Commerce.Asia, one of Malaysia’s leading e-Commerce groups, is making significant strides within Malaysia with its revolutionary ‘end-to-end’ integrated payment solution.
Since its launch in August 2022, the CommercePay payment gateway has been rapidly gaining traction among e-Commerce and online platform merchants, garnering praise from users and industry experts alike.
The brainchild of industry veteran and Executive Chairman of the Commerce.Asia Group of Companies Ganesh Kumar Bangah, CommercePay is a versatile payment solution designed to meet the diverse needs of businesses across various online platforms, including e-Commerce, Live Commerce, Social Commerce and Mobile Commerce.
“The solution offers a user-friendly experience, enabling customers to make secure and hassle-free online payments,” Commerce.Asia Group CEO Kuna Kathigesan said in a statement.
At the operational level, CommercePay is spearheaded by Chief Technology Officer Tee Pan Yong, who was previously with MOL Global. Meanwhile, its General Manager is Patricia Silvanus who was also previously from MOL Global and has years of experience in several payment industry players throughout Malaysia.
“Unlike many competitors, CommercePay eliminates setup fees and annual maintenance fees, making it an attractive choice for merchants aiming to minimise upfront costs and streamline payment operations,” said Tee.
He added that the quick processing time and approval period provided by CommercePay enables merchants to go live within just 1 to 2 business days after submitting the required documentation.
“While competitors often have slower processing times and approval periods ranging from 1-2 weeks to 1-2 months, CommercePay ensures a rapid and efficient payment process. This swift activation empowers businesses to start accepting online payments promptly,” said Tee.
Another distinguishing feature is CommercePay’s efficient settlement process, ensuring a fast settlement period of 1-2 business days regardless of the merchant’s payment volume. This prompt settlement significantly benefits both large and small merchants, optimising their cash flow management.
CommercePay also offers competitive Merchant Discount Rates (MDR), benefitting merchants of all sizes. This inclusive approach enables businesses, irrespective of their payment volume, to enjoy favourable MDR terms, enhancing their profitability.
Another feature is its innovative settlement split payment module.
“This functionality enables effortless splitting of customer payments into multiple transactions for different recipients. It is especially valuable for use cases such as commission payments to sales agents or revenue-sharing models with sub-merchants, streamlining payment processes and saving merchants valuable time,” said Tee.
Meanwhile, Patricia explained that, in comparison to other market players, CommercePay offers significant advantages.
CommercePay from its launch only August last year has already gained considerable traction, with over 400 merchant users on prominent platforms like Bizapp, SiteGiant, Nuffnang Live Commerce, Xamble Creators and eShoplive.
“Merchants appreciate the comprehensive payment acceptance channels available, which include RPP Online Banking, Credit/Debit Cards, e-Wallets, Buy-Now-Pay-Later, social media payment links, and recurring payments,” said Patricia.
Commerce.Asia Executive Chairman Ganesh Kumar Bangah said that the group is dedicated to continual enhancement of CommercePay.
“Our main focus now is to launch innovative solutions to promote the adoption of online payments in rural areas. Online payment penetration in rural areas of Malaysia is still relatively low compared to urban areas. It is important to address the specific challenges and barriers that exist in these communities, and drive meaningful change,” he said.
With its innovative features, competitive pricing, and unwavering commitment to providing exceptional payment solutions, CommercePay is set to further revolutionise the e-Commerce and online landscape in Malaysia and beyond.
As businesses increasingly embrace digital transactions, Commerce.Asia Group is perfectly positioned to support their growth and empower them within the dynamic e-Commerce ecosystem.
For more information, please visit https://commercepay.asia