Frequently Asked Questions
- The Merchant is at least 60% Malaysian owned;
- The Merchant is registered under the relevant laws of Malaysia and classified as an SME;
- The Merchant has been in operation for at least :
- a. six (6) months OR
- b. one (1) year, whereby:
- For Merchants which have been in operation for at least one (1) year, the Merchant is required to have a minimum annual sales turnover of RM100,000 for the first year; and
- For Merchants operating for two (2) years or more, the Merchant is required to have a minimum annual sales turnover of RM50,000 for the preceding two (2) consecutive years.
You can sign up from now until 30th June 2021. Don’t miss out on the opportunity!
Yes, Ministry of Finance has now opened applications to SMEs in operation for at least 6 months too.
Yes, you may sign up for an SME DG package with Boost as the new criteria allows SMEs to submit more than one (1) application effective 1 January 2021. However, do take note that each SME can only submit ONE (1) application for the Grant through each official appointed Service Provider. For avoidance of doubt, kindly refer to the grant T&Cs.
No, cancellation is not possible. Once an invoice is issued, your grant application will be considered approved and payment for the package selected will need to be made. This grant is meant to assist SMEs in expanding their business for more exposure to a new market (online), we urge you to use this opportunity wisely.
Exception will only be granted if there are circumstances such as business permanent closure. In this case, Merchant would need to formally write in to firstname.lastname@example.org with proper documentation as proof of business foreclosure.
You will only need to pay 50% of the package price as the half is subsidized by the government. But there will be a 6% SST that you will be required to pay.Therefore, for the Gold package, it will be priced at RM5300.
You will need to ensure that the entire cashback campaign amount (ie: Gold package: RM5000) has been successfully deposited/credited to your users within the stipulated campaign period. If you were unable to finish cashback amount and have requested to extend the campaign period or is suspected to have fraudulent transactions to give you unfair advantage – you will no longer be entitled for the merchant incentive.
Suspicious or fraudulent transactions are deemed as transactions made by the merchant to game the system in order to get the incentive.
Example: Merchant A has 2 Boost accounts; he uses them to make false transactions by scanning his own business QR code in order to ensure he finishes the cashback amount.
Example 2: Merchant A requests customers to pay him cash whilst he uses his own Boost account to scan his own business QR code.
The merchant incentive would be in the form of cash which will be credited into your bank account registered with eCode within ninety (90) working days after campaign period ends and subject to satisfactory internal audit / verification.
Once verified, you will receive a confirmation email from email@example.com
You may also opt to convert your merchant incentive into cashback to run / extend a campaign with Boost. Please refer to Q10 for reference.
Once grant application has been submitted and merchant has successfully made payment for the grant package of his/her choice, they will be required to do the following:
Step 1: Discuss the campaign details as outlined below with your respective Boost representative(s).
- Campaign period
- Cashback utilization period
- Choose your campaign mechanics based on the 4 options provided in the application form (*campaign mechanics should be chosen depending on your customers’ ticket size per transaction). If you noticed that neither of the 4 options suit your business needs, please speak to your Boost representative to negotiate a different campaign mechanic; subject to Boost approval.
Step 2: Understand the Terms & Conditions of the campaign
- Merchant will be required to run their campaign within six (6) months upon signing up/paying for a grant package.
Example: Merchant A sign-up on 1st April and makes payment on 8th April; merchant will be required to start their campaign by no later than 8th October. If the timing has lapse, campaign and cashback budget will be deemed invalid and Merchant shall have no claim over eCode.
- The max duration of campaign period will be three (3) months. This is set to ensure campaign effectiveness and avoid campaign fatigue. Also, we want to help merchants drive traffic to their store and increase sales as soon as the campaign kicks off.
- Number of cash back capped per user is a maximum of three (3). The purpose is to allow the merchants to gain new Boost users which will in turn give your business better visibility. You may opt for a lower no. Of cashback capped per user i.e. two (2) or one (1) but a higher capping (i.e more than 3) is NOT allowed.
Step 3: Ensure the Marketing Collaboration Form is signed-off by all parties prior to campaign start date.
Yes! We would encourage merchants to consider using their Merchant Incentive to run campaigns or extend the existing campaign with Boost. This is to further drive more sales for your business.
If you are keen to do so, kindly write in to firstname.lastname@example.org within five (5) working days upon receiving your incentive confirmation email and inform us so we can prepare the necessary document and make arrangement for your campaign.
Visit our website at https://www.myboost.com.my/business/campaigns/sme-digitalization-grant and fill up your detail, our Boost Business representative will be in touch with you soon.
Do have the following documents ready for a smooth registration process:
- A copy of IC/Passport of the Business Owner
- A copy of Business Registration License or SSM
Audited Financial Statement for 2 consecutive months