BigPay Introduces the Stashes feature to encourage savings and build financial wellbeing
SINGAPORE, KUALA LUMPUR, 6 Sep 2022 - BigPay, a Southeast Asian fintech company, has introduced enhancements to its recently launched feature, Stashes. Available on the BigPay app, Stashes is a virtual account that allows users to organise and save money that is separate from their BigPay spending wallet. Through its Round-Up feature, users can opt to round up their transactions to the nearest Ringgit or Singapore dollar to be automatically put into the Stash that is separate from their BigPay wallet balance. Since its initial launch less than a month ago, BigPay users have accumulated over 100,000 Stash and round up transactions.
Multiple Stashes
BigPay users will be now able to create multiple Stashes for different objectives and customisable saving goals. Individual Stashes can also be further personalised by adding images, descriptions, and rules like locking their Stash until their savings goal or deadline is achieved to further encourage improved saving behaviours.
Savings Goals
The enhancements to Stashes will now enable quicker ways for users to reach their savings goals through Turbo Round-ups that can help users save a fixed amount more per transaction. Additionally, users can schedule deposits into their Stash on a daily, weekly, or monthly basis. Beyond rounds-up through card payment transactions only, users will now be able to round-up DuitNow QR payment transactions towards their Stash as well. Users will also be able to have an overview of their financial goals based on factors like spending habits and stash rules.
“We are delighted to introduce these new enhancements to Stashes that we truly believe will help our users develop healthy financial habits,”Salim Dhanani, CEO & Co-Founder of BigPay shares. “Driving financial well-being is at the core of what we do and through Stashes, we want to help users cultivate a lifelong habit of saving money for their future. It’s great to see the strong take up from our user base and there will be a number of updates coming - including Stashes which earn daily returns.”
Since its inception in 2017, driving financial wellbeing and access has been a core vision and mission of BigPay. In addition to helping over 3.3 million users improve their financial health, the company seeks to expand its services and introduce more financial products throughout the Southeast Asian region. Currently, BigPay’s wallet limit has been increased from RM10,000 to RM20,000. With the increase, users will be able enjoy a higher spending limit for their everyday and international spend.
Most recently, BigPay added 38 new countries in the UK and Europe to its international remittance service. The remittance corridor offers a low-cost, transparent, and accessible way of transferring money abroad through its mobile application, which are the cornerstones of BigPay’s financial inclusion strategy.
For more information, visit the BigPay website at www.bigpayme.com.
For press and media inquiries, please contact press@bigpayme.com
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