New Boost Merchant B2B wallet features licensed RM500,000 approval limit

The new Boost Merchant B2B wallet that has just been launched by Boost itself allows approved business owners to enjoy a wallet limit of up to RM500,000.

What features does the Boost Merchant B2B wallet have? 

Approval for the RM500,000 limit requires prospective applications to apply using their Business Registration number while individual merchants who register with their personal identity card can enjoy an RM30,000 wallet size.

With the new larger wallet limit, the Boost Merchant B2B wallet also has several new features such as QR code payment functionality as well as the ability to instantly settle payments and other expenses upon receipt to eliminate wait time. 

Sheyantha Abeykoon, Group CEO of Boost said, “We are very excited that our vision to build an ecosystem that allows our merchants to seamlessly transact across the B2B supply chain has come to fruition. With the recent approval from BNM for the Merchant B2B Wallet, we will continue our efforts to digitally empower businesses, especially amongst the underserved community through innovative fintech solutions that are unique to Boost. We hope that this will also positively contribute to the national economy by championing a digitally driven society and drive digital transformation for businesses of all sizes to be unstoppable.”

Commenting on the Instant Settlement and Payment feature benefits, CEO of Boost Biz, Eric Chong said, “We want to be able to give our merchants access to cutting-edge technology and convenient solutions within the Boost Biz app. Moving forward, our merchants can spend less time on making various business-related bill payments via multiple platforms and spend more time focusing on building their business operations. With the launch of our Merchant B2B Wallet, this further signifies that Boost is the only app you need to simplify your business.” For more details on Boost check out their official page here.