fuss is Paypal security key?
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An electronic Dongle with 6 digit real time security code. – same like those you will find if you have an account with HSBC banks.
The PayPal Security Key generates a unique security code approximately every 30 seconds (some other devices is every 60 seconds). Paypal users can use this code, along with their user name and password, to sign into both their eBay and PayPal accounts, helping to prevent unauthorized users from accessing them. If someone tries to access your account without the code, they’re locked out. The code – which is synchronized with your log in – will then change at the next 30 second cycle, so you can only get in each time by physically having the Security Key.
This additional security is known as 2-factor authentication, is used by leading financial institutions (like etrade, see below) as additional means to protect consumers and reduce losses from online fraud such as phishing attacks.
It’s amazing, it never occurred to me that KFC (Malaysia favorite Chicken Dish) will accept credit card payment, partly due to the fact that there’s latency in the process of credit card payment due to the need to – slotting in your fancy card, back-and-forth authorization, signing your big name plus signature authentication etc etc which will significantly slow down the paying process. That’s why most of the hypermart nowadays have an express lane cater for 10 items or below and they only TAKE CASH!
I cannot reason the logic on why would KFC, as a FAST FOOD restoran want to accept credit card payment. Isn’t cash the king? Can it really offer all-the-chicken-lovers a faster and smoother buying process? Can it cut down the queue time during peak?
On the other hand, I can totally understand why VISA/MASTER/JCB would love KFC (or McD, A&W etc) to do so, if you are observant, you probably will realize that in your daily transaction, food (referring to small amount transaction volume aka our normal meal) is where the credit card has the least significant presense. Most of us just pay for our normal meal by CASH! Especially very true for fast food as the name implies, you want the food FAST!
So If this experiment works well, it could contribute significantly to their bottom line even they capture only a small percentage of the amount as we are talking about billions of dollars of transaction every year over all these fast food chains! And best of all, super low chargeback & fraud risk, well, please tell me who will want to dupe a meal? It’s an insult itself for credit card fraudster to dupe on low value stuff as they too have self-respect and it cannot justfiy the cost!
Anyway, I think they are pushing this mastercard paypass service. But It’s not obvious to me whether they are accepting ONLY MasterCard Paypass or VISA WAVE. Both are contactless and works just like our ingenious Touch and Go (MyKad anyone?). They claimed it’s faster than cash transaction (Oh… is it?) as no signatures required and there is no need to hand the card to the cashiers. This contactless technology is specially designed to beat the queue, but can it really live up to the expectation?
Heck, who cares, sometimes we still prefer to carry cash. We suggest you to carry at least a stash of 10K and above as if you are being robbed, you are assured a front page coverage on the major news media and it can effectively pressure the police to investigate and put your case as top priority while claiming your-one-day-celebrity fame. Think 10K cash hanging at your pocket is a lot? Go ask Steve Wozniak
So, anyone tried to pay using their credit card in KFC? How’s the experience like? Please don’t do it while hungry kids and aunty are queuing along the line.. because they cannot understand why would anyone want to use a plastic paying for some chicken body that cost only RM6.80??
Well, bottomline is, if the experiment works well, you might be finding every hawkers store will start accepting credit card soon.
if you are serious business merchant, you will want to go for a 
So, Is this, what Malaysia merchants have been waiting for “decades” (literally), finally come true? does it mean from now on, we don’t have to go through all these 
