Malaysian online payment services provider, MOLPay, is launching a new payment feature for its online merchants (view press release). Dubbed MOLPay Easy Payment Scheme, the feature is designed to help merchants sell more by allowing online shoppers to convert a credit card transaction into an instalment with a tenure of six months, 12 months or any other tenure offered by the credit card company. Once a shopper has made a successful transaction via MOLPay, using one of twelve Malaysian credit card companies that issue Visa and MasterCard credit cards, they can convert the transaction into monthly instalments and settle the payment with the card companies on a monthly basis instead of a one-time payment settlement.

The supporting banks include AEON Credit, Citibank, HSBC Bank, Maybank, Standard Chartered Bank and RNH Bank.