Boost
Boost was founded in 2017 by Axiata, which is a well-known telecom operator in Malaysia. It is one of the fastest-growing wallets for local users and also the most popular e-wallet in the local market. Users can use an app through which they can choose between a basic wallet and a premium wallet, which determines the balance limit and transaction limit.
Boost wallet provides payment services for shopping, catering, traveling, movie-watching, and more, with merchants spanning from online stores to offline stores. These also include e-commerce platforms such as Shopee and Lazada, entertainment merchants such as PlayStation, Steam, and Spotify, catering merchants such as Burger King, KFC, and Nando's, and transportation merchants such as Klia and RedBus.
Properties
The following table lists the product properties supported by Boost:
Payment type | Alipay+ payment method | ||
Acquirer | AlipaySG, AlipayEU, AlipayUS, AlipayUK | Acquiring region | SG, AU, HK, US, EU, UK |
Payment flow | Redirect | Auto Debit | ✔️ |
Buyer country/region | Malaysia | Refund | ✔️ |
Funds deduction | Real-time | Partial refund | ✔️ |
Processing currency | MYR | Chargeback | ❌ |
Minimum payment amount | 0.05 MYR | Maximum payment amount | 50,000 MYR/month |
User experience
The following graphic shows the Boost app authorization process:
Figure 1. Authorization process