Aeon Wallet to be launched in August

Aeon Credit Service (M) Bhd is targeting to launch its cashless payment service Aeon Wallet in August, which will become another core business segment for the group.

Aeon Credit, a subsidiary of Aeon Financial Service Co Ltd Japan, is principally engaged in consumer finance operations through provision of easy payment and hire purchase schemes for purchase of consumer durables and motor vehicles, personal financing schemes and issuance of credit cards.

Aeon Credit will be launching two new products in the current financial year ending Feb 28, 2019 (FY19), in line with the company’s digital initiatives, namely the Aeon Wallet and Aeon Member Plus Card that will provide customers with payment, privileges and benefit to complement the evolving customer lifestyle, attracting customers from all segments to go cashless.

Chief financial officer (CFO) Lee Kit Seong said the e-wallet will be another payment settlement tool for consumers in the market as it looks to first tap into its 6 million member base in the group and to have 1 million users for the e-wallet in a year.

“We’re also introducing the Aeon Member Plus Card to consolidate the loyalty programme of the Aeon group of companies in Malaysia. The e-wallet is one of the settlements like Touch ‘n Go, Alipay, and WeChat Pay. Our e-money will ultimately become mobile payment and Aeon Pay (a settlement medium like iPay88),” Lee told reporters after its AGM today.

“After we expand internally, we will go externally. From e-money, we’re going to put it into a mobile wallet. We want to integrate the Aeon companies (such as Aeon, Aeon Big, Aeon Credit) in Malaysia to have one member (system). Once comfortable, we will go to the region,” added Lee.

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