iPay88 Sdn Bhd (iPay88) recorded 38.2 million online transactions last year via its payment gateway systems, for a 161 per cent increase, from the 14.6 million in 2015.
Executive Director Lim Kok Hing said despite the perceived sluggish overall economy, there is solid evidence that Malaysians are purchasing from online platforms more than before.
"We would have thought that consumers are tightening belts due to a squeeze in their disposable income with the current economic 'winter'.
"However, iPay88's payment system proves that e-commerce and online purchases rose by 210 per cent over the same comparable period," he said in a statement today.
This is in line with the company's findings on Malaysian's Online Buying Patterns, derived from the statistics collected via iPay88 payment gateway systems, which currently represents over 70 per cent of the nation's e-commerce market.
Lim attributed the high volume of online transactions to the convenience of shopping online, as well as the ability to get better deals on the Internet.
Meanwhile, in the first quarter 2017, Lim said online payments and transactional data in Malaysia, showed no waning of interest on online purchases and spending trends.
"Among popular online purchases are apparel and footwear, accessories and jewelry, electronics and sports equipment, each with recorded sales of RM25.3 million, RM1.7 million, RM5.1 million and RM3.3 million respectively," he added.
iPay88 is an NTT Data company and Malaysian-based leading provider of online payment service solutions within ASEAN. -- Bernama
Bernama
Wed Apr 12 2017
Lim attributes the high volume of online transactions to the convenience of shopping online, as well as the ability to get better deals on the Internet. Photo for illustration purpose
Zii Jia pulls out of Swiss Open due to injury
Malaysia's men's singles shuttler Lee Zii Jia has withdrawn from next week's Swiss Open due to a recurring right ankle injury.
MCMC probes man for uploading fake content on social media
A 47-year-old Malaysian man is being investigated for allegedly uploading fake content that touches on the 3R (religion, race and royalty) on social media.
KPDN calls on public to help report bottled cooking oil shortage
The Ministry of Domestic Trade and Cost of Living (KPDN) has urged the public to be the eyes and ears of the ministry and report shortages of bottled cooking oil in their areas.
ICJ to hold public hearings on Israel's obligations in occupied Palestinian territory
The International Court of Justice will hold hearings next month on Israel's obligations towards Palestinians, Anadolu Ajansi (AA) reported.
Anwar: Sapura Energy's rescue plan excludes former shareholders
Prime Minister Datuk Seri Anwar Ibrahim said Sapura Energy Bhd's (SEB) former major shareholders are no longer involved in the company's management as part of its restructuring efforts.
Intel names Lip-Bu Tan as new CEO
Intel Corporation (INTC.O) has appointed semiconductor Malaysian-born industry veteran and former board member Lip-Bu Tan as its new CEO.
Ismail Sabri at MACC HQ to give statement
Former Prime Minister Datuk Seri Ismail Sabri Yaakob was at the Malaysian Anti-Corruption Commission (MACC) headquarters here today to give his statement
Duterte could face up to 30 years or life imprisonment if convicted by ICC - Malacanang
Former Philippines President Rodrigo Duterte could face up to 30 years or life imprisonment if convicted of crimes against humanity by the International Criminal Court (ICC)
Clarification on the investment in Sapura Energy by MDH
Permodalan Nasional Berhad (PNB) as the existing significant shareholder of SEB.
Floods recede in Beaufort, but residents remain wary of downstream water flow
While floods in Beaufort are receding, residents remain on alert for downstream water flow that could bring floodwaters from inland areas.
Govt to ensure establishment of SEGiM aligns with introduction of Gig Workers Bill
The government intends to ensure that the establishment of the Malaysian Gig Economy Commission (SEGiM) is in line with the introduction of the Gig Workers Bill.
UK steel industry warns of damage as Trump tariffs come into force
US President Donald Trump's tariffs on UK steel "couldn't come at a worse time," the industry has warned as the levy on US imports is introduced, reported PA Media/dpa news.
Penang allocates RM49.45 million for Phase 1 of i-Sejahtera Programme
The Penang government has allocated RM49.45 million for 274,151 recipients under Phase 1 of the i-Sejahtera Programme this year.
PM Anwar calls on all parties to be agents of unity, help unite people of different races
Prime Minister Datuk Seri Anwar Ibrahim has called on all Malaysians to join hands to become agents of unity and assist the MADANI Government in its efforts to unite all Malaysians
Women representation in senior management fall to 36.2 pct in 2025
The Grant Thornton Women in Business Report reveals a concerning decline in the representation of women in senior management positions in Malaysia.
Singapore Airlines prohibits usage, charging of power banks from April 1
Singapore Airlines (SIA) passengers will not be allowed to use power banks or charge them throughout their flight effective April 1.
Captain of cargo ship arrested over fatal collision in North Sea
The cargo ship captain involved in the North Sea's deadly collision has been arrested on suspicion of gross negligence manslaughter.
No plans to follow us in repatriating illegal immigrants - KDN
For the period up to March 9 this year, the total number of deportations from Immigration depots was 9,199 people.
Air pollution responsible for nearly 7 million deaths annually worldwide
A report by the World Air Quality Index indicated that only 17 per cent of cities worldwide meet the recommended air quality standards.
At least 137 Gazans killed in Israeli attacks since ceasefire
According to the Euro-Mediterranean Human Rights Monitor , Israel has been killing an average of seven Palestinians every two days.