PaySult's Presentation in Leadership Summit 2011

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Terry KSYee presented in PIKOM's Leadership Summit 2011 to share about the importance of Online Payment in Malaysia's E-Commerce.

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PaySult's Presentation in Leadership Summit 2011

  1. 1. The Importance of Online Payment in E-Commerce Presented by: Terry Yee K. S. In PIKOM’s Leadership Summit 2011
  2. 2. E-Commerce Trend in Malaysia5 years ago Now And more…. Confidential and Proprietary 2
  3. 3. Online Payment in Malaysia Online Payment: A system facilitates the acceptanceof payment for E-Commerce. The acceptance of Online payment in Malaysia isgrowing slowly from year to year. Confidential and Proprietary 3
  4. 4. E-Payment Statistic in Malaysia (2006-2010) 45 40 35 30 25 20 15 10 5 0 2006 2007 2008 2009 2010 Transaction Volume per capita (unit) Source: Bank Negara Report Confidential and Proprietary 4
  5. 5. Transaction Volume of Internet Banking in Malaysia 1200 1000 +57% 1100.3 800 600 699.9 624.4 400 417.8 200 334.8 259.1 0 2005 2006 2007 2008 2009 2010 RM bil Source: Bank Negara Report Confidential and Proprietary 5
  6. 6. Penetration of Internet Banking in Malaysia 34.8 35 29.1 30 25 22.5 20 16.9 15 12 9.8 10 5 0 2005 2006 2007 2008 2009 2010 Penetration to Population (%) Source: Bank Negara Report Confidential and Proprietary 6
  7. 7. Common Practices of E-Payment used in the Industry Source: Bank Negara Report Confidential and Proprietary 7
  8. 8. How Online Payment Helps Your Business Confidential and Proprietary 8
  9. 9. 1. Improve Security Hold less cash on your premises Confidential and Proprietary 9
  10. 10. 2. Wider Customer Base Market for E-Commerce is borderless 2.1 billion Internet users worldwide* Customers can pay you via phone, mobile internetdevices and laptop everywhere as long as with internetconnection. *Source: www.internetworldstat.com (Last update on 31 March 2011) Confidential and Proprietary 10
  11. 11. *Source: www.internetworldstat.com (Last update on 31 March 2011) Confidential and Proprietary 11
  12. 12. 3. Ease Your Admin It comes with online statement of transactions whichis easier to reconcile Improve efficiency of operational job. Confidential and Proprietary 12
  13. 13. 4. Work 24 hours Online payment works 24 hours a day and it allowsyour customers pay while you are sleeping, dining ortravelling. Confidential and Proprietary 13
  14. 14. 5. Create Convenience To Customer Save time and convenience for jobs people. Online payment just requires few mouse clicks whichtake few minutes to complete the transaction. Confidential and Proprietary 14
  15. 15. The Barriers of Online Purchase Confidential and Proprietary 15
  16. 16. 2 Barriers to customers completing their purchase 50% 41% 60% of online buyers drop off think that the checkout don‘t feel secure the checkout process takes too long 50% 41% 60%Source: Online-Studie, Valtech, November 2006 und TNS Research, 2006 Confidential and Proprietary 16
  17. 17. 2Customers have many opportunities to abandon purchases Bad Design of Online Purchase Flow 1 2 3 4 5 6 Open Delivery Review Select Fill in Payment Choose the merchant address payment payment confirmation Order product confirmation account option details Confirm Pay- KLICK KLICK KLICK KLICK Log In ment Informat. Buyer proceeds to checkout Additional sales potential Doesn‘t want Data entry to register too long & time Impatience Prefered payment Buyer completing consuming method missing Security concerns checkout Confidential and Proprietary 17
  18. 18. 2Customers have many opportunities to abandon purchases Bad Design of Online Purchase Flow 1 2 3 4 5 6 Open Delivery Review Select Fill in Payment Choose the merchant address payment payment confirmation Order product confirmation account option details Confirm Pay- KLICK KLICK KLICK KLICK Log In ment Informat. Good Checkout Process 1 2 3 PayPal PayPal Review & → Less hassle Choose the Login Review confirmation Order product confirmation → Less time Confirm Pay- → Less risk of checkout Log In KLICK ment Informat. Payment abandonment Confidential and Proprietary 18
  19. 19. An Good Online Purchase Flow - Case Study Confidential and Proprietary 19
  20. 20. Checkout Process Confidential and Proprietary 20
  21. 21. Online Payment Confidential and Proprietary 21
  22. 22. Transaction Review Confidential and Proprietary 22
  23. 23. Purchase Done! Confidential and Proprietary 23
  24. 24. Online buyers worry about ID theft Why haven’t you bought products or services online? I don’t want to share my financial information online 41% Want to see it before I buy it 40% Prefer to research online, buy in stores 21% 20% Don’t have a credit card or debit card Heard about other buyers’ bad experiences online 18% Delivery costs are too high 14%Source: Forrester Research. North American Technographics® Retail And Customer Service Online Survey, Q2 2007 Confidential and Proprietary 24
  25. 25. Conclusion Online Payment comes with advantages as well as disadvantages. When the risk is manageable, online payment definitely will create successful achievement in your business. Confidential and Proprietary 25
  26. 26. Terry KSYeePayPal Business Consulting Partner, MYTel: +60163906893 (with WhatsApp!)Email: ksyee@paysult.comSkype: ksyee1607MSN: ksyee1607 Confidential and Proprietary 26

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