KUALA LUMPUR: Homegrown e-wallet Boost is offering business solutions at zero cost to enable micro, small and medium enterprises (MSMEs) shift from offline-to-online via the Go-eCommerce onboarding campaign.
Boost said the initiative was to help the MSMes sustain their businesses via the campaign from July 1 to Dec 31.
Among the benefits are: Zero merchant discount rate (MDR) until Dec 31. MDR is a small fee charged to merchants at a specific rate for every transaction made; zero sign-up and onboarding fees and no expensive platform fees.
The other benefits are up to RM500 cash incentives for merchants; RM10, 000 cash x 10 grand lucky draw merchant winners.
They include seamless payment with the Boost Business Payment Link, a contactless payment feature that allows merchants to send a URL payment link to customers via any messaging app; assistance to start selling online and digital marketing support
Boost said the campaign was an initiative under the Belanjawan 2021 programme by the Finance Ministry and Malaysia Digital Economy Corporation (MDEC).
It aims to help MSMEs expand from traditional offline operations and digitalise their businesses. Additionally, Boost will also help MSMEs reach a new base of customers online and regenerate their income with the hopes of stimulating the local economy.
“MDEC holds steadfast to its resolve to equip and enable Malaysian businesses to navigate and thrive through these business unusual times.
“With strong support from the government and effective public-private collaborations, we aim to further catalyse the growth of eCommerce in Malaysia and of equal importance, sustaining livelihoods and jobs in the process.
“Together, we can accomplish the goals of MyDIGITAL and place us firmly on-course towards Malaysia 5.0; a globally competitive digital nation, anchored on inclusivity, sustainability and shared prosperity, firmly establishing Malaysia as the Heart of Digital ASEAN, ” said Surina Shukri, CEO, MDEC.
CEO of Boost, Mohd Khairil Abdullah (pic,above), said in this long continuous battle to flatten the Covid-19 infection curve, micro and smaller merchants are struggling to keep their businesses afloat.
“The opportunity to partner with the Government once again to provide local MSMEs with a digital commerce and digital payments solution is very timely, given that we continue to remain in the first phase of the National Recovery Plan. This solution is especially important considering consumer’s consumption and spending behaviour have shifted significantly to online since 2020.”
Boost reported that its total gross transaction value (GTV) in 2020 more than doubled the total GTV in 2019. GTV for payments done at online merchants alone grew by 40% in 2020.
However, Khairil added the reality is many merchants may not have the resources to afford high commission fees from e-commerce platforms or are not tech-savvy to know where to start to transition their business online.
“These are the key reasons we at Boost are providing merchant solutions that they are familiar with and easy to adopt, but minus the expensive fees.
“Our Merchant team will also be providing full-service online onboarding support, helping MSMEs every step of the way to make it easy for them to shift their business operations online in this new age of ecommerce.”
To encourage e-wallet usage at local MSMEs, starting from 12 July 2021 Boost will also be rewarding its loyal users with up to RM30 cashback in the Go-eCommerce Partner Wallet when transacting with all the local merchants.
This cashback aims to generate continuous and repeated transactions between the merchants and consumers. Each transaction with a minimum spend of RM20 will entitle users to a RM3 cashback for up to 10 cashbacks throughout the campaign period.
Users can earn this cash back by simply paying with Boost via the Boost DuitNow QR or the Boost Business Payment Link at any local merchants.
MSMEs interested to onboard with Boost under the campaign can sign up by visiting http://myboost.com.my/business/campaign/go-ecommerce