SMESoutheast Asia

BSN partners with Visa to boost e-commerce amongst micro-SMEs in Malaysia

Aliza Carmona - August 8, 2023

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Malaysia – Bank Simpanan Nasional (BSN) has announced their partnership with Visa to kick-start a collaboration focusing on enabling e-commerce for micro, small, and medium enterprises (MSMEs).

Through this strategic partnership, BSN and Visa have committed to nurturing micro-SMEs in a digital commerce training program called ‘Accelerate My Business’ (AMB). The training intends to drive the adoption of digital disbursement solutions, which will provide micro-SMEs with better financial literacy to explore more significant financing to boost their businesses.

According to BSN, the AMB training program will be divided into two module workshops aimed at digitizing the knowledge of 750 selected BSN micro-SMEs and empowering them for the next phase of their business journey.

This comprehensive initiative will run from August 2023 until March 2024, incorporating a total of 27 sessions conducted across 13 different locations nationwide, encompassing both the Sabah and Sarawak regions.

During these workshops, micro-SMEs will be equipped with essential entrepreneurial skills, covering diverse areas such as business management, financial literacy, operational efficiency, and digitalization strategies. Additionally, the AMB learning platform will play a crucial role in providing practical guidance to the participants by offering various resources. This includes interactive activities, worksheets, self-assessment tools, glossaries, and supplementary materials to support them throughout their entrepreneurial journey.

The program will also be categorised based on the entrepreneurial expertise of the participants—beginner and seasoned stages—to ensure that their diverse needs will be catered to.

Jay Khairil, chief executive of BSN, stated that by staying true to their vision of ‘No Malaysian Left Behind,’ BSN remains mindful of the community’s needs by diversifying our product and service offerings tailored to various segments.

“We have also integrated financial education resources and programs within our services to ensure our customers can access vital financial insights and practical advice. Hence, the strategic partnership with Visa is timely and coincides with our aim to drive digital transformation among micro-SMEs for enhanced operational efficiency and competitive advantage in today’s dynamic business landscape,” he added.

Meanwhile, Ng Kong Boon, country manager for Malaysia at Visa, shared that Visa sees micro and small businesses as the backbone of the Malaysian economy.

He further emphasised the importance of the partnership, saying that “we are pleased to partner with BSN as we share a common goal in empowering these enterprises with resources and tools to uplift their businesses and livelihoods, ultimately creating a ripple effect throughout their communities. By continuing to build on this foundation with greater financial and business knowledge, we can help them find new growth and thrive.”