Fave has launched Growth Malaysia to help 100,000 restaurants across Malaysia grow digitally by 2020. Grab, Maybank, MDEC, Funding Societies and Productivity Nexus for Retail & F&B have collaborated with Fave for Growth Malaysia, which aims to help offline retailers in Malaysia go digital from payments, marketing, data, and financial services.
According to the press statement, Growth Malaysia’s collaboration partners have begun expanding and offering more value add to restaurants owners, including cashless and mobile payments; digitising loyalty cards, coupons, and gift cards; food delivery and ordering; providing data and insights; and enabling easier access to financial services.
Fave’s founder, Joel Neoh, said the company’s mission is to help local businesses grow by going digital and it is actively working with over 20,000 SME entrepreneurs across Malaysia, Singapore, and Indonesia.
“With Growth Malaysia, we are investing further towards the digitalisation and growth of offline businesses in Malaysia and we believe that the most efficient and effective way to achieve this is to collaborate with businesses and organisations of the same values and goals, working together towards digitising Malaysia’s SME ecosystem,” Neoh added.
Minister of Entrepreneur Development YB Datuk Seri Mohd Redzuan said Growth Malaysia is in line with the ministry’s mission to widen and coordinate entrepreneurial activities to be more targeted, inclusive, encompassing all segments of society.
“I am extremely glad to see giant private entities such as Fave, Grab and Maybank working together with government agencies for the betterment of the nation’s economy and to help improve the industry as a whole. With that, I strongly urge offline retailers to seize this opportunity to further expand their businesses,” he added.