Rakuten Trade partners Boost to amp up rewards ecosystem
KUALA LUMPUR: Rakuten Trade Sdn Bhd has entered into a partnership with homegrown e-wallet Boost to amp up its rewards ecosystem focusing more on cashless transactions.
The collaboration will see Rakuten Trade shifting towards providing its digital retail investors with more immediate gratification through reward points being converted into affiliate rewards that can be turned into Boost e-wallet coins.
Rakuten Trade, which launched its Rewards EcoSystem in August 2017, issues an average of 4.3 million RT points monthly.
As at 31 December 2020, revenue generated from its rewards ecosystem stood at RM16.3 mil and has been on an upward trend each year.
Rakuten Trade chief executive officer Kazumasa Mise, said continuous evolution is crucial for Rakuten Trade’s business development and growth.
“The current environment has dictated the need for digital transations to be an integral part of our day to day existence.
“That is why Rakuten Trade has strategically joined hands with Boost, given our mutual synergy when it comes to digitalization and bringing meaningful rewards to our respective clients,” said Mise.
A key benefit of online Boost has been steadily gaining momentum since its launch in 2017, with close to nine million Boost users to-date making cashless payments for daily essentials at over 228,000 offline and online merchants nationwide.
Meanwhile, Boost chief executive officer Mohd Khairil Abdullah said this collaboration will drive interoperability between digital providers and push the envelope on Boost’s capabilities as an omni-channel platform that is both rewarding and functional, moving beyond just digital payments.
” With our constantly growing merchant network to choose from, Rakuten Trade customers will be spoilt for choice on where to spend their rewards,”said Khairil.
With this new partnership, Rakuten Trade clients can convert their RT points on a point to coin basis (1 RT point = 1 Boost coin).
Boost coins can be redeemed for everyday essentials like food and beverages, household items, groceries, bill repayment and even conversion into e-wallet cash.
Source: NST