Malaysian eWallet player Boost has partnered with Penang-based Sunshine Wholesale Mart Sdn Bhd (Sunshine) to launch a new innovative solution that digitises the latter’s employee benefits system using the former’s eWallet technology.
According to Boost’s press release, this latest innovation stemmed from Sunshine’s desire to pivot towards digitising different aspects of their business to increase efficiency. The launch event was attended by the Chief Minister of Penang, Chow Kon Yeow and Member of Parliament for Bayan Baru, Sim Tze Tzin.
Sunshine, which has been in operation for over 50 years, sees the rapidly changing business landscape as a clear indicator that it needs to embrace digital as the way forward. Under the new digitised system, Sunshine’s employee Cost of Living Allowance (COLA) and staff allowance are now disbursed in a simple, seamless and secure manner through a dedicated ‘Partner Wallet’ within the Boost app.
The new solution will be made available to Sunshine’s 233 employees across its six supermarkets and 12 convenience stores located in 8 MNC factories, worth about RM500,000 in total on an annual basis.
The newly launched Partner Wallet by Boost will replace Sunshine’s existing COLA and staff allowance that was previously given in the form of physical vouchers. Sunshine said the new system would enable its employees to keep track of their benefits and settlements in one place.
Sunshine said it is the first company in Malaysia to utilize Boost’s Partner Wallet feature, marking this collaboration a significant industry milestone for both Boost and Sunshine, and is also in line with the Penang state government’s aspirations towards becoming a cashless society by 2030.
Boost said it is committed to helping businesses and individuals capitalize on technology by continuously innovating and developing new use cases as well as features that add value and give Malaysians – both consumers and businesses – a strong case to embrace digital payments and financial services.