KUALA LUMPUR, Oct 1 — Malaysia’s top e-commerce platform Shopee and Visa Inc signed a strategic partnership today to boost the presence of both companies in the region.

The five-year deal will see Visa and Shopee band together to provide offer micro, small, and medium enterprises (MSME) a financially secure platform to sell their products.

A joint statement released by Shopee and Visa said in turn, these MSME’s would be provided with marketing campaigns to drive awareness, traffic and the visibility of their businesses within the local and regional digital market.

Other initiatives coming from the agreement will see co-branded credit cards launched in collaboration with local banks here, while creating unique user experiences for Shopee’s customers, through Visa’s sponsorship platforms.

Advertisement

Shopee’s chief operating officer Terrence Pang said the move will bump up Shopee’s image as a major enabler to allow MSMEs to capitalise on technology and grow their businesses.

“We are looking forward to working closely with Visa to leverage their extensive and secure network to make it easier for sellers to digitalise, particularly those in tier-two cities and rural areas.

“Our shoppers will also benefit with a more convenient and rewarding experience that will encourage purchases and spur the growth of the economy,” Pang said in the statement.

Advertisement

Visa’s Asia Pacific Head Merchant Sales and Acquiring Nell Mumm said the move will drive smaller businesses to adopt digitised payments, a method rapidly being adopted by many entities in response to the Covid-19 pandemic.

“Visa is looking forward to working with Shopee to extend access to the digital economy for small businesses across South-east Asia.

“Our expanded partnership with Shopee is one of the exciting ways Visa is supporting small businesses as they recover and look towards future growth,” said Mumm.