TFP Solutions unit inks mobile fintech services deal with SugarBun restaurant operator

TFP Solutions executive director Puteri Munawarah Syammiyah Munir.

TFP Solutions executive director Puteri Munawarah Syammiyah Munir.

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KUALA LUMPUR (March 8): ACE Market-listed financial technology (fintech) solution provider TFP Solutions Bhd’s wholly-owned subsidiary MBP Solutions Sdn Bhd has inked a deal with SB Supplies & Logistics Sdn Bhd, the operator of the SugarBun restaurant franchise, to supply the latter with a suite of fintech services.

In a statement today, TFP Solutions said under the memorandum of agreement signed on March 1, MBP Solutions will provide OneCALL airtime and Internet data plan services and/or OneCALL mobile apps — a fintech platform for cashless payments — to SB Supplies, an indirect wholly-owned subsidiary of Main Market-listed Borneo Oil Bhd.

“SugarBun has outlets throughout the country, with an estimated 208,000 customers on average every month. Hence, it is highly important for us to improve the system for payment transactions between the customers and our outlets. This new system by TFP Solutions will also be integrated into our new SB.Go App, which offers delivery, takeaways and dine-in services that will soon be available to our customers,” said SB Supplies general manager Raymond Teo.

According to him, customers will enjoy an instant 5% cashback from any SugarBun order by simply installing and registering their new OneCALL Lite app, and existing users of OneCALL — which is also a mobile service provider — or customers who plan to migrate their mobile SIM to OneCALL will automatically receive a real-time cashback rebate of 20% through their OneCALL e-wallet upon any SugarBun purchase.

The value and duration of the contract were not disclosed by TFP Solutions.

Meanwhile, TFP Solutions executive director Puteri Munawarah Syammiyah Munir said the mobile solutions would encourage more spending at SugarBun outlets.

"We want to assure that customers who upgrade their mobile SIM with us will have a great add-on, which offers [benefits] no other mobile operator can, such as a built-in licensed e-wallet, convenience of bill payments and to purchase prepaid top-ups, purchase a data plan, perform remittances for workers and much more,” she added.

At the time of writing today, shares in TFP Solutions were unchanged at 21 sen, valuing the group at RM101.07 million, while shares in Borneo Oil were also flat at 3.5 sen, with a market value of RM239.71 million.

Lam Jian Wyn