Molpay

MOLPay Sdn. Bhd.
Type Public
Founded Malaysia (June 2005)
Headquarters Shah Alam, Selangor,
Malaysia
Area served Southeast Asia
Founder(s) Eng-Sheng Guan
Oon Wee Keong
Tek Jau Tan
CEO Eng-Sheng Guan
Revenue US$1.0 million (2015)
Owner MOL AccessPortal
Website www.molpay.com/v3/
Advertising Yes
Registration Optional
Available in Multilingual
Current status Active

MOLPay, established in 2005, is a Malaysian payment gateway company that provides an online payment system and mobile paymentservices. MOLPay is a 3rd party channel for securing online transactions guided by the The Payment Card Industry Data Security Standard (PCI DSS) protocol. Prior to changing its name in 2011, the company was known as NBePay.

In 2011, MOLPay becomes part of the MOL Global Group, which had its IPO in 2014. MOLPay is one of the largest e-payment enablers for online goods and services in Southeast Asia by payment volume, according to a report by Frost & Sullivan.[1] As of October 2012, MOLPay has online payment channels in Malaysia, Singapore, China, Philippines, Vietnam, Australia, Thailand, and also Indonesia.[2]

History

MOLPay is originally established in 2005 as NBePay,[3] an online payment collector service that was part of e-commerce company NetBuilder. In June 2011, a joint venture between NetBuilder and MOL AccessPortal was formed, with NetBuilder owning 49% and MOL AccessPortal owning 51%.[4] Later in 2011, NBePay is officially renamed as MOLPay, with the three founders retained as chief executive, operating and technology officers.[5]

Availability

Molpay can be implemented by businesses that are based on the online payment channels that MOLPay supports, such as Malaysia, Singapore, China, Philippines, Vietnam, Australia, Thailand, and Indonesia. MOLpay can accept payments from more than 100 currencies.[6] With MOLPay focusing its business in Malaysia, its services have been used by over 2,500 merchants as of May 2012.[7]

Services

As of August 2015, MOLPay's platform comes with an API, which are supported with PHP and js programming language.[8] MOLPay also permits user to charge recurring payment in regular intervals.[9] In 2014, MOLPay adopted tokenization technology to store credit card details for single-click checkouts.[10] MOLPay partnered with BCARD on November 2013 to create a free loyalty program for online shoppers.[11]

As of May 2014, MOLPay has been linked with 1600 7-Eleven stores.[12] In July 2015, MOLPay added 900 Petronas stores to its physical channels.[13]

References

  1. ↑ Francis Gaskin. "Mol Global IPO: Neutral Rating". Investing.com. Retrieved 29 July 2015.
  2. ↑ "Online Payment Channels".
  3. ↑ "molpay exabytes partnership".
  4. ↑ "MSC status process comes under scrutiny over MOLPay application".
  5. ↑ "MSC status process comes under scrutiny over MOLPay application".
  6. ↑ "Online Payment Channels".
  7. ↑ "Bank Negara subsidiary selects MOLPay to manage e-commerce".
  8. ↑ "MOLPay launches multi-currency processing platform for merchants".
  9. ↑ "MOLPay Booklet" (PDF).
  10. ↑ "how online payment can help jmb".
  11. ↑ "Payment Service Provider MOLPay launches Loyalty Programme in Malaysia".
  12. ↑ "Malaysia's MOL part of 7-Eleven in-store services boost".
  13. ↑ "Malaysia Retail Network".
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