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PayEasy Ties-up with Malaysia's Largest Payment Gateway

June 25, 2007 — One year after it won the Best E-Business Product award from the Center for International Trade Expositions and Missions (CITEM) of the DTI in E-Services Philippines 2006, Mozcom’s PayEasy Online Payment System continues to innovate and expand its services. In what may be a first in cross-border e-commerce history, PayEasy has tied-up with Malaysia’s most comprehensive payment switching gateway, iPay88. This partnership will allow Malaysia’s online users to buy items from Philippine-based merchants running on PayEasy’s payment platform using their local Malaysian bank account or mobile payment system.

"We have been saying that e-commerce will bring down trade barriers for a long time. But the fact is, developing countries still have a very low penetration of credit cards, which still remains the number one form of payment in the Internet," said Robertson Chiang, Mozcom’s COO/CTO. "To have a wider e-commerce adoption, we have to accept all forms of local fund sources like bank accounts or mobile phone-based payments. With this new development, Malaysians who do not have credit cards, or may not be comfortable in using credit cards online, can now just use their bank account or phone-based wallet, to buy from Philippine-based merchants."

iPay88 is an Internet Payment Switching Gateway operated by Mobile88.com Sdn Bhd of Malaysia. Through this e-payment solution, users of Alliance Online, Maybank, Bank Islam, Bumiputra Commerce, FPX, RHB Bank, Hong Leong Bank, PosPay, Public Bank and Mobile Money may make online purchases using their bank accounts.

"This is just first phase of our partnership. We are really looking at a bilateral arrangement wherein Philippine users will also be able to buy items from Malaysian online merchants using only their BancNet ATM or G-Cash via PayEasy," Chiang adds. "We will also embark on other similar payment gateway tie-ups among the regional players in the near future."

Mozcom PayEasy is the most comprehensive online payment system in the country today supporting all major credit cards (Visa, MasterCard, American Express, Discover, JCB, Diners Club), BancNet and MegaLink ATM cards, PayPal, Globe G-Cash, Smart Money, UCPB my1Time, and Western Union. For more information, visit http://www.payeasy.ph or call (02)848-2606.