iPay88 And MOLPay Online Payment Gateway Sharing @ The Canvas Malaysia Experience

During the afternoon, I requested Uber driver to The Canvas Malaysia to attend the SITEC eCommerce Class which shares about the Payment Gateway option in Malaysia. Well, the Uber driver arrived around 1.30pm with Nissan Almera car upon confirmation request as below.
The driver is polite and drive me all the way from Gloria Jeans Coffee Plaza Sentral to The Canvas Malaysia located at Damansara Perdana, Petaling Jaya as below.
It cost about RM18 but I ride it for FREE since I have been promoting my uberfood88 code since last year November as below.
Upon arrival at 1.50pm, I just took some picture around as below.
This event is organized by Selangor Information Technology E-Commerce Council (SITEC) 電子商務課程 and supported by Invest Selangor government just like Invest Penang project.

The agenda of the event is stated as below.
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2:00pm: Regisration
2:10pm: SITEC Introduction (KP Yong SITEC Council Member)
2:15pm: Third Party Payment Gateway in Malaysia (Adrian Oh, eCommerce.Milo)
2:30pm: MOLPay  (John Lim, Head, Business Development)
2:45pm: iPay88 (Mr. Chan Kok Long, Executive Director of iPay88)
3:00pm: Coffee Time
3:15pm: Forum moderate by Adrian (MOLPay, iPay88) + Q&A
3:55pm: Group Photo
4:00pm: END
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Mr Yong become the first speaker and introduce the background of SITEC.
After that, Mr Adrian Oh introduce himself and his background as below.
I like the story shared by him about selling aircond online back in the olden days and it is true that sometime the "success" is all about TIMING in someway. After that, he briefly shared the information about What is Payment Gateway, CPT vs CNPT, how to pick your payment gateway and it is true that Selling online is all about building trust! with others related info as below.
Besides, it is important to have 3D Secure in your online payment option in order to avoid other people misuse your credit card as below.
What I know about 3D secure is you will receive one time password (OTP) code or an SMS text message send to your mobile phone when you do online transaction.

Furthermore, it is essential to have "Payment Card Industry Data Security Standard" (PCI DSS) for payment gateway in Malaysia so that they can handle various type of  credit card such as Visa, MasterCard, American Express, Discover, and JCB according to Wikipedia. After that, Mr John Lim, Head, business development of MOLPay start to introduce his company as below.
Apparently I had listened to his sharing while I was in "Boost Your E-Commerce Skill Seminar" for MYCyberSALE 2015 event last month. Well, MOLPay offered a lot of different payment features as below.
At the end of the presentation, they offered FREE Account for merchant as below.
Personally I felt it is overselling the advantage of using Molpay features and so far I seldom use the 7 Eleven and Bcard reward points feature as mentioned.

The next presenter is Mr Chan, Executive Director of iPay88, shared something extraordinary as below.
His presentation style is a bit different from MOLpay presenter as it is more into sharing and provide value to the audience. There are 4 things that he wish the audience can takeaway and below is all the slides.
Below is his four points.
1) Understand the payment gateway industry in the e-commerce industry.
2) Understand generation Y, Z and so on. Whatever you do, think of their behavior. Generation X is changing. We want you to succeed in your business.
3) When you need an online payment gateway in Malaysia, think about iPay88.
4) Continue be advisory position for MDEC / Magic / SME when he retire.

It is quite touch when he shared that he came from a very poor family background and want to contribute back to the society. He do encounter the down moment before like looking up the sky wondering "Why I ended up like this" during his startup time. Anyways, it is good to seek him for advice in business as he have a lot of business experience advice from over 8,000+ merchant and certain business just need to change a bit their business model. One of the tips that shared by Mr Chan is to Find Your Niche if you want to be successful in Malaysia. It is because it is so hard to duplicate another marketplace like Lazada / Zalora / 11street / Rakuten and others partly because they have deep pockets to "burn" money on advertising. Sometime it is good to start small and do something you like. For instance, Christy Ng Shoes founder had managed to make it to the top by having her own brand specializing in ladies fashion shoes.

