Digital payment platform launched for Muslim communities in Southeast Asia

To promote Muslim-owned enterprises, connect them with younger generation of Muslims in Singapore 

SINGAPORE (MNTV) – Singapore-based fintech company Aleta Planet Pte. Ltd. has rolled out a digital payment platform designed specifically for Muslim communities in Southeast Asia, reports Asian Banking and Finance.

The MPLUS Aleta app allows users to make payments using a QR-based closed-loop system, without incurring transaction fees. 

According to Ryan Gwee, founder and group chairman at Aleta Planet, the platform was created to promote Muslim-owned enterprises and connect them with the younger generation of Muslims in Singapore. 

“Essentially, the thought came from how we could . . . make Muslim-owned enterprises work closely and get to know the younger generation of Muslims in Singapore,” said Gwee. 

Gwee noted that there are hundreds of thousands of Muslim-owned enterprises and a big population of Muslims in Singapore. 

“For example, if I go to the Philippines, and I go to a resort or to a new area, I should be able to see where all the Muslim-owned enterprises are,” he said. 

“They should pop up on my screen and say which services they provide, as well as the deals they have for the community.”

Gwee compared the platform to PayPal, but without the fees. “Shariah law prohibits interest and requires Muslims to donate a portion of their wealth to charitable causes,” he explained.

The app will soon feature a Muslim vendor directory, enabling users to find Muslim merchants and businesses in the region.

“We are planning to launch the service in Indonesia and Malaysia soon,” Gwee added. “Consumers using the platform will have access to a pool of Muslim merchants offering a range of products and services.”