Singapore-headquartered hoolah is working with Visa to support Malaysian small and micro businesses in growing their online presence through social commerce as well as facilitating growth through its Shariah-based Buy Now Pay Later (BNPL) payment solution.
Through Visa’s Where You Shop Matters initiative, hoolah is attempting to support homegrown brands recover from the economic blows of the COVID-19 pandemic. The partnership will see hoolah waiving transaction fees for the first 100 orders paid with hoolah through a Visa card, when merchants sign up for the campaign. The start-up’s interest-free BNPL solution also assists merchants address conversion, basket increase, customer traffic and loyalty.
“With the enforcement of yet another round of movement control order and the declaration of a nationwide state of emergency, we believe that where Malaysians choose to shop can have a big impact. Frequenting local retailers not only helps businesses to survive and even thrive, but it also helps spur the nation’s economy which benefits society. With these newly formed partnerships, we look forward to seeing more new and existing merchants joining the Where You Shop Matters program. Through this, we hope to be able to bridge Malaysians’ needs with our merchants’ myriad of offerings,” Ng Kong Boon, Visa’s country manager for Malaysia, said. This engagement comes at a time when 98% of Malaysians have indicated their willingness to shop at local retailers to support business recovery, a recent Visa study found. From this, 30% of consumers were found to have already formed the habit of supporting local businesses due to the pandemic.