Ensuring business resilience for micro-SMEs

How Green Packet uses technology to drive social impact for the underserved micro-SME segment

Over the past year, Small and Medium Enterprises (SMEs) have had to tough it out and adapt accordingly to survive amidst the lockdowns that ensued during the pandemic, while the ones who remained resilient were the ones who were quick to pivot to digital solutions or innovated to find new ways to stay afloat.

While larger SMEs were recognisably swifter or already had one foot in the door in their digitalisation journey, more traditional and micro enterprises may not have a clear route to map out their way towards becoming digitally empowered in this equally challenging period. This is where technology solutions companies like Green Packet Berhad seek to empower SMEs to take the first step towards digital transformation, so they are not left behind in the digital economy.

Providing SMEs with a digital leg up

As Malaysia undergoes the latest iteration of a full movement control order (FMCO) in a bid to flatten the curve once more, SMEs are once again challenged to innovate their capabilities to ensure continuity. Since the decision to enforce the FMCO, some 91% of SMEs expect business revenue to be affected while 37.5% expect a drop of more than half in business performance due to operating restrictions according to a recent survey by the SME Association of Malaysia. The dreaded question therefore continues to plague the minds of SME owners – will they be able to ride out another storm?

Built on the core of offering technology solutions to enable local communities to thrive, Green Packet answers the call with a reinforced commitment to helping underserved SME segments find their place in this uncertain landscape and remain competitive.

The group, through its wholly-owned subsidiary Kiplepay Sdn Bhd – an approved issuer of designated payment instrument by Bank Negara Malaysia - powers kiplePay, a financial technology solutions provider aimed at helping consumers, businesses, service providers and governments conduct cashless transactions online through its e-wallet products.

The events of last year catalysed the shift to digital and businesses heeded the call to go online, but many have yet to fully grasp and maximise the true potential of digital transformation. Kiplepay aims to change this by introducing various opportunities businesses can make the most of beyond just going online. To empower long-term business continuity of these SMEs, Kiplepay is continuously innovating and introducing end-to-end ecosystem of solutions created with the welfare of SMEs in mind to meet them where they need it most and help them further escalate their digital transformation.

Using Kiplepay’s range of solutions, here are some ways SMEs can improve on their efficiency and productivity even when staying afloat feels like an uphill task.

Providing cashless options for the SMEs’ customers

While some businesses may be able to operate 100% online, some SMEs still have to rely on the traditional brick and mortar to sell their wares. With physical distancing SOPs set in place, digital payments have become the preferred mode of transaction. Acknowledging this, Kiplepay recently joined hands with the operator of mobile application Selangkah Biz to make the transition from physical to digital payments a smoother one for SMEs who may not have the budget or knowhow for a typical payment terminal.

Through this partnership, micro business owners such as hawkers, traders and market stall owners can simply sign up as a Selangkah Biz merchant and their own mobile device could then be used as a payment terminal where their customers merely had to scan the corresponding QR code for their preferred mode of payment, including paying through the kiplePay e-wallet to complete the transaction.

Using online payment gateways to streamline operations and increase productivity

After providing cashless options for their customers, some businesses may want to streamline their operations further with slightly more advanced payment systems to cater to their needs.

Through the kipleBiz payment gateway, SMEs can now do so without any hassle. The payment gateway is a convenient payment system that offers SMES to connect to kipleBiz on a single API which provides multiple payment collection options which includes kiplePay e-wallet and other wallets, Credit or Debit Card and Internet Banking.

The payment gateway not only helps with cashflow but provides their customers the ability to make digital payments through a range of e-wallets or online payments. For a smoother transition, this payment gateway can also be integrated with the SME’s existing website or applications for ease of operation. Merchants are also given live access to a reporting dashboard via the kipleBiz platform to view reports or to even reverse a charge.

Fast-tracking permit renewals for business continuity

As the FMCO reintroduces tighter restrictions to curb the spread of the virus, renewing business permits may be a challenge as travel is greatly limited. This could cause SMEs distress as they may not be able to operate legally thus affecting income.

Kiplepay, in collaboration with the Perak government to digitalise business owners in the state with Digital Perak, has introduced new e-mall features within the app for contactless permit applications and renewals, removing the hassle of physical registration and face-to-face communication. Approval times are also shortened so these businesses are able to attain the necessary licenses to operate quickly and work on bringing in their much needed income.

It is important for SMEs to fully understand the digital amenities being offered within the state’s provisions so that they can benefit from the digital ecosystems set in place for their advantage.

>These digital offerings are just some of the ways Green Packet’s subsidiary Kiplepay is helping to bring digital and social impact to underserved businesses and communities who may not necessarily be able to achieve such digital efficiency on their own, without any guidance.

Working with underserved micro-SMEs over the years has provided Green Packet with a deeper understanding of how to help these businesses in these unique times to make a difference through our technology solutions.

Investing in businesses now for a more connected future

>A digital ecosystem can only be complete if each and every contributing business and individual is able to participate in it, and Green Packet believes in investing in the futures of these underserved SMEs to move one step closer towards achieving digital and socioeconomic equality for all for a digital Malaysia. Green Packet’s goal of creating transformative impact for all began long before the pandemic accelerated the shift to digital, and the company now has a bigger task ahead to drive change with greater investment and prioritisation of building life-improving digital innovations.

Note: The Chinese version is available here.