iPay88 Co-Founder Chan Kok Long Set to Leave in March 2025

In just the space of a fortnight, the fintech sector in Malaysia has seen significant leadership changes, with big and breaking news on the resignation of some of the top-level C-suite executives from companies such as GHL Systems Berhad and BigPay.

And today, we have reliably learned that another top executive is set to leave his role. This time around, it’s coming from Chan Kok Long, the Co-Founder and Executive Director of iPay88.

The company has played a key role in advancing e-commerce and digital transactions in the region, significantly impacting both local and regional markets.

Chan Kok Long and his co-founders established iPay88, which has driven online payment solutions in ASEAN. In 2015, Japanese IT giant NTT Data acquired iPay88, allowing the company to expand its technology and market reach.

Just last year, with the same aim of strengthening the company’s presence in the Southeast Asian region, NTT Data, with iPay88 as one of its subsidiaries, acquired a majority stake in GHL Systems Berhad.

Following this acquisition, NTT Data is restructuring iPay88 and GHL Systems. This is to better align both entities for comprehensive payment solutions in online and physical retail markets in Malaysia and beyond.

Chan Kok Long has confirmed that his tenure at iPay88 will conclude on 31 March 2025. He explained that his departure aligns with fulfilling his contractual obligations with the company.

Chan reflected on his decision, saying:

“After building a successful business, it is time for me to contribute to a broader audience and make a greater impact. My focus will shift towards giving back to society and the nation by driving digital transformation and integrating technology into the daily lives of the rakyat.”

Chan Kok Long leaves behind a legacy of transformative achievements. Besides his role at iPay88, he has been a prominent figure in the e-commerce sector. He actively participated in sales, marketing, and partnerships that have shaped the industry’s landscape.

With over 25 years of experience in online businesses, Chan has mentored and spoken at major e-commerce conferences. He earned recognition with awards such as the Technopreneur Excellence Award from the PIKOM ICT Leadership Awards in 2016.

That same year, he was a top nominee for EY’s Entrepreneur of the Year award in the Emerging Entrepreneur category. Chan’s contributions go beyond the corporate sphere. As Chancellor and E-Commerce Malaysia Deputy Chair for PIKOM, he has led initiatives to advance Malaysia’s digital economy.

While Chan’s departure closes a chapter for iPay88, his influence remains. His vision for leveraging technology to uplift communities will continue to inspire.

The industry will continue to feel his influence as he embarks on efforts to bring meaningful digital innovation to society.

Additionally, following Chan’s imminent resignation, the second co-founder, Lim Kok Hing, who is also the CEO of iPay88, is also rumoured to be leaving.

We are currently awaiting further official announcements from iPay88 regarding this matter.

Featured image credit: Edited from Freepik