CelcomDigi x Boost Beyond: Malaysia’s first prepaid card with Buy Now Pay Later

There are currently several prepaid payment cards in Malaysia which are linked to an eWallet and here comes something different from Boost. CelcomDigi and Boost have introduced a new Beyond Mastercard Prepaid which claims to be the first in Malaysia to offer Buy Now Pay Later (BNPL). The card allows you to shop at merchants worldwide and pay in 3 instalments.

Beyond card uses either Boost Wallet or PayLater Credit

According to Boost and CelcomDigi, the Beyond Card is the first two-in-one international card in Malaysia which allows users to spend from their Boost eWallet or utilise a pre-approved credit line for PayLater. The card is accepted by over 100 million merchants worldwide where Mastercard is accepted.

The Beyond Card is said to offer Shariah-compliant flexible payments via a credit facility which is also known as Boost PayFlex in a responsible manner. Boost says it uses robust scoring techniques to ensure those who are given the credit line have the ability to repay. It added that the feature addresses financial inclusion gaps, targeting customers without cards or with basic ones by offering them a premium experience.

Boost PayFlex allows users to pay in 30 days or stretch payments by up to 3-month instalments while earning up to 3x Boost Stars for each ringgit spent. These Boost Stars are redeemable for savings and discounts through the BoosttUp Loyalty Programme.

The Beyond Card is also described as the first in Malaysia and Southeast Asia to offer Mastercard Travel Rewards where qualified customers can enjoy rewards such as 12% cashback from Lazada, 15% off Malaysia Airlines bookings and up to 10% savings, complimentary gifts and 10% tax-free at Mitsui Outlet Park.

Before making a payment, users can choose the “Source of Fund” between Boost Wallet and Boost PayFlex within the app. You can do this under Beyond Card Dashboard > Source of Funds.

Beyond card is now only available for selected customers

Unfortunately, the Beyond card isn’t open to everyone just yet and it is only offered to eligible customers. Select customers will be invited to apply for the card from today, 9th October 2023 with Celcom users getting exclusive access to apply via the Boost app, followed by Digi users at a later time. According to the FAQ, the card is open to Malaysians aged 21 years and above, who are a Boost customer as well as a Celcom Prepaid or Postpaid customer of a selected user base.

For the PayLater credit line, the eligibility and limits are subject to the individual customer’s credit score based on Boost Credit’s algorithm and scoring criteria. It added that identified customers will be eligible for the Boost Beyond Card and CCRIS scoring will be conducted on Celcom customers as additional input on their credibility.

Beyond Card Fees and rates

By default, Beyond Card holders will be issued a virtual card which can be used immediately for online transactions. However, if you want the physical card, you’ll have to pay RM20 for it. Users who complete the physical card application will get up to RM100 worth of rewards such as discount vouchers from Lazada, Agoda, Gong Cha, Google Play Store, Viu, The Alley and more.

There are no annual fees but the card has an overseas transaction fee of up to 2% of the transaction amount when charged in foreign currency.

For Boost PayFlex, the card charges a Wakalah Fee on the 1st instalment due date and the due date of Pay in 30 days. If you choose to pay in 30 days, the Wakalah Fee is 4% of the transaction amount or RM5.00 (whichever is higher), up to RM10 per transaction. For the instalment option, it is a flat fee of RM10 per transaction.

There’s also a Profit Rate of 2.5% of the transaction amount if you choose the PayLater Instalment option and this is payable on each instalment due date. This isn’t applicable if you choose to pay in 30 days. If you miss a payment, you will have to pay a late payment charge of 1% per annum calculated on a daily basis.

The minimum amount to use PayFlex is RM5 for Pay in 30 days and RM100 for instalments up to 3 months.

For more info, you can visit the CelcomDigi Boost Beyond Card page.