KUALA LUMPUR – Visa yesterday announced that AVANA, Atome, hoolah and Split will be joining Visa’s “Where You Shop Matters” campaign. The companies will work together with Visa to support local small and micro enterprises (SMEs) in growing their online presence through social commerce as well as enabling Malaysians to support homegrown brands by providing consumers with more flexible payment options.
The #KitaJagaKita slogan has become a way of life for Malaysians since the start of the pandemic. Based on a recent Visa study, 98% of Malaysians have indicated that they are willing to shop at local retailers to support their business recovery. Results have also shown that 30% of consumers have already formed the habit of shopping at local businesses as a result of the COVID-19 pandemic.
Ng Kong Boon, Visa Country Manager for Malaysia, said, “It is heartening to see local businesses receiving support from consumers and businesses alike during these times of need. We are glad to welcome AVANA as a social commerce enabler, with Atome, hoolah and Split as BNPL enablers, on the Where You Shop Matters program to help SMEs cater to current consumer needs and shopping trends.”
Today, digital payment systems have been integrated into multiple social media platforms, allowing brands to leverage on a Direct-to-Consumer model. In this way, consumers can get product suggestions seamlessly integrated into their social feed and make purchases directly from merchants.
For a market that is heavily engaged in social media, more than half of the Malaysian population are interested to eventually use social commerce.
In addition, many retailers are starting to embrace Buy Now Pay Later (BNPL) services, which allow consumers to manage payments by instalments, and have flexibility on their payment terms, especially when purchasing high value goods. Visa will be partnering Atome, hoolah and Split to introduce exclusive offers to merchants and consumers to adopt the BNPL solutions.