AEON Credit Spearheads Digitalisation Platform For Hawkers And Petty Traders

Alex Cheong Pui Yin

28th December 2021 - 3 min read

Hawkers and petty traders who have yet to adopt cashless payments for their businesses, but wish to do so, can soon tap into a recent digitalisation initiative rolled out by AEON Credit Service Berhad in collaboration with numerous partners. These include the Ministry of Entrepreneur Development and Cooperatives (MEDAC) and In2Niaga Sdn Bhd.

Via this initiative, hawkers and petty traders who are registered with MEDAC will be given access to a Privilege Card for Hawkers and Petty Traders, as well as the IN2NIAGA mobile app – enabling them to receive cashless payments from their customers. Each Privilege Card will carry a distinct QR code that can be displayed at the entrepreneurs’ business premises. They can then get their customers to make cashless payments by scanning the QR code, and accept the payments through the IN2NIAGA mobile app.

“Through the IN2NIAGA application, customers have a variety of payment methods to choose from, such as Touch ‘n Go eWallet, Maybank QR, GrabPay, Boost, ShopeePay, Lazada Wallet, credit card, and online banking,” AEON Credit said in its statement, adding that the Privilege Card will also be linked to its AEON Member Plus Visa Card. To note, the AEON Member Plus Visa Card is an existing by-invitation-only prepaid card that offers a range of benefits, such as 2x AEON Points for their expenses.

On top of this convenience, traders holding the Privilege Card will also be automatically enrolled into the Self-Employment Social Security Scheme (SESSS) under the Social Security Organisation (SOCSO). With this, they will be entitled to a range of benefits, including protection from accidents while carrying out their business activities, funding for hospital treatment costs, as well as temporary and permanent disability benefits.

The minister of MEDAC, Tan Sri Noh Omar said that this initiative will give hawkers and petty traders a more efficient and safe transaction method while helping them to embrace digitalisation. He also commented that the additional SESSS coverage is crucial as most of these entrepreneurs do not have insurance coverage of their own.

Meanwhile, the chairman of AEON Credit, Ng Eng Kiat said that it is honoured to have the opportunity to work with MEDAC and SOCSO to help hawkers and petty traders during the post-Covid-19 recovery period. “We aim to bring access to financial services to all communities through the issuance of the Privilege Card in our effort to contribute towards equitable and sustainable growth for hawkers and petty traders, which is also in line with AEON Credit’s commitment to continuously give back to the community,” he said.

This digital initiative is expected to benefit about 1.8 million hawkers and petty traders, and those interested can look forward to the Privilege Card being released by the end of February 2022. Other partners who are also involved in the initiative include the Gabungan Persatuan Penjaja dan Peniaga Malaysia, Datasonic Corporation Sdn Bhd, and Visa Malaysia.

(Source: AEON Credit)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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