KUALA LUMPUR (July 1): Homegrown e-wallet Boost is bringing merchant solutions at zero cost to further support micro, small and medium enterprises (MSMEs) shift online via the Go-eCommerce Onboarding Campaign.
The campaign is an initiative under the Budget 2021 digital adoption programme by the Ministry of Finance and Malaysia Digital Economy Corp (MDEC).
Chief executive officer (CEO) Mohd Khairil Abdullah said the opportunity to partner with the government to provide MSMEs with a digital commerce and payments solution is timely as the country continue to remain in phase one of the National Recovery Plan.
“This solution is especially important considering consumer’s consumption and spending behaviour have shifted significantly to online since 2020,” he said in a statement today.
Last year, Boost reported that its total gross transaction value (GTV) more than doubled the total GTV in 2019 with GTV for payments done at online merchants alone growing by 40% in 2020.
Mohd Khairil said many merchants might not have the resources to afford high commission fees from e-commerce platforms or are not tech-savvy to know where or how to start an online business.
“These are the key reasons we 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 e-commerce,” he said.
He said for the campaign, Boost intends to build upon last year’s MSME e-commerce campaign momentum with an aim to triple the number of MSME merchants it helps on board and digitalise.
Through the Go-eCommerce Onboarding Campaign from July 1 to Dec 31, 2021, Boost will be offering benefits such as a zero merchant discount rate or MDR (a minimum fee charged to merchants at a specific rate for every transaction made) until Dec 31, 2021.
Other perks include zero sign-up and onboarding fees, up to RM500 cash incentives for merchants, assistance to start selling online, and digital marketing support.
To further enhance its omnichannel e-wallet platform functionalities, an in-app full end-to-end e-commerce solution is in the pipeline this year.
MSMEs interested to onboard with Boost under the Go-eCommerce Onboarding Campaign can sign up by visiting http://myboost.com.my/business/campaign/go-ecommerce and upon signing up, a Boost Merchant team representative will get in touch within five working days.
More infomation available at Boost website, www.myboost.com.my.
Meanwhile, in a separate statement, Lazada said together with MOF and MDEC, it would run a “Shop Malaysia Online” and “Go-eCommerce” initiatives from July 1 till Dec 31, 2021 concurrently to support local SMEs.
Chief operating officer Darren Rajaratnam said Lazada was the first eCommerce platform to provide support for local businesses during the first and second Movement Control Orders, investing more than RM50 million through its Pakej Kedai Pintar stimulus packages.
“We have continued investing and supporting the MSME community over the last 18 months through various initiatives and partnerships with MDEC and the local government.
“Since then, there has been a more than 300% increase in new MSMEs onboarding our eCommerce platform, future-proofed thousands of local businesses and enabled local MSMEs to adapt and pivot into recovery and growth mode,” he added.
The Lazada’s Shop Malaysia Online campaign would offer additional incentives to consumers when they shop local online with 50 per cent discounts on vouchers and crazy flash sale and daily free shipping all day.
Meanwhile, the Go-eCommerce initiative, jointly funded by Lazada and MDEC, would help nearly 40,000 local MSMEs to start their digital journey and increase their exposure and sales through the program’s curated incentives.
More information on Shop Malaysia Online is available at ttps://lzd.co/LazadaShopMalaysiaOnline and information on Go-eCommerce is available at https://lzd.co/LazadaGoEcommerce.
Source: The Edge Markets
