Get early access to 10 untold Malaysian stories: Unboxing eCommerce Entrepreneurs

Maybank2u Pay now powers 25% of Blogshops

June 22, 2013 Adrian Oh Category : , , ,

Maybank announced a payment link product called Maybank2u Pay back in April 2013, which is designed to ease up the payment for Blogshops. It targets to sign up at least 5% of the 3000 Malaysia Blogshops by end of 2013.

Maybank2u Pay

It is unknown to ecommerce.milo how Maybank actually comes out with the figure - 3,000 Malaysia Blogshops. However, at time of this posting, as we counted, there are almost 736 Blogshops which have already registered with Maybank2 Pay. It means Maybank has already secured a 25% market share (out of 3,000 blogshops) in just 2 months time!

Maybank also have a regional plan for Maybank2u Pay, as Maybank ex-CEO, Abdul Wahid Omar (now serving as minister in Prime Minister Department) said Maybank will establish the Maybank2u Pay service locally before expanding it to Indonesia, the Philippines and Singapore next year.

Maybank2u Pay blogshop list

Most Blogshop are started by amateur or part-time sellers. To order from Blogshops, customers normally need to fill up an order form, followed by payment (most popular being online bank transfer) and they will need to email the payment information to the sellers as "proof of purchase" for their orders before sellers ship out products.

The not so convenient part is, customers need to manually key-in the seller's bank account details during the online bank transfer, it can be pretty cumbersome. As for sellers, the online bank transfer's log only shows vague details about the sender information.

Verify payment is challenging

For Blogshops flushed with incoming orders, it will be a pretty hassle job to determine which orders have already been paid and which haven't! See a real example below, 20 to 30 order emails (a lot of which has the same order amount) flowing in per minute as this Blogshop announce new products online!

Blogshop being flushed by manual orders

Maybank2u Pay is designed to make online shopping with Blogshop easier by:

  1. Making the payment process much easier for consumers, without the need to key-in seller's account.
  2. Assisting Blogshop owners in identifying the customers who had actually made a payment and make the reconciliation easier for accounting purpose.

But take note, Maybank2u Pay is not a payment gateway, it is just a special link designed to let anyone to easily make payment to the Maybank2u account holder via recording down the Buyer's Email, Amount & Description of Transaction.

Maybank2u Pay transaction screen

More News on Maybank2u Pay

Maybank2u Pay Official Information


What say you?