iPay88 Online Payment For E-Commerce

On August 4, 2010, Bernama.com reports that revenue generated by e-commerce transactions in Malaysia is expected to surge during 2010, reaching USD 29.24 billion compared to USD 22.15 billion in 2009, estimated will grow about 32%. Majority contribution is made by the airlines, travel and financial sectors. However, SME could also prove some e-commerce drive potential, since e-commerce adoption would be an important strategy for their worldwide businesses expansion.

Btimes.com.my reports that Malaysia’s e-commerce industry is expected to increase by 20 - 30 percent annually in the next three to five years.

The readiness of infrastructure, the availability of online services, the broadband maturity and a strong awareness of e-commerce are the main factors which will contribute to such a boost, according to Wei Chuan Beng, the chairman of the National ICT Association of Malaysia (Pikom) chairman, cited by the same source. Wei Chuan Beng urges financial institutions to lower the fees of e-payment, in order to encourage the e-commerce activity in the country.

In 2010, the e-commerce sector is expected to jump by 32 percent to USD 29.24 billion.