MOLPay, an online payment solutions provider in Southeast Asia, will partner with 7-Eleven Malaysia, the country’s largest convenience store chain, to launch a new payment option for e-commerce.
new service, named MOLPay CASH, will roll out initially at
selected 7-Eleven stores throughout the Klang Valley. Currently, a total
of 735 stores offer this payment option and more stores will be joining
soon. By July 2014, all 1,569 stores in Malaysia will be providing this
MOLPay CASH, merchants can offer the option of accepting
cash from their customers through the nearest 7-Eleven outlet. A barcode
is generated when the online sale is made, and customers use the
barcode to pay at a 7-Eleven outlet. The merchant is notified of
the payment in real time when payments are made through MOLPay.
co-Founder and CEO Eng Sheng Guan noted that MOLPay CASH offers a
fraud-free and convenient way to pay cash for online transactions while
who do not have bank accounts or credit cards, as well as credit card
holders who may want more control over their credit management to purchase goods and services online. The
ubiquity of 7-Eleven stores and their 24-hour operations make payment
extremely convenient as well.
potential popularity of this payment method is very high. Nielsen’s
Global Saving and Investment Strategies announced earlier this year that
60% of Malaysians prefer cash payment. The percentage is even higher in
the Philippines (74%), Thailand (68%) and Vietnam (61%).