iPay88 of Malaysia joins NTT DATA GROUP
Sep. 4, 2015
NTT DATA Corporation
NTT DATA Corporation, through its subsidiary NTT DATA Asia Pacific Pte. Ltd (President and Chief Executive Officer: Ryoji Fukaya; Head office: Singapore; hereinafter referred to as “NDAP”), completed an acquisition of iPay88 Sdn. Bhd (Executive Director: Lim Kok Hing, Chan Kok Long; Head office: Kuala Lumpur, Malaysia; hereinafter referred to as “iPay88”), a company chiefly involved in the online payment service and payment solution provider in Malaysia to make the company a subsidiary.
This transaction opens NTT DATA a gateway to establishing a firm foothold in the online payment business in the growing Asia-Pacific market, as it aims to combine NTT DATA’s solutions and know-how in the payment field acquiring through service provisions including CAFIS® and iPay88’s renowned online payment systems for merchants and financial institutions and their strong customer base, to co-offer multiple advanced-and-competitive electric payment services. This collaboration will accelerate the further expansion of its payment business in Malaysia, and also in the Asia-Pacific region.
NTT DATA GROUP aims to cover uncharted areas in order to support customers’ entries into the global market and provide services to overseas markets with growth potential. Moreover, the group has focused on expanding one of its core businesses, the payment field, chiefly within the much anticipated Asia-Pacific region: started various payment businesses for public utilities and e-wallet services in Vietnam in 2011*1, entered into the business that provides card business processing systems for financial institutions in Thailand in 2012*2, and admitted to the Asian Payment Network (APN) as a member to create a common payment settlement platform within the Asia-Pacific region in 2014*3.
Today, electronic commerce in the Asia-Pacific region is one of the fastest growing markets that provide attractive growth potential to the online payment service and payment solution providers. Furthermore, the growing demand for cross-border online payment businesses between Japan and Asia-Pacific region including Malaysia is expected to accelerate increasingly.
Making iPay88 a subsidiary opens NTT DATA a gateway to establishing a firm foothold in the online payment business in the much anticipated Asia-Pacific market. By blending NTT DATA’s solutions and know-how in the payment field acquired through service provisions including CAFIS and iPay88’s strong customer base and their reputed highly versatile online payment service and payment solution systems for merchants and financial institutions, NTT DATA is expecting to co-create a number of leading-edge competitive electric payment services.
iPay88, an independent business established since 2006 that provides online payment services and payment solutions for merchants with multiple financial institutions as business partners in Malaysia, has established a strong position with a leading share based on the number of transaction volume and established e-commerce merchants already operating in Malaysia. In addition, since consumers in the Asia-Pacific region tend to use various methods of payment, including not only credit cards but also direct debit and prepaid, iPay88’s comprehensive payment options enhance merchants’ competitiveness to capture both local and overseas markets. Now, iPay88 is focusing in renewed business development of mobile POS systems to capture card present transactions as value-added services in markets to expand business even further that is in line with direction of building a cashless society.
NTT DATA is seeking to develop business synergies leading to further expansion of business in the payment field in the Malaysia market and the Asia-Pacific region by utilizing the combination of NTT DATA’s IT solutions centered around the CAFIS, with iPay88’s online payment business processing systems for merchants and financial institutions and also their strong customer base.
Overview of iPay88
|(1) Trading Name|
iPay88 Sdn. Bhd
|(2) Head Office|
Suite 2A-18-2, 18th Floor, Block 2A, Plaza Sentral, Jalan Stesen Sentral 5, 50470 Kuala Lumpur, Malaysia
Executive Director: Lim Kok Hing, Chan Kok Long
|(5) No. of Employees|
57 (current as of July 31)
|(6) Business Details|
Online payment service and solution business Multi-currency gateway business
- *1Capital Tie-up with VietUnion of Vietnam
- *2Accellence of Thailand joins NTT DATA GROUP
- *3NTT DATA Becomes First Japanese Company to Join Asian Payment Network
- *“CAFIS” is a registered trademark of NTT DATA in Japan.
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NTT DATA Corporation
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