How much is allocated for MY Smart Shopper merchants?

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RM10 Million Allocated for MY Smart Shopper Merchants

iSynergy Group has earmarked RM10 million specifically for merchants looking to join its universal retail loyalty programme, MY Smart Shopper (MSS). This allocation aims to incentivise merchant participation by offering them zero charges on a predetermined volume of transactions, with the exact amount varying based on the merchant's category. This initiative is part of a broader RM30 million fund established by iSynergy to support small and medium enterprises (SMEs) and aspiring entrepreneurs, while also aiding the nation's digitisation efforts in the current economic climate.
Incentives for Merchant Adoption

The RM10 million fund is designed to reduce the financial barrier for businesses to integrate with the MY Smart Shopper platform. Merchants signing up will benefit from a waiver of transaction fees for a specified number of sales processed through the MSS system. This measure is intended to encourage a wider array of retailers, from various sectors, to join the loyalty programme, thereby expanding its reach and utility for consumers.
Support for Consumer Spending

Beyond merchant incentives, iSynergy is also dedicating RM4.5 million to enhance cashback and rewards for consumers participating in the MY Smart Shopper programme. This consumer-focused allocation aims to stimulate spending by offering savings of between five and eight per cent on purchases made through MSS, whether conducted online or at physical stores. This dual approach of supporting both businesses and consumers underscores iSynergy's strategy to revitalise retail activity.
Broader Digitalisation and Entrepreneurship Support

The MY Smart Shopper merchant allocation is situated within a larger RM30 million commitment from iSynergy. This comprehensive fund also includes RM15.5 million for a 50 per cent subsidy on fees for entrepreneurs joining Affiliate Junction (AJ), a digital platform focused on affiliate marketing and skill development. Furthermore, iSynergy is developing MSS Mall, a social e-commerce platform set for a third-quarter launch, which will provide offline merchants with e-commerce capabilities and offer consumers savings of up to 60 per cent through group and bulk purchases.

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How much is allocated for MY Smart Shopper merchants?

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