With the two services, Malaysian buyers and sellers can now pay and get paid in local currency for domestic transactions, while Malaysian sellers will gain fast access to their funds. Merchants who opt for this online payment system will be charged between 2.5 percent to 4 percent for each transaction.
In June 2009, PayPal revealed its intentions to focus more on encouraging a boost of the e-commerce sector in the Asia-Pacific region, as part of an action plan to increase its transaction value from USD 60 billion to nearly USD 100 billion-USD 120 billion at a worldwide level in 2011. Of the 70 million active PayPal accounts worldwide, PayPal’s Asia Pacific market has more than 12 million accounts, generating USD 4 billion of its online transaction value. In 2008, the company`s total payment volume for Asia Pacific jumped 56 percent to USD 4 billion.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now