Snapbizz, which provides technology solutions to neighbourhood grocery stores, has teamed up with Boost, Axiata Digital's fintech arm in Indonesia, to meet the digital financial needs of mom-and-pop shops.
"Snapbizz has given its solutions to thousands of stores in India and is now expanding its solutions to the Indonesian retail sector," according to a statement from the company.
This includes POS systems, a procurement portal,
and invoice financing, all of which are tailored
to the needs of retail merchants in Indonesia.
Snapbizz plans to expand its digital financial services to other Southeast Asian countries over the next year.
"The backbone of Indonesia's growing retail economy is small retail stores, which will greatly benefit from easy access to our customised suite of digital solutions."
Prem Kumar, founder and CEO of SnapBizz, added, "We are also excited to be chosen by Boost as its business partner to create an embedded finance platform to drive inclusive growth and change through digitisation."
Axiata Digital's fintech arm, Boost, offers a range of financial services, including payments, AI-based alternative lending, digital insurance, cross-border content services, and merchant solutions. It provides e-wallets, a payment platform for businesses, as well as merchant micro-financing and micro-insurance.
According to Sheyantha Abeykoon, CEO of Boost, the partnership with Snapbizz is essential to promote financial inclusion across various levels of entrepreneurs in Indonesia and the region.
Snapbizz collaborates with local mom-and-pop shops and has a network of over 50,000 stores in India.