New partnership opens up potential market of eight million users for F&B businesses
Revenue Monster, a Malaysian financial technology company focused on pioneering business digitisation, has announced a new partnership with key cashless payments innovator, homegrown e-wallet Boost to focus on expanding digital market opportunities for F&B businesses just in time for the Ramadhan season.
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The partnership will see the integration of Revenue Monster’s online super store solution, à la carte directly into the Boost e-wallet app. With this, F&B merchants will be able to tap into close to nine million Boost e-wallet users, significantly increasing their market reach.
Particularly, for bazaar stall owners, this means that this Ramadhan they will have more avenues to sell their delectable dishes even to customers who can’t visit the bazaars, thereby increasing their revenue streams.
“This is a monumental partnership for us and our merchants as it helps usher in the next step in our plans to amplify reach for our F&B partners,” said Amanda Chin, CEO of Revenue Monster. “The pandemic has undeniably shown us that digital is the way forward. At Revenue Monster, we have spent years helping thousands of businesses make that transition. Now, through this partnership we are unlocking even more potential of our digital tools by tapping into Boost’s vast user base to drive digital business for our merchants.”
The à la carte solution which was launched in early 2020 amidst the first Movement Control Order (MCO) has attracted a list of F&B merchants including Sushi King, Kenny Rogers Roasters and Dragon-I. à la carte has been integral in aiding business sustainability and helping businesses generate more revenue throughout the pandemic.
With the in-app feature, Boost users will now be able to access, order and pay for food delivery services offered by Revenue Monster’s F&B merchants via the app.
Commenting on the partnership, Mohd Khairil Abdullah, CEO of Boost, said “With more Malaysians already embracing a contactless lifestyle in this now normal, this partnership with Revenue Monster is timely. We will be able to give more options and greater convenience to our millions of users whilst boosting revenue streams for our F&B merchants.”
Boost users will also enjoy a special promotion this Ramadan season thanks to Boost. Between 13 April to 14 May, users who spend RM25 and above on food orders at selected vendors will automatically receive RM2 cashback. These merchants will also include some of à la carte’s selected merchants.
The new à la carte feature in Boost offers merchants the lowest platform fees at 18% for merchants. As an additional benefit to merchants this Ramadhan season, from now until 31 May 2021, merchants who sign up for a minimum of one year will also receive one payment terminal for free.
The partnership with Boost is the next step in Revenue Monster’s on-going strategy to drive synergy and collaboration across the digitalisation and eCommerce industry. This partnership comes on the heels of the recent announcement by Revenue Monster of a similar partnership with Alipay, a leading digital payment and daily life services platform.
“Synergy and collaboration will be the way forward for digital platforms and services. As the industry grows and usage proliferates, we must consolidate our offerings both to merchants and users. This will be our focus moving forward to bring our great digitalisation tools to as many platforms, merchants and users as possible,” added Amanda.
à la carte empowers businesses with tools to drive online sales by allowing businesses to create their own digital menus and stores that they can use on any digital or social platform. This works in tandem with the entire Revenue Monster’s ecosystem, to allow merchants to digitalise and manage their business operations, from handling payments through unified payment solutions, fast-tracking digital payments with one click payment links via eInvoice, to managing customer retention and engagement via social media chat tools.
The overall Revenue Monster platform has also benefited more than 6,000 merchant brands and close to 13,000 merchant points in food & beverage, fashion and accessories, home appliances, beauty/personal care, automobile and more.
Sign-up for the à la carte solution now and supplement business digital revenue by visiting www.revenuemonster.my.
Source: Revenue Monster (Press release)
