Leading payment gateway provider iPay88 incentivizes eTailers and Merchants in bid to support country’s largest online sale event.
Kuala Lumpur, 24 AUGUST 2017 – iPay88 Sdn Bhd (‘iPay88’), an NTT Data company – Malaysia’s leading online payment gateway provider in Asia, announces that it will be the Premier Payment Gateway Partner for the country’s annual #MYCYBERSALE.
#MYCYBERSALE 2017 is Malaysia’s 4th annual online sale – the biggest one to be held yet, in a round-the-clock marathon event from the 9th to 13th October 2017.
Themed Catalyzing Micro Enterprises and Global Trade, #MYCYBERSALE 2017 is returning with a larger magnitude and scale with at least 1,000 participating eTailers and merchants.
#MYCYBERSALE 2017 – a collaboration between Malaysia Digital Economy Corporation (MDEC) and PIKOM, The National ICT Association of Malaysia and the ‘Voice of the ICT Industry’ – aims at providing a platform to lure SMEs and micro eRetailers to be part of the eCommerce ecosystem and contribute to the domestic and export revenue.
Executive Director of iPay88, Chan Kok Long shares, “This five-day sale event will be another record breaking year for online sales with the target of RM300 million set out by The National ICT Association ‘PIKOM’ – which is the main organizer of this virtual sale this year.” Chan is also the Councillor and eCommerce Malaysia Deputy Chair for PIKOM.
During the #MYCYBERSALE sales period in 2016, iPay88 recorded a significant spike of 65 percent in cyber shopping transactions via its payment gateway systems, from RM21.6 million in 2015 to RM35.6 million in 2016. Amongst the popular purchases were Accessories & Jewellery (over RM12.5 million), Apparel & Footwear (over RM1.5 million), and Group-Buying (over RM450,000).
A flurry of local Malaysian eMerchants and eRetailers across sectors are expected to take the opportunity to participate in #MYCYBERSALE 2017 to market their brands worldwide. They include categories from Electronics, Fashion, Baby and Kids, Travel, Health and Beauty, Home and Living, Food and Beverage, Wellness Services, Home Appliances and Sporting Equipment.
This year, backed by iPay88 as the trusted payment gateway provider, #MYCYBERSALE 2017 will also see participation of key marketplace players apart from the support of partner associations such as Malaysian Retail Chan Association (MRCA), SME Association, Malaysian Wholesale Federation and The Associated Chinese Chamber of Commerce & Industry of Malaysia (ACCCIM), as well as logistics and fulfillment providers.
Incentivizing Local eTailers & Merchants
In a bid to encourage the participation of more small- and medium-sized enterprises (SMEs) merchants in this online sale event, as one of the main sponsors, iPay88 is providing an investment worth more than RM500,000 that cover complementary merchant promotions during #MYCYBERSALE 2017 sales period. Subject to terms and conditions of the promotions: –
- Cash prizes of RM3,000, RM2,000 and RM1,000 for the top three merchants (excluding marketplaces) with the highest number of successful transactions; and
- 0.5 percent cash rebates will be given for successful transactions.
iPay88’s motivation is to grow the local eCommerce industry and bringing the eco-system together to embrace and grow the digital economy.
“To further help drive participation of more new SMEs at this online sale event, be-tween 1st August – 31st October 2017, 50 percent of setup fee will be discounted on new SME package sign-ups or new product sign-ups (with exception for mPOS and Alipay Barcode Payment). Micro eRetailer enterprises and SMEs should not miss the opportunity to be part of this significant event.” ends Chan.
Merchants can register their interest to participate through iPay88 before 31st August 2017. More information on the #MYCYBERSALE 2017 campaigns, timeline and eligibility, can be found on www.ipay88.com