BigPay, an ASEAN fintech company with proud Malaysian roots, today announces that it is has been selected as the official e- wallet provider for the Geng #SayaDigital-eRezeki program by Malaysia Digital Economy Corporation (MDEC), which will support the growth of the sharing economy market in Malaysia.
The partnership is strategically aligned with BigPay’s commitment to support mSMEs and freelancers, with key products such as micro-credit, earned wage access and micro-savings poised for roll-out in the near future. BigPay and MDEC aim to onboard more Geng #SayaDigital-eRezeki to strengthen the program reach and help raise awareness of freelance jobs as a source of supplementary income for Malaysians, while providing transparent and accessible financial services to support them. As the official e-wallet facilitator of Geng #SayaDigital-eRezeki, BigPay provides full access to its suite of fintech solutions like e-money account with an attached Visa/Mastercard card, bill payments, budgeting, international and local bank transfer to help them manage their finances.
“As a Malaysian homegrown business, we are thrilled to partner with MDEC and support the mission of leading Malaysia’s digital economy forward. The eRezeki program is especially close to our hearts as it is in line with our commitment to drive financial wellbeing and inclusion for Malaysians, particularly to MSMEs and freelance segments,” says Salim Dhanani CEO & Co-Founder of BigPay. “We found that the growing segment of the gig-economy is typically excluded or not given access to the right products by traditional financial services firms; hence we will continue to work tirelessly to build the banking of tomorrow through digital and transparent financial solutions for all.”
Launched in 2015 by MDEC, eRezeki program enables Malaysian citizens, especially low-income groups, to generate income opportunities via online sharing economy platforms. Through comprehensive profiling, training and onboarding, the eRezeki participants are matched with digital work in line with their respective skills. This year, MDEC aimed to onboard 25,000 participants acquired from 500 Geng #SayaDigital- eRezeki across the nation.
“Digital technology has made it possible for the sharing economy to be part of the growth of the digital economy, enabling Malaysians and MSMEs to generate additional income and contribute to the growth of the nation. The success of the eRezeki programme stands as a testament of the Government’s and by extension, MDEC’s, cognisance of the fast-changing landscape of the digital economy. I would like to welcome BigPay onboard onto the programme and together, we can assist our fellow Malaysians towards better livelihood and for all to enjoy the benefits brought about by our burgeoning digital economy,” said Mahadhir Aziz, CEO, MDEC.
According to the World Bank, Malaysia has a fast-growing gig economy with 26 percent of its workforce being self-employed or operating independently. This number is expected to increase as Malaysians look to additional income revenues.