SINGAPORE/KUALA LUMPUR, MALAYSIA – 7 December 2023 – MatchMove, Southeast Asia's leading embedded finance enabler that acquired Shopmatic in 2022, announced a pivotal partnership with Nityo Infotech Services Sdn Bhd (Nityo) and Digital Perak Corporation Holdings (Digital Perak) to support the digitalisation of small and medium enterprises (SMEs) in the state of Perak in northwest Malaysia. This move aligns with the state's Perak Sejahtera 2030, under the Digital Economy Flagship programme, to push towards a modernised business landscape.
Perak State houses over 75,000 SMEs, constituting 8% of Malaysia's total number of SMEs. The integrated effort of Digital Perak, together with MatchMove's Shopmatic and Nityo, allows Perak's SMEs to expand their customer reach, grow their revenues, and deliver job creation in the digital economy for the local population.
The S.M.A.R.T Niaga @ Perak application by Digital Perak will be enhanced to become a more complete e-commerce platform for SMEs in Perak. Central to this application is integration with MatchMove's Shopmatic platform, offering a zero-code, intuitive interface designed for simple and rapid business digitalisation. Its wide-ranging features, from diverse payment channels and global shipping options to the efficient setup of branded webstores, underscore its adaptability and user-friendliness. The platform forms a bridge connecting traditional commerce to the huge opportunities of digital marketplaces, ensuring 24/7 online sales operations, an expanded customer base and efficient inventory management and customer communication.
Nicole Poon, COO of MatchMove's Shopmatic platform, said, "Our alliance with Nityo and Digital Perak marks a significant milestone in the digital evolution of local SMEs. Shopmatic brings a robust, user-friendly platform intricately designed to make the digital shift seamless. MatchMove amplifies this with embedded finance solutions, infusing financial agility into digital commerce. Together, we are not just offering tools, but we are providing a comprehensive ecosystem where SMEs can unlock new revenue streams, reach a wider customer base, and become more competitive in the digital age."
Mohamad Suhaimi Mohamad Tahir, CEO of Digital Perak, explained, "Despite SMEs making up over 97% of businesses in Malaysia and contributing almost 40% of our GDP, few have an online presence, with only one in three having digital implementation strategies. We have made headways through the initiatives under S.M.A.R.T Niaga @ Perak, but we believe we can take it further. With the power of the Shopmatic platform, our SMEs can easily create and manage their online stores. We believe this will significantly impact the local economy, with increased merchant sales and growth, and result in more efficiencies for them and more jobs as these companies expand."
Commenting on the partnership, Gummadi Rajasekhar, Country Head of Nityo, said, "We are proud to be working with Shopmatic to bring their leading global e-commerce expertise to Perak. The region is a progressive state with significant potential for growth in the digital economy. We are excited to be a part of this transformational journey, which will equip them with embedded digital tools and skills to scale and expand beyond Perak."
In addition to the digital commerce tools of MatchMove's Shopmatic platform, the company'sfintech platform enables the creation of embedded finance solutions, meaning SMEs can access and offer critical financial services, including payments, collections, remittances, and working capital loans, among others. MatchMove delivers a "Bank-in-Every-Shop" model, providing merchants with a holistic tool to manage their online sales and finances efficiently and easily. The platform's purpose-driven approach will enable SMEs to access funds and payments easily, reducing financial barriers to business growth and development.
Today, over one million merchants have benefitted from leveraging MatchMove's Shopmatic platform to supercharge their businesses.
MatchMove's Shopmatic platform is a leading global e-commerce platform that enables merchants to build and grow their businesses online. With a focus on simplicity and ease of use, Shopmatic offers an intuitive platform allowing merchants to create online webstores and sell their products and services to customers worldwide. Shopmatic Pay, powered by MatchMove, allows merchants to make payments to businesses that accept Mastercard.
MatchMove is a leading fintech infrastructure company, offering a range of innovative solutions that enable any business to embed and offer digital financial services to their end customers. The company's solutions include digital payments, virtual and physical card issuing and loan distribution, and are used by businesses of all sizes across Southeast Asia. Headquartered in Singapore, MatchMove has operations in 7 countries across South and Southeast Asia.
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Penta Asia, on behalf of MatchMove