The company continues to set standards in the fintech space with QashierX2, a true all-in-one business solution, seamlessly embedding payment processing into a smart, point-of-sale…
The company revolutionises SME operations, embedding point-of-sale functionalities and payment processing into a seamless, all-in-one business solution.
Qashier Sdn Bhd stood out at the Malaysia Technology Excellence Awards (MTEA) 2024, winning in the Fintech – Financial Services category. This accolade recognises its outstanding initiatives in improving how small and medium-sized businesses (SMEs) operate with its QashierX2 – a business solution that embeds point-of-sale (POS) features with payment processing.
The QashierX2 smart POS terminal marks significant innovation in the fintech space, streamlining fragmented operations that SMEs commonly face. Unlike the current business tools in the market that require multiple devices for dedicated functions such as payments and inventory management, QashierX2 simplifies them into one easy-to-use solution.
Launched in July 2023, QashierX2 quickly caught the eye of major Southeast Asia media including The Sun Daily, e27, SME.asia, and News Hub Asia. Since then, it has benefitted over 200 businesses in Malaysia and Singapore, including local well-known businesses like Joe’s Kitchen and Durian BB.
QashierX2’s modern and portable terminal features a larger dual-screen for better usability than its predecessor, the QashierX1. Developed based on the feedback from merchants, QashierX2 suits the needs of various businesses, from market vendors and food trucks to cafes and mobile services like pet grooming. These types of businesses, based on the Department of Statistics Malaysia, make up a large section of the local SME sector.
Beyond its form factor, QashierX2 uses cloud technology, allowing merchants to manage their operations anywhere with internet access. This includes inventory checks, managing customer
promotions, and accessing sales analysis, all of which can be accessed remotely, an essential feature in today’s fast-paced business world.
Another unique selling point of QashierX2 that sets itself apart from its competitors in the market is its comprehensive payment system. It accepts all payment types from one terminal, ensuring quick and secure transactions. Added features like e-invoicing and Pay By Link make moving from in-store to online sales seamless, serving businesses operating in both realms.
QashierX2’s win in the MTEA 2024 follows its previous MTEA win for another product, QashierXS which took the win for the Emerging Technology – Business Services category in 2023. The back-to-back wins are a testament to the fintech company’s relentless pursuit to innovate. While QashierXS focuses on enabling mobility for micro to small enterprises, QashierX2 presents advanced capabilities to serve a wider merchant network with robust and speedier performance – be it processing payments or managing day-to-day operations.
Furthermore, QashierX2’s launch has gained investors’ confidence in allowing Qashier to secure its Series A funding in August 2023. The funding round was co-led by Delivery Hero Ventures and IFP Securities, with participation by Antler Elevate and Cocoon Capital.
QashierX2 has also upgraded its payment capabilities with dynamic DuitNow QR for safer and more accurate payments along with next-working-day payout benefits that ensure merchants maintain a positive cash flow.
Since starting in 2019, Qashier has led the way in helping SMEs succeed in the digital economy. Malaysia itself makes up about 2,000 of the 6,000 Qashier merchants across Southeast Asia.
Qashier’s dedication to improving business with its smart POS and payment-embedded solutions has raised the bar in fintech. The Malaysia Technology Excellence Awards recognises exceptional companies at the forefront of technological innovation and digital transformation in Malaysia’s rapidly growing economy.
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About Qashier (www.qashier.com)
Qashier is a Singapore-based fintech startup that readies businesses for the digital economy by empowering them with one embedded smart point-of-sale and payment solution. Businesses of all sizes accomplish more with a suite of powerful cloud-based software including customer loyalty, inventory management, an online ordering system, and other offline-to-online tools. By pairing technology with a strong commitment to merchant success, Qashier helps SMEs affordably streamline and scale operations while increasing revenue.
Backed by venture capital firms Delivery Hero Ventures, IFP Securities, Antler Elevate, Cocoon Capital, HCVC and Exor Ventures.
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This article was published in The Asian Business Review.