Visa Checkout Launches in Malaysia to Simplify Online Shopping
Maybank is first financial institution to bring Visa Checkout to consumers and retailers across Malaysia
To build on the global success of Visa Checkout, Visa today announced the launch of Visa Checkout in Malaysia. Visa Checkout is a fast and easy payment service that allows Malaysian consumers to pay for goods online, on any device, in just a few clicks. This new service addresses the frustration experienced by many online and mobile shoppers by reducing the number of steps required to complete a purchase online.
Malaysia has high smartphone penetration (71 percent) and an active online community that spends on average four hours daily using the internet1. Sixty seven percent of Malaysians shop online at least once a month, an increase from 53 percent in 20142. However, despite the high rate of browsing, 81 percent of online shoppers in Malaysia have abandoned a purchase because it took too much time to complete the payment process3. The top three categories for abandoned purchases are bill payment and fines (11 percent), fashion and accessories (nine percent) and movie tickets (nine percent)4.
“More and more technology has become a significant part of Malaysians’ everyday lifestyles, including shopping online and on mobile devices. Visa Checkout is designed to improve the digital shopping experience by making the payment process fast and secure – reducing the number of steps required to complete an online purchase. We have partnered with several key merchants in Malaysia as part of our launch and we’re confident consumers will embrace Visa Checkout across all their devices,” said Mr. Ng Kong Boon, Visa Country Manager for Malaysia.
Maybank is the first bank in Malaysia to enroll Visa cardholders for the service and offer Visa Checkout acceptance to merchants across the country.
“Maybank continues to showcase several first-in-market products and solutions in Malaysia in partnership with Visa. Visa Checkout allows our cardmembers to shop online with just a simple two-click process during checkout. Not only are we the first issuer to partner with Visa in Malaysia, we are also the first acquirer to introduce Visa Checkout to our merchant customers,” said Maybank Group Head of Cards & Wealth, Mr. B Ravintharan. “With more consumers increasingly going online to make purchases, this collaboration not only delivers a better experience for consumers, but also helps our merchants to increase the number of successful transactions made online.”
Easier Way to Pay
Visa Checkout is a streamlined checkout experience that is intuitive to use and saves shoppers time. Users simply enter a username and log-in to pay, rather than a 16-digit credit card number and expiry date at every transaction. Online purchases can easily be completed on any connected device.
Visa Checkout is now accepted at a wide variety of online merchants in Malaysia, including GSC Cinema, Superbuy.com, SweetSpot Digital, Little Whiz, Twenty3, Avenue86, and CUTI.
Mr. Irving Chee, General Manager of Golden Screen Cinemas Sdn Bhd, said: “With Visa Checkout, GSC customers can enjoy greater convenience and discounted prices of RM8 per normal cinema ticket when they pay online using their Visa cards from 11 March to 3 June 2016. Visa Checkout is currently available in our online ticketing and will be extended to the GSC Mobile App in the future.”
Mr Chandran Rama Muthy, CEO of Malindo Air, said: “We are excited to unveil the Visa Checkout service in a series of improvements to our digital platforms. This new user-friendly service is designed to help customers to make a quick and easy payment in their online ticket purchase. We look forward to bringing more functionalities to our digital platforms in order to make our guests’ journey with Malindo Air a remarkable travel experience. We already have in place a new flight booking engine and our mobile app, to offer easy access to flight booking and all travel related information while on the go."
Visa and our key merchants are pleased to bring the following special offers to Visa Checkout users:
Special Offers With Visa Checkout*
Visa Checkout customers enjoy normal movie tickets at a flat fee of RM 8 (maximum of 6 tickets per Visa card per transaction)
Receive a RM50 discount code for subsequent purchases when you purchase Malindo Air flight tickets or holiday packages with minimum transaction of RM250.
*Terms and conditions apply.
Since its launch in 2014, more than 11 million Visa Checkout accounts have been created. More than 250,000 large and small merchants and 600 financial institution partners from around the world offer Visa Checkout.
Visa Checkout is available in 16 markets around the world. These include: Australia, Argentina, Brazil, Canada, Chile, China, Colombia, Hong Kong, Malaysia, Mexico, New Zealand, Peru, Singapore, South Africa, United Arab Emirates, and the United States. By the end of 2016, it will also be available in France, India, Ireland, Poland, Spain and the United Kingdom.
In Malaysia, the following banks are currently live for Visa Checkout enrolment: Maybank, Public Bank, BSN, Bank Islam, Alliance Bank, AmBank and AmBank Islamic, Standard Chartered Bank and Hong Leong Bank. Citibank, RHB Bank, HSBC and UOB will also be launching their enrolment pages for cardholders shortly.
All Malaysian Visa cardholders can sign up for Visa Checkout through a participating bank, or merchant checkout page or directly at www.visacheckout.com.my
1 eCommerce Monitor 2015
2 Visa Consumer Payment Attitudes Study 2015
3 eCommerce Monitor 2015
4 Visa Consumer Payment Attitudes Study 2015
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit, or set rates and fees for consumers. Visa's innovations; however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit www.visa.com.my
Appendix 1: Additional quotes from merchants
Richard Tan, Managing Director Interbase Resources Sdn Bhd: "Superbuy is honored to be among the first merchants in Malaysia to offer Visa Checkout. We strive to enhance our customers’ online purchasing experience and we believe by launching Visa Checkout our customers will enjoy faster, secure transactions with no hassle."
Yau Su Peng, Director, Retail Marketing Berjaya Corporation Berhad and Director, SweetSpot Digital (Malaysia) Sdn Bhd: “I am delighted that Visa has chosen to collaborate with SweetSpot Mobile App. This partnership promises to deliver more to those who choose Visa when they pay or redeem via SweetSpot. Incorporating Visa Checkout gives our users the ability to purchase securely and practically instantaneously so that those ‘I want it and I want it now’ moments are not lost, but instead can be quickly acted upon. Visa Checkout is only the beginning, by ensuring that the new customer journey is as frictionless and convenient as it can be."