As a popular POS system provider, we received many inquiries about integration with eWallets, with each of them limited to own group of merchants. While most of them has ambitious plans to grow merchants base, they did not take off after a long period of time.
We think the better direction would be to build a nationwide universal platform (seriously), instead of building standalone apps for limited communities. Market capitalization and penetration need more user incentives, heavily driven by convenience and perceived values. A single eWallet system has to be easy to use, available everywhere so that more people gets interested (think Wechat wallet, Alipay), nothing a well connected company can’t achieve.
With Alipay’s plan to enter Malaysia in 2017, will it help to spawn more similar systems locally, or will it replace all the existing players?