Micro & SMEs to benefit from wider market reach on top of RM1,500 in incentives by leveraging on digital tools for online growth and expansion

Kuala Lumpur, 17 August 2020 – As part of the Government’s PENJANA Short-term Economic Recovery Plan, homegrown e-wallet Boost is committed to facilitate in digitising the country’s Micro and SMEs (MSMEs) by joining forces with the Government through Malaysia Digital Economy Corporation (MDEC) to roll out the Micro & SMEs (MSMEs) E-commerce Campaign in a bid to help them future-fit their businesses to recover with resilience in this new normal.

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 with changing consumer behaviours in order to remain relevant. This is where Boost comes in to support and train businesses to digitise in order to reach a wider consumer base while simplifying the payments process. This is expected to lead businesses towards greater productivity and growth with the added advantage of receiving advertising and promotional support from Boost, on top of ZERO startup costs.

For the duration of the campaign period which runs from 1 August to 30 September, participating merchants may receive up to RM1,500 worth of rewards and benefits.

On top of that, Boost will be helping merchants digitize and move offline-to-online (O2O) by setting up their own e-commerce catalogue that is integrated with the Boost Business Payment Link feature to allow a seamless end to end online journey. This feature allows merchants to showcase their list of products which customers can easily browse, make an order and proceed to pay in a quick, hassle-free manner via the Boost App. This is a significant step towards transformation where they can pivot their existing business model and proven helpful throughout the MCO period. Boost Business Payment Link is a new innovation by Boost for merchants to collect payments via email, SMS or WhatsApp.

Mohd Khairil Abdullah, CEO of Boost said, “We are happy to lend our expertise to be part of the Government and MDEC’s initiative that is set to enable MSMEs with access to innovative digital solutions that are simple to use and will help them not only recover with resilience but also thrive in this 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 recognise 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 (6) months via Aspirasi Assist. With the availability of affordable and accessible micro-financing, businesses can focus on resuming operations in the new normal with financial flexibility.”

At the same time, Malaysians across the country can 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 be providing cashback specifically for Boost users throughout the campaign period. Users will earn 20% cashback for a minimum spend of RM10 when payment is made using the Boost Payment Link. The cashback will be credited into the customers’ Micro & SMEs Partner Wallet that can be used at any participating MSME merchant in this Government and MDEC’s Micro & SMEs (MSMEs) E-commerce campaign.

To join the Boost MSME merchant community, interested merchants can sign up online at https://www.myboost.com.my/business/penjana-msme-ecommerce-campaign-e-wallet/.