Mastercard, Boost team up to expand digital services

Boost chief executive officer Sheyantha Abeykoon (right) and Mastercard division president of Southeast Asia emerging markets Safdar Khan (left).

KUALA LUMPUR: Mastercard and Boost, the fintech arm of Axiata Digital have embarked on a strategic partnership to provide a range of innovative payment solutions and offerings to Malaysian and Indonesian consumers.

“One of the first products in the pipeline will be a Mastercard prepaid card that will complement the current offerings by Boost Life, Boost’s e-wallet business.

“One of the principal aims of the Boost Mastercard prepaid card will be to allow Boost consumers to make seamless, safe and convenient payments in Malaysia, Indonesia, and globally where Mastercard is accepted,” it said in a joint statement.

The partnership also envisages the launch of SME financial products to expand the services currently offered to small micro merchants through the Boost Biz and Boost Credit platforms in Malaysia and Indonesia.

Boost will also tap onto Mastercard’s technology to expand and strengthen its fintech and payment offerings in the South Asian region, and will support its processing capabilities, payment gateways, and automation efforts.

“As a leading fintech player, we are pleased to enter into a multi-faceted partnership with Mastercard in the markets we operate in,” Boost chief executive officer Sheyantha Abeykoon said.

“Drawing on Mastercard’s global expertise and technology, and coupled with our wide spectrum of fintech solutions, we are excited to reimagine what’s possible for our local and regional customers and merchants as we navigate a rapidly changing digital landscape,” he added.

Meanwhile, Mastercard division president of Southeast Asia emerging markets Safdar Khan said Mastercard was delighted to help Boost bolster its existing range of products and services to benefit its users.

“As we collectively work towards creating more cashless, and digitally inclusive economies, partnerships at all levels of the ecosystem will be necessary to ensure that we reach as many people as possible,” he said.