Raiz Malaysia, a joint venture company between Raiz Invest Australia and Permodalan Nasional Berhad (PNB), enables its customers to link their bank cards via the micro-investment app through its partnership with Visa.
Following its launch in July 2020, Raiz was initially only available for Maybank account holders.
With Raiz’s auto-round-ups feature, cardholders can now save their spare change from everyday purchases and boost their savings in the background of life while managing their finances better.
Raiz added that it is continuing to expand the app’s functionality, mainly driven by customer feedback.
The company began its operation in Malaysia in the middle of 2020 and has more than 100,000 active users.
Through this partnership with Visa, the company can now boost its growth in the Malaysian market.
Raiz also has operations in Indonesia and is now looking to expand into Thailand with plans to introduce this offering in those markets as well.
Aidi Izham, Raiz Malaysia’s Chief Executive said,
“This agreement is a pivotal moment for Raiz in Malaysia. We are excited about the opportunities and growth we have had through our existing relationships with Maybank and PNB.
This new partnership with Visa will allow more Malaysians to access all features of the Raiz app to improve their financial well-being”.
