PPRO Payments, has strengthened its market coverage of Malaysia with the integration of major e-wallets GrabPay and Touch ‘n Go on its payments infrastructure.
PPRO now offers all of Malaysia’s most popular, independent e-wallets – Boost, Touch ‘n Go and GrabPay – to its partners which include enterprises with payments platforms, payment service providers, fintechs and banks.
Through PPRO’s seamless integration, these partners can supercharge their revenue by gaining direct access to Malaysian consumers who spend an estimated $3.8bn a year when making cross-border transactions.
An Lu, Head of Market Development, APAC, at PPRO, said: “Digital payments are second nature to Malaysia’s highly mobile-enabled population and for enterprises with payments platforms looking to break into new market segments and grow new cross-border revenue, the Malaysian market must not be overlooked.
“In order to increase customer conversion from Malaysia, enterprises need to understand their customers’ preferences at checkout. PPRO has built an extensive Malaysian payments offering on its infrastructure and is well-primed to enable payment service providers, fintechs and banks to drive cross-border transactions in this fast-growing market.”
According to research by Statista, e-wallets GrabPay and Touch ‘n Go are both expected to see their user number double from 2020 to 2025. Enterprises with payments platforms looking to tap into or grow their presence in the Malaysian market, enabling consumers to conveniently transact using their e-wallets via their mobile devices is a smart move, suggests PPRO. This will grant them access to the 83% of Malaysia’s population that have access to a smartphone.
The rapid acceleration of the use of e-wallets in Malaysia comes at a time when the government has placed significant focus on digitising the country’s economy through the launch of the e-Pemula initiative to drive the cultivation of cashless transactions. Last year, PPRO announced that it had achieved unicorn status after raising US$180 million from Eurazeo Growth, Sprints Capital and Wellington Management.