Rakuten Trade Adds Boost As Its New Affiliate Partner to Amp Up Rewards Ecosystem
More Than 1million RT Points Converted In The 1st Five Days of the Soft Launch.
KUALA LUMPUR, 1 March 2021: Rakuten Trade Sdn Bhd (Rakuten Trade) has entered into a partnership with homegrown e-wallet Boost in a move to amp up its rewards ecosystem to focus more on cashless transactions, which have risen in popularity since the Movement Control Order (MCO) last year.
The collaboration will see Rakuten Trade shifting towards providing its digital retail investors with more immediate gratification through reward points being converted into affiliate rewards that can be turned into Boost e-wallet coins.
Rakuten Trade, which launched its Rewards Eco System in August 2017, issues an average of 4.3 million RT points monthly. As at 31 December 2020, revenue generated from its rewards ecosystem stood at RM16.3 mil and has been on an upward trend each year.
Given the changing conditions of a more digitalized lifestyle, Rakuten Trade decided to explore new ideas to enhance its rewards ecosystem to better cater to the needs of its clients and holistically improve the digital trading experience.
Rakuten Trade’s Chief Executive Officer, Mr Kazumasa Mise, said, “Continuous evolution is crucial for our business development and growth. The current environment has dictated the need for digital transations to be an integral part of our day to day existence. That is why Rakuten Trade has strategically joined hands with Boost, given our mutual synergy when it comes to digitalization and bringing meaningful rewards to our respective clients. A key benefit of online trading, besides the low brokerage fees, is the reward. With the profile of retail investors continuously evolving, rewards must be flexible to adapt to their changing expectations.”
Boost has been steadily gaining momentum since its launch in 2017, with close to nine million Boost users to-date making cashless payments for daily essentials at over 228,000 offline and online merchants nationwide.
Mr Mohd Khairil Abdullah, Chief Executive Officer of Boost, said, “The unprecedented digital and online growth we experienced last year showed us endless untapped potential and opportunities on how we can reimagine and explore new ways to use digital platforms to operate in all business and lifestyle aspects. This year, we are committed to take advantage of those opportunities to chart the next normal of the country’s cashless and digital economy ambitions.”
“We are very excited to have Rakuten Trade onboard as our first retail investment platform partner in giving their loyalty ecosystem a boost through our BoostUp. This collaboration will drive interoperability between digital providers and push the envelope on Boost’s capabilities as an omni-channel platform that is both rewarding and functional, moving beyond just digital payments. With our constantly growing merchant network to choose from, Rakuten Trade customers will be spoilt for choice on where to spend their rewards,” he added.
With this new partnership, Rakuten Trade clients can convert their RT points on a point to coin basis (1 RT point = 1 Boost coin). Boost coins can be redeemed for everyday essentials like food and beverages, household items, groceries, bill repayment and even conversion into e-wallet cash.
In addition to Boost, Rakuten Trade’s other rewards partners comprised of AirAsia BIG Rewards and BonusLink. It parted ways with B Infinite, after three years together, in January 2021.
For more information on Rakuten Trade, please visit www.rakutentrade.my or download iSPEED.my app via Google Play Store or Apps Store.
For more information on Boost, please visit the website at www.myboost.com.my or follow Boost on Facebook (facebook.com/myboostapp) and Instagram (instagram.com/myboostapp). Boost is available for download on Google Play, App Store or HUAWEI AppGallery.