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Online payment insights & trends in Malaysia by iPay88

iPay88 has shared the online transaction growth trend in Malaysia, plus the breakdowns of mobile vs desktop, online banking vs credit card, performance by categories etc.

iPay88 (an NTT Data company), the leading payment gateway in Malaysia has released its data insights earlier this year, with payment trends and growth from 2015 to 2018.

Since iPay88 commands a big chunk of online payments in Malaysia, the data serves as a good benchmark for e-commerce trends in Malaysia.

Online payment trends in Malaysia

Below are the insights reported by iPay88:
  • Transaction growth from 2011 to 2018
  • Mobile transaction growth from 2015 to 2018
  • Desktop transaction growth from 2015 to 2018
  • Mobile vs desktop from 2015 to 2018
  • Online banking transaction growth from 2015 to 2018
  • Credit card transaction growth from 2015 to 2018
  • Online banking vs credit card from 2015 to 2018
  • Unique shopper growth from 2015 to 2018
  • Areas (categories) of growth from 2015 to 2018
  • Ranking by transaction volume (2018 vs 2017)
  • Ranking by sales volume (2018 vs 2017)

Transaction Growth (2011 to 2018)


iPay88: Transaction Growth from 2011 to 2018

Total transactions (number of orders) via iPay88 were 52+ million in 2018 million which amounted to a total sales volume of RM7 billion.

The number of transactions almost doubled from 28+ million in 2017. while total sales volume has grown about 68% from 2017.

Mobile Transaction Growth (2015 to 2018)


iPay88: Mobile Transaction Growth from 2015 to 2018

In January 2015, there were only 193,000 transactions via mobile phones.

By December 2018, mobile transactions have skyrocketed to 5.1 million transactions, 26x growth in the space of 4 years!

Desktop Transaction Growth (2015 to 2018)


iPay88: Desktop Transaction Growth from 2015 to 2018

In stark contrast to the growth in mobile payments, transactions via desktop stagnated between 600,00 to 1 million from 2017 to 2018.

Mobile vs Desktop (2015 to 2018)


iPay88: Mobile vs Desktop from 2015 to 2018

As you can see from the chart above, mobile has officially overtaken desktop since Q2 2016 as the preferred device for online payments in Malaysia.

Online Banking Transaction Growth (2015 to 2018)


iPay88: Online Banking Transaction Growth from 2015 to 2018

As expected, online banking enjoys steady growth over the years. While the total online banking transactions were 13.8 million in Q4 2018, with close to 5 million transactions recorded in December 2018 alone.

Credit Card Transaction Growth (2015 to 2018)


iPay88: Credit Card Transaction Growth from 2015 to 2018

As opposed to 13.8 million for online banking in Q4 2018, there were only 3.5 million credit card transactions during the same period, with around 1.2 million transacted in December 2018.

Online Banking vs Credit Card (2015 to 2018)


iPay88: Online Banking vs Credit Card from 2015 to 2018

While online banking seems to be far greater than credit card transactions above, you might want to take note that credit card transactions of e-marketplaces like Shopee do not go through iPay88.

"It is more like 60% online banking vs 40% credit card, if we exclude data of those merchants who we only offer online banking facilities," says Chong Lee Kean, Business Director of iPay88.

Unique Shopper Growth (2015 to 2018)


iPay88: Unique Shopper Growth from 2015 to 2018

There were close to 2 million monthly unique shoppers in Malaysia who paid through iPay88 back in December 2018, a substantial increase from the previous year.

Areas of Growth (2015 to 2018)


Marketplace, Telco Service


iPay88: Areas of Growth - Marketplace, Telco Service

Accommodation, Transportation, Advertising Services, Food & Beverage


iPay88: Areas of Growth - Accommodation, Transportation, Advertising Services, Food & Beverage

Travel, Healthcare, Government, Gift


iPay88: Areas of Growth - Travel, Healthcare, Government, Gift

Here's the growth rate from 2017 to 2018 by each category:
  • Marketplace: 71% 🥉
  • Telco Service - Bill Payment: 36%
  • Accommodation: 45%
  • Transportation: 38%
  • Advertising Services: 50%
  • Food & Beverage: 75% 🥈
  • Travel: 33%
  • Supplement & Healthcare: 336% 🥇
  • Government: 22%
  • Gift & Merchandise: 69%

Ranking by Transaction Volume (2018 vs 2017)


iPay88: Ranking by Transaction Volume (2018 vs 2017)

Which categories have the most transaction volume in 2018?
  1. Marketplace
  2. Telco Service - Bill Payment
  3. Virtual / Instant SErvices (VOIP, SMS, Prepaid, Top-up)
  4. General Ticketing
  5. Transportation
  6. Gift & Merchandise
  7. Apparel & Fashion
  8. Games & Toys
  9. Subscription / Membership
  10. Food & Beverage


Ranking by Sales Volume (2018 vs 2017)


iPay88: Ranking by Sales Volume (2018 vs 2017)

Which categories have the most sales volume in 2018?
  1. Marketplace
  2. Virtual / Instant SErvices (VOIP, SMS, Prepaid, Top-up)
  3. Telco Service - Bill Payment
  4. Education Service / College / University
  5. Personal & Skin Care
  6. Apparel & Fashion
  7. Subscription / Membership
  8. Accommodation
  9. General Ticketing
  10. Professional / Consultancy Services

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ecInsider: Online payment insights & trends in Malaysia by iPay88
Online payment insights & trends in Malaysia by iPay88
iPay88 has shared the online transaction growth trend in Malaysia, plus the breakdowns of mobile vs desktop, online banking vs credit card, performance by categories etc.
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