Around 3.20pm is the coffee break session and we have some sandwich with drumstick as below.
The event resume with forum moderate by Adrian for (MOLPay, iPay88) and Q&A session as below.
The first question by Adrian is about how to get cheaper transaction fee for merchant. I'm agree with Mr Chan sharing about "Free thing is not necessary good, good thing not necessary free" statement because behind a payment gateway company, there is a lot of handle from operation, IT, sales and much more. If a company can provide everything for FREE, would you doubt on how the company generate revenue to pay their employee in order to provide a better service right? On the other hand, Mr John had shared a very good insight that the migrant worker from Bangladesh and other country is a good opportunity to make money as they have purchasing power too. Their effort to work hard had make them manage to get good amount of salary like RM5,000+ per month as someone shared.

The second question is about cash on delivery payment method. Mr Chan shared that the cancellation in Indonesian is as high as 70% and he learn through experience by seeing the value behind. The bank will rate you badly if you have a high charge back and cancellation. In addition, Visa Master might blacklist you if you have high dispute rate. Sometime it is depend on the culture of a country such as 60% of Indonesian people don't have bank account. As for Mr John, he is more into sharing on how can you increase the buying frequency of consumer and focused on BCard loyalty program. One of the audience asked about Bitcoins and I'm quite agree with both speaker answer because the currency is different from various place and must be approved by local government in order to be a valid currency. Somehow the audience didn't really have much question and Mr Chan shared a lot of details insight about doing business and being an entrepreneur.

As a business person, you need to build a track record. If you got volume in transaction, you will eventually have a lower reduce of transaction fees. It is all about looking at the Big Picture than small picture just like he shared about selling "kacang putih" story. One key takeaways that truly important is about being successful. The definition of success really depend on different individual. For instance, seller A feel successful if he/she can earn RM1,000 while seller B feel successful when he/she can earn RM2,000 extra income. In e-commerce, you don't need to target everybody as you just need to target your niche. This is so true when a friend of mine just sell power bank during his startup and make a lot of money back in few years ago despite we're same age and same degree qualification. The last sharing is about "getting funders / angel investor / venture capitalist" and everything about funding for startup.

Mr Chan shared that he spend 2 years to pitch funders for his mobile startup back in the year 1999 and it failed. The true story about getting funding is when your business is a proven to generate some traction. The second tips about funders is they invest in who they know. For instance, if today's Jack Ma want to raise funds, there will be a lot of people waiting behind to funds him. The third tips is if you have a good idea, you can try raise your own funds. So the moral of getting funding is to get a traction of your business, then only raise fund. Make your business viable and have proof of concept. For instance, if today you got 1 people buy a product from you, try to find 5 more, then 20 more to buy and continue growing as you will eventually find your ways to success in one day. Overall it is a great sharing and if I were to choose between iPay88 and MOLPay, I would choose iPay88 because they have a good adviser that can guide your business.

No doubt it is true that once you become successful in life, remember to contribute back to the society at the end of the day. Feel free to contact them at marketing@ipay88.com or +603 2261 4668 to get to know more about online payment gateway in Malaysia. The event end with the upcoming events.
After that, my colleague fetched me back to KL Sentral and I'm grateful for it although something happened. Somehow I just saw our local currency have reach RM4 per $1 USD as below.
I guess it is time to find a way to earn some others country currency and one of my revenue model is writing international review content in someway. However, do you agree that content marketing is dying without a solid sustainable business model in someway? For now, I still finding my ways and somehow I still believe in what Steve Jobs say's about "You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future" that I wrote back in 2011. In fact, it is quite true that sometime "You don't always need a plan, sometime you just need to breath, trust, let go and see what happens" in your life. Stay positive.
=)