New Delhi Snapbizz: Snapbizz, which provides technology solutions to neighborhood grocery stores, has partnered with Indonesia’s Boost – the fintech arm of Axiata Digital – to meet the digital financial needs of mom-and-pop stores in Indonesia.
“Snapbiz has provided its solutions to thousands of stores in India and is now expanding its solutions to Indonesian retail,” the company said in a statement.
This includes customized POS systems, purchase portals and invoice financing as per the specific needs of retail traders within the Indonesian market.
Snapbiz plans to roll out its digital financial offerings to other countries in Southeast Asia over the next year as well.
“Small retail stores are the backbone of Indonesia’s growing retail economy and will benefit immensely from easy access to our customized suite of digital solutions. Prem Kumar, Founder and CEO of Snapbiz, Prem Kumar, is a leader in driving change through inclusive growth and digitization. We are also excited to be selected by Boost as their business partner to build the embedded finance platform.
Boost is the fintech arm of Axiata Digital that provides financial services spanning payments, Artificial Intelligence (AI)-based alternative lending, digital insurance, cross-border content services and merchant solutions. It provides services like e-wallet, payment platform for enterprises as well as micro-financing and micro-insurance for merchants.
The partnership with Snapbiz is an important step in promoting financial inclusion at various levels of entrepreneurs in Indonesia and the region, said Boost CEO Sheyantha Abekoon.
Snapbizz works with neighborhood mom and pop stores with a network of over 50,000 stores in India.
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