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Visa supports SMBs in Singapore and Malaysia

Anuradha Shukla | April 25, 2016
Reduces costs with the launch of Visa’s One-Stop Portal.

Visa is supporting Small and Medium Businesses (SMBs) in Singapore and Malaysia with the launch of Visa Business Hub.

This one-stop portal will deliver tangible value to business customers in Asia in terms of reduction of upfront costs and better management of companies.

Visa claims that the Software-as-a-Service (SaaS or pay-as-you-use) will help (SMBs) save up to 25% on their IT expenses. 

A Business Academy, included in the portal is designed to assist SMBs stay competitive through expert insights and advice.

"Small Medium Businesses is a key segment for Singapore, given that they contribute to almost 50 % of our country's Gross Domestic Product (GDP) and 70 % of the workforce," said Ooi Huey Tyng, Visa country manager for Singapore and Brunei. "At Visa, we constantly look to create solutions that are innovative and meet the needs of our clients. The launch of Visa Business Hub will be able to address the key strategies that Small and Medium Businesses are looking for including improving customer service and increasing productivity through streamlining of processes."

Increased use of commercial cards

Visa's platform is designed to help banks increase usage of commercial cards by promoting offers and discounts relating to SaaS and Cloud services, paid via a commercial card.

A new survey indicates that about 80 % of companies in Singapore say that their decision to acquire SaaS / cloud was because of 'best practice.'

37% users of SaaS / Cloud in Singapore expect to upgrade or take on more software as they want to save cost, be more efficient, and want to keep up with technology.

Another survey on Malaysian businesses indicates that CRM software is the least adopted software, but it increases in adoption with larger SMBs.

Awareness of cloud services is at 76 %, overall usage is at 34 %, and   40 % of businesses might consider SaaS or cloud services in the future.

"We are pleased to launch Visa Business Hub as it will help Asian businesses which seek to make tangible improvements in their processes," said Vikram Kshettry, head of Small Business Products, Asia Pacific, Visa. "For Visa clients, the portal will ensure deeper engagement with SMB customers and differentiate their solutions."

 

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