The Hawkers and Petty Traders Association is working on a new digital system for small business owners, which will be based on the usage of a standardised card. The system will function as a digitised platform to spur business activities and organise financial spending for hawkers and petty traders all over Malaysia.

“The card will be free of charge for all hawkers and petty traders as long as they are registered with the local council in respective states,” said the association president Datuk Seri Rosli Sulaiman. “As for newly registered business owners, they too will automatically be presented with a card. This card is also available to the public and will also be free of charge.”

Rosli revealed that current cashless payment platforms like Touch ‘n Go do not allow immediate cashout, making it less than ideal for small-time business owners who are in dire need of cash. “With this system, cashout is immediate,” he explained. “At the same time, the system that comes in a card form can store rewards points when used for shopping or accumulate commission for those who use it for their businesses.”

If approved, the new system will be formed in collaboration with Aeon Credit Service Malaysia and other partners like the Social Security Organisation (SOCSO) and the Employees’ Provident Fund (EPF). “Before this, many hawkers and petty traders don’t have SOCSO and EPF,” highlighted Rosli. However, with the new system, these parties can finally be protected by the respective schemes.

Rosli stated that the system was conceived as a result of the economic downturn caused by the Covid-19 outbreak which forced many hawkers and petty traders out of business. “We hope that this new system can help them regenerate income or for some restart businesses,” he said.

The Hawkers and Petty Traders Association is looking at making this a permanent facility for all hawkers and petty traders registered with respective local councils nationwide. According to Rosli, the association will be meeting with the Entrepreneur Development and Cooperative Ministry to pitch its idea soon.

(Source: Malay Mail)

• TAGS:
• Cashless
• Cashless Business
• Datuk Seri Rosli Sulaiman
• Hawkers and Petty Traders Association
• SMEs