Malaysian users are most likely to use bank cards and alternative payment methods when shopping online, according to a study by yStats.
Despite the fact that in Malaysia online retail accounts for less than 1% of total retail trade, Malaysia is among the TOP 30 global markets that have the potential to develop B2C payments in e-commerce.
Currently, in Malaysia, most online purchases are paid with cash. That being said, the most popular non-cash payment methods are credit and debit cards, as well as PayPal.
It is worth noting that mobile commerce in Malaysia began to gain momentum rapidly. This is primarily due to the growing penetration of smartphones and mobile internet into the daily lives of Malaysian users.
Cross-border online trading is one of the main trends in Malaysia right now. The main destinations for online shopping outside the country are the US, China and the EU. At the same time, the most popular Internet sites are American Amazon, Chinese Alibaba and British Asos.
The study also shows that online auctions, social media shops, classifieds and offer sites are more popular with Malaysian online shoppers than regular online shopping.
As a reminder, in May this year, the Canadian payment service provider hyperWALLET introduced a new direct bank payment service in Malaysia and Chile.
Despite the fact that in Malaysia online retail accounts for less than 1% of total retail trade, Malaysia is among the TOP 30 global markets that have the potential to develop B2C payments in e-commerce.
Currently, in Malaysia, most online purchases are paid with cash. That being said, the most popular non-cash payment methods are credit and debit cards, as well as PayPal.
It is worth noting that mobile commerce in Malaysia began to gain momentum rapidly. This is primarily due to the growing penetration of smartphones and mobile internet into the daily lives of Malaysian users.
Cross-border online trading is one of the main trends in Malaysia right now. The main destinations for online shopping outside the country are the US, China and the EU. At the same time, the most popular Internet sites are American Amazon, Chinese Alibaba and British Asos.
The study also shows that online auctions, social media shops, classifieds and offer sites are more popular with Malaysian online shoppers than regular online shopping.
As a reminder, in May this year, the Canadian payment service provider hyperWALLET introduced a new direct bank payment service in Malaysia and Chile.
