Stay in the loop
Sign up for event alerts, as well as insights from our experts.
PPRO, the leading provider of digital payments infrastructure, 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 USD3.8 Billion a year when shopping cross-border.
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. For 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, which will grant them access to the 83% of Malaysia’s population that have access to a smartphone.
On PPRO’s bolstered presence in the Malaysian market, 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.”
Super app Grab’s e-wallet, GrabPay, has an ecosystem of over 25 million transacting users, which means that enterprises which are able to offer GrabPay at the checkout can access a large pool of Malaysia’s population. Consumers use the GrabPay app for a variety of purchases both in-store and online, from fund transfers, to food delivery and ride hailing services. Alongside GrabPay, Touch ‘n Go has been prevalent in leading Malaysia’s digital transformation, as it has shifted from being a road toll payment method, to now having a user base of 16 million consumers who use it daily for a variety of online purchases.
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, of which both GrabPay and Touch ‘n Go are involved, and MyDIGITAL under the Malaysian Digital Economy Blueprint.
Last year, PPRO announced that it had achieved unicorn status after raising US$180 million from Eurazeo Growth, Sprints Capital and Wellington Management. Earlier this year, PPRO announced the acquisition of Alpha Fintech, a next-gen payments technology company, in a deal that will expand PPRO’s offering, and strengthen its presence and networks in the Asia Pacific region.
Here’s some other content you might be interested in.