Kajang, Selangor, July 16, 2024 – Launched in January 2022, QMIS Richwood Pay (QRPay) has rapidly established itself as a leading e-wallet in Malaysia, boasting a user base exceeding 30,000. Amidst a highly competitive market, particularly against established players like Touch ‘n Go (TnG), QRPay has carved out a unique position as the preferred e-wallet for O2O QR Panpay Holdings Sdn Bhd, a prominent multilevel marketing company in Malaysia.
QRPay is linked to a Mastercard, granting users seamless global access to their funds, enhancing convenience for frequent travelers.
In a continuous effort to enhance its services, QRPay has forged a strategic partnership with a leading technology provider in cloud services. This collaboration aims to provide crucial IaaS support, empowering QRB in its mission to democratize access to advanced financial instruments through blockchain technology. This collaboration marks a significant step towards making sophisticated financial services accessible to a wider audience, leveraging the synergy between technological expertise and QRPay’s innovative vision.
As part of this collaboration, QRPay soft-launched a digital microloan platform, “SmartPinjam,” on June 25, 2024, at Bangi Avenue Convention Centre. This new feature aims to provide users with convenient access to microloans, further enhancing the utility of the QRPay app.
Microfinance, also known as microcredit or microloan, is a financial service designed for low-income individuals or groups who typically lack access to traditional banking services. These loans can be used to start small businesses or for capital expenditures. The global microfinance market was valued at an estimated USD 187 billion in 2022 and is projected to exceed USD 488 billion by 2030.
The benefits of microfinance extend beyond simply providing access to capital. Entrepreneurs who establish successful businesses can create jobs and stimulate trade, thereby benefiting their communities. Moreover, low-income individuals can leverage microfinancing to build and improve their credit scores, potentially qualifying them for bank loans in the future. Ultimately, the goal of microfinance is to empower impoverished individuals to achieve self-sufficiency.
As QRB continues to upgrade and update the QRPay app, it envisions QRPay becoming the go-to e-wallet app for all users. With a focus on continuous innovation and user convenience, QRPay is poised to redefine the e-wallet landscape in Malaysia, offering unparalleled features and services to its growing user base.
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QMIS Financial Group
Source :QMIS TBS Capital Group Corp