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    Home Brand Stories Cross-border Commerce Showcase 5 Ways to Handle Transaction with Local Payment Methods in Malaysia

5 Ways to Handle Transaction with Local Payment Methods in Malaysia

Cross-border Commerce
September 2, 2019

The common pain points for most cross-border commerce merchants are language barriers, ineffective logistics services, and lack of payment methods that are tailored to local shopping behaviors, all of these issues have to be solved in order to complete a successful transaction. The checkout process is the final step to complete an order, and research has shown that over 56% of consumers would appreciate if online sellers could provide multiple, and versatile payment methods. 

The checkout process is usually where visitors would bounce and leave your website. To lower cart abandon rates and to secure visitors for your business, in this article, we will cover 6 common online payment methods that are popularly used in Malaysia. 

Understand 5 Common Payment Methods in Malaysia to Optimize the Shopping Process

1. Online Transfer (Online Banking / FPX)

Online transfer is popular among Malaysians. Through 3rd party payment gateway services like MOLPay, consumers can choose the bank account they are transferring money to. By entering your own payment information of current or savings account, you’re able to make a real-time online payment. For shoppers who don’t have a credit card yet, this is a great and easy way to complete a purchase.

 

Choose the bank you’re about to transfer to.

2. ATM Transfer

This payment method allows customers to pay either at a physical ATM location or make transactions online via a smartphone APP—JomPAY. By using JomPAY, the order status will update automatically once the transaction is done. However, if buyers choose to transfer payment at a physical ATM location, the transaction would require a manual update from the merchants to confirm they received the payment, which requires more time and cost on communication. 

3. Credit Card

The easiest way for buyers to complete an online transaction, simply type in the required information to complete the order. 

4. Cash

Shoppers can print out the billing invoice and pay at any given 7-11 locations. 


5. Cash On Delivery

In Malaysia, convenience store location isn’t as dense as they were in Taiwan, where people in Taiwan are used to pick up their packages in convenience stores. 

So, a lot of consumers in Malaysia would choose cash on delivery, where they pay upon delivery. 

Receive Money Easily in Malaysia with SHOPLINE’s Payment Gateways Integration!

SHOPLINE has partnered with MOLPay, the leading Southeast Asia Payment Gateway, to provide a payment solution for all cross-border merchants. By working with MOLPay, shoppers in Malaysia can easily purchase your products with various payment methods, such as FPX / Online banking, ATM Transfer, Credit Card, Cash on Delivery, and more. At the same time, Shoppers can pay in cash for their orders in over 23,000 convenient stores across Malaysia, Singapore, and Indonesia. 

SHOPLINE merchants can enjoy all the benefits offered by integrating with MOLPay, and save time on reconciling financial statement. Moreover, with MOLPay, merchants can easily receive local currency in their bank account. 

Conclusion

Although e-Commerce is relatively easy to perform cross-border commerce. However, online merchants may also face two main pain points in payment gateway integration, and logistics methods integration. 

With SHOPLINE’s Cross-Border solution, merchants are able to enjoy the benefits of expanding to bigger marketing and create more sales opportunities.  

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SHOPLINE retains copyright to individual articles. For any use of reference, quote, repost and more requires permission from SHOPLINE.

Related Articles

  • Malaysia—The Next Cross-Border e-Commerce Promise Land
Weiyi
Weiyi
Marketing Associate at SHOPLINE. A digital marketing nerd and a podcast fan. You can find her out in the woods once in a while but most of the times she’s glued to her laptop screen indoors.

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