Maybank, TM Launches Go Niaga To Offer Financial Services For MSMEs

Maybank Islamic and Unifi Business, TM’s digital business solutions arm, have launched their inaugural ‘Go Niaga’ mobile business banking bundle. This collaboration aims to deliver the country’s first Islamic Banking as a Service (BaaS) solution powered by 5G, catering to consumers and micro, small, and medium enterprises (MSMEs). Targeting local entrepreneurs and MSMEs, Go Niaga is set to help businesses manage finances, improve incomes, and offer digital payment options powered by secure 5G connectivity and networks. The bundle combines the best of Maybank Islamic’s diverse financial services with TM’s recognised Uni5G Postpaid Biz mobile packages, providing seamless access and experiences for today’s digital customers. Additionally, Go Niaga will address current market gaps among this segment and enable businesses to better participate in e-commerce and expand their customer reach.

Maybank Islamic, CEO, Dato’ Mohamed Rafique Merican said, “This partnership between Malaysia’s largest telecommunications company and the country’s leading Islamic banking  institution opens up unique opportunities for us in delivering Islamic banking services to  customers. This partnership is a significant step forward in financial inclusion. By embedding Maybank Islamic’s BaaS solutions within Unifi Business’ platforms, previously unbanked or underbanked individuals and businesses will gain access to Maybank’s essential financial  services and 5G mobile connectivity through TM’s cutting-edge technologies.” 

“While the technology originates from the BaaS concept, what makes it unique is its  adherence to Islamic principles, making it the pioneering example of its kind in Malaysia. It  combines modern technology with the ethical requirements of Islamic finance, providing  innovative and faith-based financial services,” he added. 

One of the key features of the Go Niaga bundle is the SME First Account-i, which allows customers to open an account with a minimal deposit of RM 100. This feature enables entrepreneurs to effectively manage their personal and business finances, thereby improving their long-term credit rating. Additionally, the bundle includes payment acceptance facilities through Maybank Islamic’s QRPay Biz and Tap2Phone services. These services enable cloud-based point-of-sale transactions via mobile devices, facilitating seamless digital and card payments for businesses.

Entrepreneurs can also benefit from credit facilities offered by Maybank Islamic, such as the SME Digital Financing: Aspirasi Wanita Programme, which provides access to funds for stabilising and expanding their businesses. Moreover, the Go Niaga bundle features Uni5G Postpaid Biz plans (39, 55, and 89), bundled with free 5G mobile devices. This ensures secure access to financial services anytime, anywhere, while also extending 5G capabilities to more communities.

Customers signing up for Maybank Tap2Phone merchant payment facilities bundled with Uni5G Postpaid Biz packages can enjoy cash rebates for Unifi Mobile bills. This comprehensive offering will be available from February 21 to May 29, 2024. Interested customers can visit selected Unifi Stores on Tuesdays, designated Maybank branches on Wednesdays, and selected Pusat Ekonomi Digital (PEDi) nationwide on event days to explore the benefits of these offerings.

Unifi, Chief Commercial Officer for Consumer Strategy & Business, Shanti Jusnita Johari highlighted the significance of micro, small, and medium enterprises (MSMEs) in driving Malaysia’s economic growth. Despite their substantial contribution to the GDP, MSMEs often face barriers to accessing digital tools and financial services. This challenge is particularly pronounced among underserved segments, such as micro and small businesses, which struggle to access the necessary resources for improving their businesses and enhancing their quality of life. 

“As a trusted partner to more than 400,000 MSMEs across the nation, we believe this  partnership is a timely intervention to effectively address these challenges and help local  businesses seize the opportunities of the digital economy. This partnership is the next milestone in our vision to become a digital powerhouse by 2030 and our mission to power a  Digital Malaysia, improving businesses and communities through technology, and paving the  way for a digitally inclusive nation,” Shanti added.  

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