Malaysian Ecommerce Market Is Soaring

Malaysia's ecommerce market is “soaring”, according to new findings. Executive director of regional payment gateway iPay88, Chan Kok Long, said that the information was based on data from its online payments, which represent 70% of all online payments made in the country. Chan added that two things had improved “user confidence” in the country: increased ease of online banking and spending, and a change in online behaviour towards expensive items. iPay88 is also working with NTT Data to approve personal loans for customers “based on their online shopping history”, in order to emulate “what Alibaba has been doing”. Due to the loans being approved, online shoppers are now buying more expensive items such as cars, which data shows users are now more comfortable spec'ing up online.