KUALA LUMPUR, May 8 — Malaysian services and solutions company I Synergy Group (iSynergy) has allocated RM30 million to support small and medium enterprises (SMEs) and aspiring entrepreneurs as well as assisting the nation’s adaptation to the ‘new normal’ and accelerating the digitisation process.
Founder and managing director Datuk Lawrence Teo said RM10 million is allocated for potential merchants to join iSynergy’s universal retail loyalty programme, MY Smart Shopper (MSS), with free credits where merchants would enjoy zero charges for a pre-set amount of MSS transactions depending on the merchant category.
“Recognising the need to encourage spending again, iSynergy will be providing RM4.5 million for consumers to earn greater cashback and rewards during this Covid-19 crisis,” he said in a statement today.
He said consumers who spend through MSS, whether online or offline, would receive cashback and rewards that amount to a total of five to eight per cent in savings for their spending.
Teo said iSynergy has also set aside RM15.5 million to provide 50 per cent subsidy on fees across the board for entrepreneurs to join Affiliate Junction (AJ), a digital entrepreneurial platform that focuses on affiliate marketing and building entrepreneurship skills for its entrepreneurs.
He said by participating in this platform, AJ digital entrepreneurs would have access to multiple programmes where they are able to earn a healthy income through affiliate marketing activities.
Teo said iSynergy is also developing a social e-commerce platform called MSS Mall which is expected to be launched in the third quarter this year.
He said the platform will provide offline merchants with e-commerce capabilities and solutions to low-to-middle income households struggling to afford daily necessities for their families.
“Our MSS Mall focuses on group and bulk purchases, where we estimate to see savings of up to 60 per cent per household.
“Our initiative is to provide consumers with the most affordable prices on the market, while providing brands and SMEs the volume they need to survive,” he added. — Bernama
Source : https://www.malaymail.com/news/money/2020/05/08/isynergy-allocates-rm30m-to-support-smes-and-aspiring-entrepreneurs/1864360