CCV Retail Sdn Bhd launched its electronic wallet (e-wallet) on 17 December in Sabah. CCV Retail is the owner of Pick N Pay, the largest premium grocery chain store in Sabah and F&B business Aki Sushi Japanese Restaurant. CCV Retail has more than 18 years of experience in the retail line and will now enter the digital segment, a move that brings digitisation to the fore in Sabah.
Dubbed "Paydy," CCV Retail believes that the use of e-wallets is a huge opportunity for both merchants and consumers to make a leap into the digital era by enabling both parties to make transactions in a seamless, transparent, safe and convenient manner.
"In line with the company's vision, Paydy will deliver convenience to its customers by enabling them to make payments with just a scan of a QR code and an entry of the amount to be paid, thereby replacing cash payments altogether," said John Chong, the Managing Director of CCV Retail.
"CCV Retail's ultimate goal is for Paydy to be accepted at all merchant outlets all across Sabah. For now, it plans to roll out Paydy in phases, the first of which is to make Paydy available at 10 of our outlets and Aki Sushi Japanese Restaurant from today onwards," Chong added.
Paydy is powered by innovative payment solutions developed by Fass Payment Solutions Sdn Bhd, a wholly subsidiary of Soft Space Sdn Bhd, a Malaysian-based fintech player with over 20 financial institutions in 11 different countries adopting its solution worldwide.
Paydy is not only convenient but also secured. It uses the latest payment technology that utilises a 6-digit security pin and/or fingerprint authorisation so that financial data and personal information are kept secure from end-to end. Fasspay first received the go-ahead to roll out its e-wallet solutions from Bank Negara Malaysia (BNM) and have complied with all relevant requirements issued by the regulator for the safe and secure delivery of e-wallet technology in 2018.
"We are proud to be chosen by CCV Retail, a leading retailer in Sabah, as a master partner for its e-wallet solution," said Chris Leong, Chief Strategy Officer (CSO) of Soft Space.
"To complement this effort, we have currently rolled out our mPOS terminal called 'Lighthouse' and we will soon introduce our new customer relationship management solution called 'Superks' rewards to more than 10 of their stores in Sabah. With Paydy, CCV Retail can strengthen customer relationships and know its customers better while customers can receive relevant promotions, deals and loyalty rewards.
"Paydy will differentiate CCV Retail digital payments play from the rest of the field, some of whom are already in the market," he added.
Despite the rising competition of e-wallets in Sabah, CCV Retail is confident Paydy will succeed, as it plans to leverage the convenience and security afforded by Paydy amongst its existing 1.9 million strong customer base. Currently, about two-thirds of its customer base still use cash for transactions but with Paydy, CCV Retail aims to increase cashless transactions and help Sabahans benefit from the digitisation of their lifestyles.
In conjunction with the launch, Pick N Pay announced that it is offering discounts for its customers who use the Paydy e-wallet. Between 17 and 31 December 2018, Pick N Pay will offer 10% discount off fresh fruits; 10% off on sushi items during the weekdays; and 20% off on sushi items on weekends and many more. Customers who use the Paydy app at Aki Sushi Japanese Restaurant will also get a 10% discount on bills for food items.