U MOBILE UNVEILS A COMPREHENSIVE FINTECH ECOSYSTEM WITH DIGITAL FINANCIAL SERVICES CONSISTING OF GOPAYZ AND GOBIZ
KUALA LUMPUR, 17 June 2019

KUALA LUMPUR, 17 JUNE 2019 – U Mobile Sdn Bhd (“U Mobile”), the data-centric and multiple award-winning telco, today announced that it would be rolling out a fintech ecosystem this July. The comprehensive ecosystem will be the telco’s first foray into the fintech world and it consists of two distinct platforms, GoPayz and GoBiz. GoPayz is a universal e-wallet offering digital financial and lifestyle services targeting consumers while GoBiz is a digital payment acceptance solution created to benefit all types of businesses. U Mobile aims to make fintech services a lot more accessible, affordable and inclusive.

GoPayz’s distinct features are as follows:

  1. Affordable Digital Financial Services – A wide range of insurance, online currency exchange, and wealth products tailored based on individual needs. For example, the micro insurance product GoLife Plus features premiums as low as RM13 per month, with coverage of up to RM 76,000.
  2. Widely Accepted Anywhere – From online to retail, make payments anywhere locally and overseas via GoPayz’s Mastercard, UnionPay, Visa virtual and physical cards.
  3. Accessible Anytime – Customers can perform everything at their convenience via mobile app.
  4. Rewarding – Earn GoPointz loyalty points from various transactions and receive surprise rewards for qualifying transactions.
  5. Secure and Safe – All transactions are performed in a safe and secured manner in accordance to regulatory and card scheme standards.

As for GoBiz, the digital payment acceptance solution platform is designed to benefit all businesses, big or small. The key features of GoBiz are as follows:

  1. Hassle Free Application Process - Approval within 3 working days.
  2. Customised Solutions – Businesses can digitise their payment acceptance with solutions such as mobile point-of-sale (mPOS), or mobile virtual terminal (MVT).
  3. Wide Acceptance – GoBiz partners with Mastercard, UnionPay and Visa giving merchants the flexibility to accept payments from local and international customers.
  4. Opportunity to Increase Revenue – GoBiz merchants may opt for additional revenue-generating services such as telco prepaid top-ups, bill payments and even game points to offer to their customers.
  5. Secure and Safe – All transactions are performed in a safe and secured manner in accordance to regulatory and card scheme standards.

During the media briefing, Jasmine Lee, CMO of U Mobile, explained that GoPayz is a significant milestone not just for U Mobile but for the fintech industry. “With GoPayz, we can now offer affordable digital financial services to everyone. We have GoLife Plus, the micro insurance which premium is as low as RM13 a month with coverage of up to RM76,000. The premium is unheard of prior to this as life insurance has always been deemed to cater to those with higher disposable income.”

She added that GoBiz, like GoPayz, stand to benefit many too. “U Mobile’s intention with our fintech ecosystem is to empower all, be it consumers or businesses. Hence, GoBiz seeks to enable all businesses, even the smallest of traders, to accept digital payments from customers and offer additional revenue-generating services like telco prepaid top-ups and bill payments to their customers.”

For more information, visit www.gopayz.com.my and www.gobiz.com.my