MOLPay teams up with SingPost to extend Malaysian online businesses to Singapore market
KUALA LUMPUR, 20 March 2013 | MOLPay, a leading online payment solution provider in Southeast Asia has added Singapore Post Limited (SingPost)’s network of Self-service Automated Machines (SAM) into its list of Physical Payment Channels. Physical payment is an alternative payment option apart from credit card and Internet banking for e-commerce offered by MOLPay.
With SAM as a physical payment channel for MOLPay, online shoppers in Singapore can pay for their online purchases by cash and in Singapore dollars using their NETS cards.
This service will also allow MOLPay’s new and existing e-commerce merchants to extend their online businesses to Singapore, tapping on SAM network as another payment collection mode.
SAM is a 24-hour automated post office that allows residents in Singapore to weigh packages, buy stamps, or even pay off their bills and fines with easy step-by-step instructions displayed on the touch screen. Close to 300 SAM machines are strategically deployed island wide at HDB heartlands, MRT stations, shopping malls as well as some selected private condominiums in Singapore.
MOLPay is the first multi-currency payment gateway in Southeast Asia that accepts cash payments for online purchases, through physical outlets such as convenience stores and bookstores. It is simple to setup on any e-commerce store and also, convenient and secure for online buyers to use. MOLPay offers a wide range of e-commerce payment solutions – from online payment acceptance and processing to fraud management to payment security. MOLPay processes more than MYR1 billion transactions a year.
Founded in 2005, MOLPay has received various recognitions such as Merit Award in the MSC Malaysia Asia Pacific ICT Awards 2008 and MEPS FPX Most Outstanding Merchant 2009. MOLPay services comply with the global data security standard – Payment Card Industry: Data Security Standard (PCI DSS) – and also, the Malaysian Payment System Act 2003.
In 2011, MOLPay became part of the MOL Global Group, one of the largest Internet companies in Southeast Asia with offices in Malaysia, Singapore, Thailand, Indonesia, Philippines, India, and Australia/New Zealand.
In May 2012, Malaysian Clearing Corporation Sdn Bhd (MyClear), a wholly-owned subsidiary of Bank Negara Malaysia (Central bank of Malaysia) has appointed MOLPay as its non-bank acquirer for its Financial Process Exchange (FPX) service for online merchants. For more info, please visit us at www.molpay.com.