iPay88 Holding Sdn Bhd shared its analysis findings of its 2017 data insights, showing a good representation of the country’s eCommerce space as well as the direction that online payments and shoppers are trending towards.
Throughout 2017, iPay88 recorded a total of 58.5 million online transactions moving over its payment gateway systems, increasing by 53.1% from 2016. Of those transactions, the month of December was saw the most traffic with over 6.7 million transactions recorded.
iPay88’s data analysis also shows interesting trends that indicate the biggest growth in online retail between 2016 and 2017, which includes:
- Transportation services – 278% increase
- Personal and skin care – 179% increase
- Delivery services – 177% increase
- Virtual/Instant services (VOIP, SMS, Prepaid, Top Up) – 159% increase
In 2018, Chan expects stiff competition for conventional retail companies that have not invested in digital versions for their retail channels.