FOLLOWING the launch of the first Malaysian JCB payment gateway in collaboration with Soft Space, senangPay, a locally-born payment gateway, has achieved significant new milestones when it was recently awarded the Best Solution Payments and Collections in Malaysia award during The Asset’s Triple A Awards 2024.
This honourable achievement is an affirmation of senangPay’s continuous devotion towards providing a holistic payment gateway solution with strong yet simple API integration for all businesses.
By introducing new payment options and features including SPayLater, Payout API and its senangTap pay2phone feature, alongside other strategic partnerships with local entities and private sectors, senangPay aims to spearhead the digital payment revolution.
With the rise of cashless transactions among consumers, senangPay reaffirms its position to invest more in cashless payment technology for both online and offline business as well as build strategic partnerships to this end.
In 2021, senangPay was acquired by DOKU, a licensed payment fintech company in Indonesia.
“This partnership has unlocked a wider variety of payment methods for senangPay, with nearly 30 options available to date,” said DOKU CEO Chris Yeo.
“The recent launch of both JCB and SPayLater as payment options further solidifies senangPay’s commitment to providing innovative and diverse payment solutions for its SME merchants.
“By unlocking more payment options, we’ve observed significant growth in transactions, indicating that more Malaysians are favouring quick and easy cashless transactions.
“With the advanced payment technology from DOKU, both DOKU and senangPay can collaborate effectively to help digitalise the payment landscape in Malaysia, making it more seamless and efficient for everyone.”
With a base of over 3,500 active merchants, senangPay processes over three billion all-time transactions across online and retail businesses through its online payment gateway and physical terminals.
Additionally, its new API payout feature has contributed to a progressive 20%–30% growth in transaction volume over the recent months.
“We started senangPay with a simple vision of getting SMEs to go digital without barriers. Our initial simple online payment form was established to enable SMEs to sell on social media without any complicated integration or technical knowledge,” shared senangPay co-founder Mansor Abdullah.
“Over the years, our payment platform has grown to today’s feature-rich payment gateway that is able to support businesses of all sizes, from micro enterprises to MNCs.”
senangPay, a member of the PayNet companies, operates under the regulation of Bank Negara Malaysia and adheres to stringent PCI DSS compliance standards.
Its recognition by MDEC’s Malaysia Digital Status underscores its unwavering commitment to upholding the highest level of security in safeguarding customers’ sensitive financial information.
Recently, senangPay announced a collaboration with MDEC’s DE Rantau programme which aims to position Malaysia as the premier digital nomad hub in the ASEAN region.
This initiative seeks to enhance digital adoption, promote professional mobility and encourage tourism throughout the country.
Through this partnership, SMEs can access a two-year subscription to senangPay’s Advance package at an affordable rate of just RM0.25 per day.
Expanding its collaborative horizon, senangPay has partnered with Seedflex, a Syariah-compliant fintech company to introduce its market-first Pay-As-You-Sell (PAYS) AdvanceTM financing solution.
PAYS AdvanceTM provides merchants with a dynamic credit facility that can be paid back as automated fractional deductions from future sales.
SMEs can access PAYS AdvanceTM by simply registering their interest via senangPay, then receive and repay funds conveniently from their senangPay account hassle-free. – May 21, 2024
