Visa Malaysia eyes double digit growth in billing transactions this year
Visa payWave
VISA Malaysia aims double-digit growth for its overall billing transactions for 2018 focusing on digital applications and online transactions mainly from the travelling and retail expenditure.
Country manager Ng Kong Boon said at present, total billing transactions for both debit and credit cards in Malaysia stood at US$23 billion as at end of 2017.
“We are optimistic for an organic growth this year in our overall billing transactions in the lower double digit growth comprising from our 30 million cardholders in total,” he told reporters at the Pick-A-Trip digital platform launch ceremony in Kuala Lumpur today.
Additionally, Ng said that Visa is also expecting Malaysia’s paywave transaction growth rate to grow between 25% and 35% by year end and approximately 50% from the existing 25% penetration rate.
“We started slightly later than our counterparts but with zero fraud causes reported for paywave transactions, I am confident we can hit the industry benchmark within the stipulated time-frame,” he said, adding that Australia’s paywave penetration rate current stands at 90%, Hong Kong 70%, and Singapore at 50%.
Meanwhile, Visa and Corporate Information Travel (CIT) Sdn Bhd partnered for a new travel mobile application (app) named Pick-A-Trip aimed at enhancing  users ability to search and compare airline and hotel prices worldwide.
The newly launched app offers instant searching and booking of airfare and accomodation through the Visa checkout.