KUALA LUMPUR, April 17 — Homegrown lifestyle e-wallet Boost has been named as part of International Data Corporation (IDC) Financial Insights’ 2020 FinTech Fast 101 list of fast-growing fintech companies in the Asia/Pacific region.

IDC Financial insights Asia/Pacific FinTech Fast 101 is a list that highlights fast-growing fintechs in Asia/Pacific in terms of their ubiquity, utility and usability.

Boost was included in the IDC Financial Insights Asia/Pacific FinTech Fast 101 list based on extensive on-ground analysis of fintech players across 11 key markets in the Asia/Pacific region.

"We are proud and honoured to be recognised as one of the fastest growing fintech players by IDC. This is a testament to our commitment and tenacity in revolutionising the way consumers transact on a daily basis, solving every day cash-related pain points,” said chief executive officer Mohd Khairil Abdullah in a statement today.

He added that with the recent e-Tunai Rakyat initiative and following the movement control order (MCO) to contain the Covid-19 outbreak, the company expects to continue growing rapidly to cater to the evolving needs of Malaysians.

Mohd Khairil said Boost is gearing up to continue on its growth trajectory as the company sees more Malaysians transition to going cashless following a recommendation by the World Health Organisation to switch to contactless payment methods such as e-wallets to curb the spread of Covid-19.

He noted that Boost has been at the forefront of digitising and building a robust cashless payment landscape in Malaysia.

"Some of the industry firsts developed by Boost include providing convenient payments solutions for public health services, insurance payments, street parking and e-donation, including the recent ‘Tabung Covid-19 by Boost’ to aid frontliners and families affected by the outbreak in the fight against the pandemic,” said Mohd Khairil.

Established in January 2017, Boost, an e-wallet by Malaysians, has been leading the charge for a cashless society in the country. In just three short years, it has over 7.3 million users and over 152,000 merchants nationwide, online and offline. — Bernama