Southeast Asia’s leading payment gateway, MOLPay, which is widely used in local 7-Eleven stores showcases its success as a form of digital payment. Well, this form of transaction will be more common soon. Digital payment is a convenient solution for many users – students, bank account holders, credit and debit card users and even those who perform cash transactions.
“UKM realised their students required convenience and flexibility when making payments for their tuition fees and miscellaneous expenses,” said Eng Sheng Guan, Chief Executive Officer of MOLPay. “MOLPay’s partnership with 7-Eleven Malaysia since 2014 has made cash payment more accessible to students at any 7-Eleven outlet across the country. We offer a practical method for UKM to securely receive funds and bolster payment collection.”
In 2014, MOLPay and 7-Eleven Malaysia announced MOLPay Cash for e-commerce merchants that allows customers without bank accounts or credit cards to make cash payments for online transactions. Online stores that offer the MOLPay Cash logo at the checkout would provide a transaction ID, which could be screencapped or printed by customers and then paid at 7-Eleven stores within 48 hours to complete the transaction.
During the year it was launched, UKM was among the pioneering Malaysian universities to embrace digital payments in the country through MOLPay. The university reportedly saw a steady boost of online payment collection by 60% each year. The university credited the improvement in funds to increased awareness of the service availability among the general public and students.
The partnership between UKM and MOLPay has driven the university’s payment system to be updated in real-time which helps ease payment updates upon receiving notice of payment. Students won’t have to worry about any potential disruptions or delays to their education since digital payments are immediate.
MOLPay offers an easy and convenient alternative payment option to Malaysian consumers who still prefer to pay with cash. At the same time, online retailers and service providers are able to reach a wider range of customers who might not have access to credit cards and online banking.
For more information about MOLPay, please visit www.molpay.com