AirAsia BigPay Receives Approval To Offer Online Loans

AirAsia BigPay Receives Approval To Offer Online Loans

AirAsia’s BigPay and seven other companies have received approval from the Ministry of Housing and Local Government (KPKT) to provide online loans. This was announced during the ministry’s online money lending guidelines virtual session, held on November 13, 2020.

AirAsia Group chief executive officer Tan Sri Tony Fernandes told Bernama that the B40 will be the biggest beneficiary of this service, although the financing would also be available to other groups. “The aim is to get loans approved in minutes,” he said.

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He also added that there are plans to build AirAsia into a ‘super app’ – not just one where you can buy flights. “We’re adding more and more services, a one-stop shop — we have fintech, e-commerce, and we have some other products coming along,”

The other companies that have gotten approval to provide online loans are Axiata Digital Capital Sdn Bhd, Grabfin Operations (M) Sdn Bhd, GHL Payments Sdn Bhd, Presto Credit Sdn Bhd, JCL Credit Leasing Sdn Bhd, Fortune Tree Capital Sdn Bhd and Hoop Fintech Sdn Bhd. With the new guidelines, KPKT hopes to modernise the money lending industry and create a more conducive, secure, controlled and orderly money lending business environment.

[Source: Malay Mail; header image via Vulcan Post]

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