Image credit: SoyaCincau.com
KUALA LUMPUR: Homegrown e-wallet Boost has rolled out its Micro and Small-Medium Enterprises (MSMEs) E-commerce Campaign to help the country’s MSMEs future-fit their businesses to recover with resilience under the new normal.
By joining forces with the government through the Malaysia Digital Economy Corporation (MDEC), Boost is committed to helping the digitisation of the country’s MSMEs as part of the government’s Penjana Short-term Economic Recovery Plan.
Boost chief executive officer Mohd Khairil Abdullah said his team was happy to lend the expertise to be a part of the government and MDEC’s initiative of enabling MSMEs with access to innovative, but simple-to-use digital solutions that would help them not only to recover with resilience, but also to thrive under the new normal.
“This ultimately works well to supplement the government’s Penjana objective in lifting up the economy. Since the pandemic hit, more small and individual businesses have recognised the power of having an online presence and with over 7.6 million users to date, we aim to give these businesses exposure to our fast-growing user base.
“Boost will also be offering digital financial services such as micro-financing as an added facility to aid MSMEs rebuild their businesses. Business owners can also protect their businesses with our upcoming insurance product for MSMEs. Merchants can apply for micro-financing up to RM20,000 through our sister company Aspirasi, a digital financing provider, with no repayment required for the first six months via Aspirasi Assist,” he said.
He pointed out that with the availability of affordable and accessible micro-financing, businesses could focus on resuming operations in the
new normal with financial flexibility.
With e-commerce increasingly being relied on as a safe, secure, and convenient way to shop for essentials and lifestyle needs, businesses need to be able to adapt to keep up with changing consumer behaviours in order to remain relevant.
Boost will support and train businesses to digitise in order to reach a wider consumer base, while simplifying the payment process.
For the duration of the
e-campaign period, which runs until Sept 30, participating merchants could receive up to RM1,500 worth of rewards and benefits.
Boost will also help merchants digitise and move offline-to-online (O2O) by setting up their own e-commerce catalogues that would be integrated with the Boost Business Payment Link feature – allowing a seamless end-to-end online journey.
This feature would allow merchants to showcase their list of products that customers could easily browse over, make orders, and proceed to pay in a quick, hassle-free manner via Boost app.
This is a significant step towards transformation where they can pivot their existing business model and proven helpful throughout the Movement Control Order (MCO) period.
Boost Business Payment Link is a new innovation by Boost for merchants to collect payments via email, SMS, or WhatsApp.
Malaysians across the country can also do their part to safely support local businesses while stimulating the local economy by using Boost for clean and safe contactless payments.
To encourage users to support and spend at MSMEs, Boost will provide cashback specifically for Boost users throughout the campaign period.
Users will earn 20 per cent cashback for a minimum spending of RM10 whenever the payment is made via Boost Payment Link.
The cashback will be credited into the customers’ MSMEs Partner Wallet that can be used at any participating MSME merchant in this E-commerce Campaign.
Source: https://www.theborneopost.com/2020/08/19/boost-launches-campaign-for-msmes/