By KEVIN WONG / Pic By ISMAIL CHE RUS
Homegrown e-wallet app, Boost, has partnered global payment brand UnionPay International Co Ltd to grow its merchants both locally and abroad.
Boost CEO Christopher Tiffin (picture) said the partnership with UnionPay International will rapidly expand the e-wallet footprint nationwide, as well as overseas, which ties in with its regional expansion plans.
“As UnionPay International is one of the leading international payment brands in the world, this partnership allows us to create relevance to merchants and customers, both inside and outside of Malaysia, by leveraging UnionPay’s international presence,” Tiffin said at an official signing ceremony between Boost and UnionPay International yesterday.
“At the same time, this is another milestone in broadening Boost’s functionality and usability to provide a more rewarding experience for our partners and customers,” he said.
He added that the partnership will also enable users to use Boost to leverage on UnionPay International’s offerings to transact globally, and for tourists to transact in the country.
“For Boost users to use UnionPay International’s remittance services, it will not be available for the moment, but we will explore the opportunity to leverage on this partnership,” Tiffin said, adding that the group is focused on building and accelerating the ecosystem to double the adoption rate of users by the end of this year.
Boost is one of the leading e-wallet applications with over 2.7 million of users, with online and offline merchants located in 30,000 touch points.
The e-wallet serves as a virtual replacement for the physical wallet, where it is designed to simplify the transactional process, while ensuring an easy, fast and convenient, as well as seamless payment process.
Meanwhile, UnionPay International South-East Asia GM Wenhui Yang said the partnership with Boost will continue to immerse its business into a cashless environment, to provide customers a more convenient, secure and seamless way of payment.
“With our core values centred on sharing growth and win-win cooperation with partners, and bringing fresh perspectives to the global payment industry, joining forces with Boost signifies a natural progression in our business as we shift towards digitising the worldwide nation.
“In addition, this is in line with our strategy to localise our business to better cater to the payment needs of Malaysian businesses and consumers,” he said.
UnionPay International is one of the fastest-growing payment brands globally which serves over seven billion customers.
It has formed more than 1,800 partnerships with institutions worldwide and its card payment is accepted in 170 countries and regions globally, with issuance in 48 countries and regions.