MASTERCARD and Boost, the fintech arm of Axiata Digital, have embarked on a strategic partnership to provide a range of innovative payment solutions and offerings to deliver more choice, convenience and security to Malaysian and Indonesian consumers.
One of the first products in the pipeline will be a Mastercard prepaid card that will complement the current offerings by Boost Life, Boost’s e-wallet business.
Among the principle aims of the Boost Mastercard prepaid card will be to allow Boost consumers to make seamless, safe and convenient payments in Malaysia, Indonesia, and globally where Mastercard is accepted.
The partnership also envisages the launch of SME financial products to expand the services currently offered to small micro merchants through the Boost Biz and Boost Credit platforms in Malaysia and Indonesia.
“As a leading fintech player, we are pleased to enter into a multi-faceted partnership with Mastercard in the markets we operate in,” said Boost chief executive officer Sheyantha Abeykoon.
“Drawing on Mastercard’s global expertise and technology, and coupled with our wide spectrum of fintech solutions, we are excited to reimagine what’s possible for our local and regional customers and merchants as we navigate a rapidly changing digital landscape.”
Meanwhile, according to Mastercard division president (Southeast Asia Emerging Markets) Safdar Khan, partnerships at all levels of the ecosystem will be necessary to reach as many people as possible as all parties collectively work towards creating more cashless and digitally inclusive economies.
“Mastercard is delighted to partner Boost, a regional fintech company to help bolster their existing range of products and services that aims to help include more individuals to connect with the right digital tools, whilst also advancing both Malaysia’s and Indonesia’s growing digital economy.” – Dec 10, 2021
