Kaching Network Sdn Bhd (Kaching) today announced it is collaborating with I Synergy Holdings Bhd (iSYNERGY) to enable the 2.2 million members of MyKad Smart Shopper (MSS) to redeem their loyalty cash points online on Kaching’s newly launched e-commerce platform, BearInBag.
MSS is a loyalty program by iSYNERGY’s subsidiary company, I Synergy International (M) Sdn Bhd that uses MyKad as its member identification. The program has more than 1,000 participating merchants in Malaysia with products and services ranging from fashion, beauty, electronics, food, lifestyle products to entertainment. BearInBag is a new online shopping platform that offers deals in fashion, technology and lifestyle products with merchants such as Focus Point, Bagman, The Travel Store and more.
“With BearInBag, we are entering a very exciting e-commerce market that is expected to have strong growth in the coming years. Through the synergistic partnership with iSYNERGY, we hope we can advance BearInBag’s penetration into this market and at the same time, benefit both MSS and BearInBag members by giving them an additional avenue to enjoy smart savings through online purchases”, said Datuk Lee Hwa Cheng, Chief Executive Officer of Kaching Network Sdn Bhd.
Dato’ Garry Chua Kah Seng, President of the Malaysia Retailer Chain Association (MRCA) who was also present to speak at the signing ceremony between Kaching and iSYNERGY, lauded the partnership between the two MRCA members as being able to help promote the expansion of the retail industry by providing retailers with an easy and convenient platform to venture into e-commerce, while encouraging savings for consumers under a strong loyalty program.
Lee added, “We are the first e-commerce website in Malaysia that incorporates an established loyalty program that already has a huge membership base. In addition, by integrating our system with MSS, BearInBag is the first and only online redemption channel for MSS members who previously can only spend their MSS cash points offline at MSS merchants’ outlets”.
MSS members who make online purchases on BearInBag’s platform will be able to redeem their MSS loyalty cash points by simply keying in their MSS identification during the BearInBag user registration process. With the MSS’ system integrated with BearInBag’s, MSS members can also earn MSS cash points and reward points when they make purchases on BearInBag’s online shopping platform. For new BearInBag customers who are not MSS members yet, they will be given the option to sign up for MSS membership during the BearInBag registration process.
Dato’ Lawrence Teo, Chief Executive Officer of iSYNERGY said, “Kaching is an excellent partner to help advance our efforts in bringing online shopping to MSS members and enabling them to enjoy rewards and savings both online and offline with an interconnected loyalty program. By combining the strength of our loyalty program with Kaching’s retail and technology expertise, I am confident that we will be able to revolutionize the e-commerce experience for both MSS and BearInBag members”.
The security deposit of RM1,200 required for each new MSS merchant will also be waived for up to 500 MRCA retailer merchants when they register as a BearInBag merchant.