BigPay to offer credit to lower income, unbanked segments with Community Credit Licence

Tan Sri Tony Fernandes, CEO of AirAsia Group receiving on behalf of BigPay Later Sdn Bhd the Community Credit Licence from Yang Berhormat Puan Zuraida Kamaruddin, Minister of Housing and Local Government at a presentation ceremony in Putrajaya last Friday (13 November 2020).

KUALA LUMPUR, 18 November 2020 - BigPay, the fintech arm of airasia Digital, is set to offer more financial services including credit to the B40 and M40 income groups, especially the unbanked and under-banked segments. 

Having received its Community Credit Licence from the Ministry of Housing and Local Government Malaysia (KPKT), BigPay aims to start offering loans to small businesses, entrepreneurs and individuals at affordable rates via the BigPay mobile app (bigpayme.com) from early next year.

Tan Sri Tony Fernandes, CEO of AirAsia Group said, “I would like to say thank you to the Minister of Housing and Local Government, YB Puan Zuraida Kamaruddin for all the efforts that she and her team have put in to enable lending licences. This is groundbreaking for Malaysia, especially at this time and it is very exciting to see that we are able to offer lending services via BigPay’s digital app. I would like to also assure that BigPay will abide by all the conditions, laws and regulations provided by the Ministry in implementing and running the financial services.

“Nineteen years ago, Kamarudin (Executive Chairman of AirAsia Group, Dato' Kamarudin Meranun) and I started the airline with the slogan ‘Now Everyone Can Fly’. Fast forward to today, we are thrilled with BigPay’s achievement. It is a big day for us to receive the lending licence and now we are able to offer financial services to everyone including small and medium businesses (SMEs). AirAsia is always here to help the community and I am very happy to be able to offer the lending service to the people,” added Tony.

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