Novatti and ATX Malaysia pushing mobile payments with new JV

Details: James Barton; Category: Mobile Finance; 11 June 2015; 5459 views

Global payments provider Novatti has formed a joint-venture with ATX Malaysia Sdn Bhd to launch a nationwide payment service.

The joint-venture aims to facilitate the uptake of electronic transactions in Malaysia, while aiding the growth of e-commerce and the mobile commerce industry in Southeast Asia.

Novatti (Malaysia) Sdn Bhd will service over 20,000 retailers with the robust and innovative financial transaction service provided by Novatti. To ensure that optimal service is provided, Novatti will also strengthen and expand its core technical operations and development teams through the joint-venture.

“Malaysia aims to strengthen its e-commerce and its digital economy by 2020, and our partnership with ATX will complement this already increasing digital landscape,” said Peter Cook, CEO of Novatti.

According to a 2013 Nielsen-PayPal analysis, mobile commerce in Malaysia reached RM1.82b (US$0.49b); representing almost 50% of the total e-commerce market.

With demand for alternative payment methods growing rapidly, there is a need to enable wider access to mobile payment processes throughout Malaysia. Proven technology and a growing market are critical to properly nurture ongoing growth, and this partnership is the catalyst for ATX to service customers with a robust mobile payments system.