Case Study

Packist driving growth locally and internationally with transparent dispute resolution process for online travel marketplace

MOLPay Case Study - Packist

Established in 1993, the parent company Beautiful World Tours & Travel Sdn. Bhd. with 23 years of experience in travel and tours industry expand its wing by introducing Packist, Malaysia first & largest E-Travel platform that aims to be the new “Travelution”. Leading travel marketplace for travel agencies to sell their tour packages without the needs of customers to visit tour offices. The business offers more than 700 tour packages in over 25 countries. The business signature services include high demands tour packages from honeymoon and halal trips package, cruise, theme park entrance tickets to K-Pop Music Festival package and more.

A striving goal to reach 1 million traveler signups on the platform, Packist embarked its ambitious journey by providing a risk reduction platform for travel agencies and customers as well as an efficient dispute resolution process with systematic cash management system.

Partnering with Razer Merchant Services

Packist emphasizes the importance of online payment as it provides security for both travel agencies and customers. Packist chose to partner with Razer Merchant Services as it provides a service of escrow payment where Razer Merchant Services acts as a trusted third party that collects, holds and disburses fund on behalf of Packist depending on travel agencies and customers’ needs with capability to support structured cash flow for online travel marketplace.

Malaysia’s New Age of Travel “Pack”form

Packist aims to gather more than 1000 travel agencies under one high liquidity platform with lots of provided value. To ensure maximum capability of the platform, Packist collaborated with Razer Merchant Services leading payment gateway in Southeast Asia to support online transaction through escrow payment. It is a service where Razer Merchant Services acts as a trusted third party that collects, holds and disburses fund on behalf of Packist.com.

Escrow payment is important to the business where dealing with huge number of customers and large amount of transactions could lead to complexity and might jeopardize the business operation. The payment system offers a comprehensive protection program for both travel agencies and customers. In certain cases, any transaction dispute between travel agencies and customers can be resolved quickly in a transparent manner.

This in return will build the business credibility and reputation on delivering a trusted online travel platform especially to the business target market, the millennial.  Malaysia’s millennial are leading the way in leisure overseas travel, making an average of five overseas trips in the past two years compared to only three overseas trips by those in older age groups, according to Visa's latest Global Travel Intentions Study. The study also reported that, Malaysian Gen Y tend to spend more time on planning their vacation to ensure they get the most out of their holiday, with 81 percent of them planning for their vacation 14 weeks ahead. Thus, credibility is one of the basic survival tools in gaining customers’ trust for travel industry.

Soaring 2017: Implementation the most systematic cash management for online travel marketplace

Making payment to thousands of travel agencies in bulk is typically time consuming and inefficient. A partnership with Razer Merchant Services lets Packist to send multiple payments in one batch through Razer Merchant Services Mass Payout. It is cash management service for Packist.com which caters one go payment to a large numbers of travel agencies and customers in terms of direct settlement and refund services for any unresolved dispute. Cash management for marketplace platforms with such a variety of payment channels could be very risky task but Razer Merchant Services Mass Payout is one step ahead in order to add value to both customers and the travel agencies. It is indeed convenient automated system and time-saving by making multiple transaction at one go.

Starting from a local office with six team members, Packist currently has 40 members in the family within seven months since it was first launched in February 2016. In delivering the best values for travelers, up to 100 people are recruited for full operations support in providing not less than a full satisfaction of travelling. The ability to supplement a core service with added values that distinguish it from competition seems to be the most essential element in the creation of successful brands especially in holds up online transaction”, commented Sky Lee, CEO of Packist.

Future Growth with Razer Merchant Services

Successful integration of escrow and mass payment in local, Packist is planning to expand the business internationally with Razer Merchant Services leading payment gateway in Southeast Asia by setting up more branches in Australia, Philippines, Indonesia and Singapore.

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