BigPay brings cash top-ups to customers across Malaysia

• Users can top-up BigPay accounts at 7-Eleven stores across Malaysia
• Claims to have 1.3 million users in the country; intends to expand in more Asean countries

FINTECH platform BigPay has announced that it is expanding its range of financial services with the launch of its cash top-up service, which will be available at over 2,400 7-Eleven stores across Malaysia.

“Ensuring that everyone has access to digital banking services is central to our mission and allowing cash to be seamlessly transferred to a BigPay account is a big step in that direction,” said Salim Dhanani, co-founder of BigPay, in a statement.

“7-Eleven has more locations than most banks have branches in Malaysia. This gives BigPay a unique advantage when it comes to providing financial services across the country.”

Launched in 2018, BigPay claims to have grown to over 1.3 million users. The platform touts the ability for users to easily open an account from their mobile phones and make payments at any local or international merchant.

They can also make free and instant money transfers to friends, split bills, manage expenses and track spending, all via one integrated app which can be downloaded for free via Google Play and Apple’s App Store, the company said.

According to Dhanani, BigPay provides all consumers access to mainstream financial products usually only offered by retail banks but at much lower costs and with unprecedented efficiency.

“We want to remove physical and monetary barriers preventing people from better managing and using their finances,” he explained.

“Our successes to date provide a robust foundation for us to solidify our footprint in new markets and product lines in the year ahead.”

BigPay said it intends to grow in more Asean countries during the course of the year. The company is looking at launching a range of new products, including personal loans, insurance and wealth management.

It has also expressed interest in applying for a digital banking license in Malaysia and other markets and is actively evaluating the right approach.

As part of its regional expansion, BigPay launched its services in Singapore in September 2020.