Photo - Raj Lorenz, Chief Executive Officer, GHL Systems Berhad.
According to payment solutions firm GHL Systems, Malaysian sellers and businesses can generate more online business by offering a wider range of cashless payment options.
GHL Systems Group chief executive officer, Raj Lorenz said, "Various studies show that when online shoppers are given other than cash payment options, they are more likely to make impulse purchases and spend more per purchase. This will help online sellers increase their conversion rates, generate sales and overall revenue."
Lorenz said to help the Malaysian e-commerce industry, GHL recently launched its internet payment service - eGHL - to allow local businesses to offer their customers more payment options including FPX, MasterCard, Visa, Malaysian banks, internet banking payments, MCash, UnionPay and Alipay."
"eGHL is governed under Malaysia's Financial Services Act 2013," he said. "Online sellers should take this opportunity to start accepting online card payments for their online stores. With eGHL, there is zero upfront cost. Also, the transaction fee is especially low at 2.8 percent. This is a great opportunity, that won't last forever, for online merchants to embrace online payments as a total solution for their customers."
"According to recent payment statistics published by Bank Negara Malaysia, the number of credit cards in circulation in Malaysia was 8.1 million as at June 2014," added Lorenz. "By accepting online credit card payments, merchants will be more easily able to access this mass segment of the population."
"Online credit card payments also increase consumer confidence with regard to your online store," he said. "Customers may be unsure about online stores that they have had no prior shopping experience with. The fraud protection offered by credit card companies to cardholders alleviates these concerns."
Lorenz said as some new online sellers may baulk at online card payment fees, GHL Systems will offer a special incentive as part of the company's support of MYCyberSALE, which is the country's first and biggest cyber sale, to be launched by the national ICT agency Multimedia Development Corporation [MDeC].
MyCyberSALE will be held from 29 September to 10 October 2014 and online sellers can subscribe for eGHL's online payment service at zero one-time signup fee and zero yearly fee until 30th September 2014.
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