Retailers and small business can use the suite of digital solutions to quickly get online and expand their sales channels.
United Overseas Bank (UOB) has entered into a partnership with e-commerce services provider Shopmatic to integrate its digital solutions into Bizsmart, the bank's suite of cloud-based business solutions, it announced on Wednesday.
The partnership will allow small businesses to set up digital retail channels, including payment options and delivery services, quickly without any technical knowledge. It also aids small businesses without track records to apply for financing from UOB, which will be able to determine more accurately their creditworthiness by incorporating sales data into its assessments.
New Sales Channels
Retailers will also leverage Shopmatic's sales channels and integration with e-commerce marketplaces like Instagram, Amazon, Lazada, Qoo10 and Facebook.
«As Asean’s e-commerce market continues to grow, it is essential for small businesses to tap the revenue opportunities within the digital economy by expanding their sales channels and attracting new customers,» Lawrence Loh, UOB's head of group business banking, said.
The Singapore-based company was founded in 2014 and provides retailers an integrated e-commerce platform that combines selling channels, payment and delivery systems. It currently operates in Singapore, India and Hong Kong.
