AirAsia BigPay Receives Approval To Offer Online Loans

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

AirAsia Group CEO Tan Sri Tony Fernandes told Bernama that the B40 would be the biggest beneficiary of this service, although funding would be available for other groups as well. “The goal is to get the loans approved within minutes,” he said.

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

Other companies that have been approved 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 modernize the money lending industry and create a more conducive, secure, controlled and orderly business environment.

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

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