Bank Simpanan Nasional and Visa MY join forces to boost eCommerce capabilities for SMEs

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Bank Simpanan Nasional (BSN) has partnered with Visa to kick-start a collaboration focusing on enabling eCommerce for micro, small-and-medium enterprises.

Through this partnership, BSN and Visa have committed to nurturing micro-SMEs in a digital commerce training program called ‘Accelerate My Business’ (AMB), through which they can 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.

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According to BSN, the training programme will be divided into two module workshops aimed to digitise the knowledge of 750 selected BSN micro-SMEs, empowering them for the next phase of their business journey. The initiative comprises a total of 27 sessions conducted across 13 different locations nationwide. The training will commence from August 2023 until March 2024.

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

CEO of BSN, Jay Khairil, said that staying true to its vision of ‘no Malaysian left behind’, BSN has aimed to mindful of the community’s needs by diversifying its product and service offerings which are tailored to various segments. “We have also integrated financial education resources and programmes 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," Jay added.

Ng Kong Boon, Visa Malaysia’s country manager for Malaysia, said that Visa sees micro and small businesses as the backbone of Malaysian economy.

“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,” he explained.

On the leadership front, Visa bolstered its leadership in April this year with two senior appointments in the APAC region. Chris Clark was elevated from regional president to chairman, Asia Pacific, and Stephen Karpin is named as his successor as regional president, Asia Pacific.

In the role of chairman, Asia Pacific, Clark is supporting regional and global initiatives, including strategic engagements with government and industry stakeholders, while driving Visa’s market expansion strategy and continuing his role as a non-executive director of the Visa Europe Board.

Over the last ten years as regional president for Visa Asia Pacific, Clark has been committed to expanding the reach of electronic payments and growing the business by forging strong client and partner relationships, driving digital innovation in the regional payments ecosystem and building new partnerships with established and start-up fintechs, according to Clark.

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