Islamic digital bank AEON Bank has joined forces with foodpanda Malaysia to expand financial access for customers, riders, and merchants across the region.
Through this B2B partnership, AEON Bank and foodpanda seek to boost digital banking adoption among their combined stakeholders and support Malaysia’s gig economy via advanced fintech solutions while also promoting financial inclusion.
Expanding financial services across Malaysia
The Memorandum of Understanding (MoU) between the two companies underlines a broad scope of collaboration, including customer acquisition, digital financing, joint campaigns, and value-added services for their wider ecosystem of customers, riders, merchants, and business partners. The collaboration intends to contribute to the country’s growing food delivery and online grocery sector, where user penetration is projected to grow substantially in the upcoming period.
Furthermore, the partnership will see AEON Bank and foodpanda introduce a variety of initiatives to support delivery riders in improving their mobility and livelihood, including access to the former’s digital banking offering, financial tools, and essential work resources, such as microfinancing for devices and motorcycle purchases and financial literacy programmes to scale outreach and financial enablement among users.
When it comes to merchant partners, the two companies plan to provide targeted campaigns and financial solutions through AEON Bank to business (AB2B) programme and financing for wholesale purchases, allowing inventory expansion and business growth. On the other hand, customers will benefit from rewards and promotions while also adding value to their foodpanda orders. Additionally, they will receive access across the AEON retail ecosystem, thus enabling them to purchase groceries online beyond AEON MaxValu Prime.
Working together underlines a shared commitment between AEON Bank and foodpanda Malaysia to optimise the financial well-being of the community while also advancing innovation and assisting the region’s socioeconomic development through digital inclusion. Both companies plan to utilise each other’s capabilities, based on their strategic vision to offer value, customer-centric digital financial solutions that can facilitate dynamic growth.
