Maybank Islamic in collaboration with Telekom Malaysia (TM) has launched the “Go Niaga” mobile business banking bundle for MSMEs, according to The Edge.

The Go Niaga bundle is a fusion of Maybank Islamic’s robust financial solutions and TM’s advanced Uni5G Postpaid Biz mobile packages, offering businesses the ability to manage finances and accept digital payments seamlessly.

This innovative service, powered by the latest 5G technology, aims to bridge the financial digital divide for businesses, particularly in the MSME segment.

The new offering provides businesses with advanced payment solutions like QRPayBiz and Tap2Phone from Maybank Islamic.

These tools enable the use of mobile devices as cloud-based point-of-sale systems, facilitating both digital and card payments and fostering greater business efficiency and market reach.

The Go Niaga bundle targets to fill the existing gaps in the market, enabling MSMEs to widen their e-commerce presence and customer base effectively.

Datuk Mohamed Rafique Merican, CEO of Maybank Islamic, emphasised the significance of this collaboration for financial inclusion.

He noted that the service not only leverages the banking-as-a-service (BaaS) model but is also distinguished by its adherence to Islamic banking principles, marking a first in Malaysia.

Shanti Jusnita Johari, Unifi’s Chief Commercial Officer for Consumer Strategy and Business, highlighted the critical timing of this partnership to address the hurdles faced by local businesses in the rapidly evolving digital economy.

With MSMEs contributing to nearly 38% of Malaysia’s GDP, the potential of this segment is vast yet often hindered by limited access to digital tools and financial services, particularly among the underserved micro and small businesses.

Featured image credit: Edited from Freepik