What is Micro-Financing?

Micro-financing aims to provide small loans and financial services to entrepreneurs who lack access to traditional banking services. In doing so, entrepreneurs are able to borrow small loans to make a purchase and repay it over time. This opens up a world of opportunities for businesses to expand.

How do I integrate Micro-Financing to my collection and payment portal?

Before you are able to add Micro-financing to your SwiF Payment Gateway portal, you will need to be on-boarded by Funding Societies. Choose Funding Societies in the option and follow the steps.

How does it work for my customer?

As a merchant you need to click on the Funding Societies option for Micro-financing. You will be redirected to the Funding Societies page, where you will undergo a separate onboarding and due diligence process by Funding Societies. Once you have received the approval by Funding Societies, you will be allocated the approved funds, which you can then offer as payment options to your customers. The repayment amount and payment terms will then be arranged directly between Funding Societies and yourself as the merchant.

Who is Funding Societies?

Funding Societies Malaysia has been at the forefront of this new model and provides SMEs all over Malaysia with Micro-financing options to best fit their needs and support their growth. SwiF Payment Gateway integrates with Funding Societies Malaysia to offer the Micro-financing collections option on its platform.

RECEIVE PAYMENTS

Micro-Financing

Micro-financing has emerged as a powerful tool for businesses, particularly SMEs, to fuel their growth and overcome financial barriers. At its core, micro-financing aims to provide small loans and financial services to entrepreneurs who lack access to traditional banking services and fuels expansion, job creation, and economic development.

Incorporating micro-financing collection options into your B2B2C business can drive growth, increase customer satisfaction, and mitigate financial risk, ultimately leading to your long-term success.

Higher Accessibility

Increased Sales and Revenue

Improved Customer Loyalty

Risk Mitigation

Become A Merchant

Why Your Business Should Offer Micro-Financing

Increased Sales Volume

Micro-financing options enable customers to afford higher-priced products or services by spreading payments over time. This can result in increased sales volume as customers are more likely to make purchases when they can pay in instalments.

Improved Customer Loyalty

Offering Micro-financing options fosters stronger relationships with customers by providing them with flexible payment solutions tailored to their financial circumstances. This can lead to increased repeat business and higher customer satisfaction levels.

Enhanced Customer Acquisition

By providing Micro-financing collection options, your business can attract a wider range of customers who may not have the means to make large upfront payments. This enables you to expand your customer base and increase your market penetration.

Reduced Financial Risk

By diversifying payment options and spreading risk across a larger customer base, businesses can mitigate the financial risk associated with offering credit. This helps protect against potential losses from non-payment or default.

Competitive Advantage

Offering Micro-financing collection options sets businesses apart from competitors and positions them as more customer-focused and inclusive. This can give them a competitive edge in the market and attract customers who value flexibility and affordability.