BigPay Review – AirAsia’s e-wallet


AirAsia Tony Fernandes

Tony Fernandes was quoted, saying ‘One day, Big Pay will be worth more than AirAsia‘.

I am excited about BigPay and I’m writing this post just as I received my card. Today.


Why BigPay?


AirAsia BIG Points

Big Pay is by AirAsia, Malaysia’s favourite airline. You and I both know you’ll probably be on an AirAsia flight this year.

You’ll be receiving exclusive AirAsia benefits when you use your BigPay card with AirAsia such as:

1. RM0.00 payment processing fees

2. Discounts on pre-booked check-in luggage and in-flight meals

3. Exclusive early access to AirAsia sales

4. 1 BIG point when you top up RM50 and 1 BIG point for every RM20 spent on BigPay

In my opinion, the RM0 payment processing fee is reason enough to get BigPay.


The End of Long Queues for Foreign Currencies

For the serious travellers and not-so-serious ones out there, BigPay is god-sent. Why? Exchange rates.

BigPay touts itself as giving the ‘best’ rates out there, but to be frank, I’d call it competitive.

Queue at Mid Valley Foreign Exchange House
The queue at Mid Valley

Forget the long queues at your favourite foreign exchange outlets. Using BigPay, you’ll receive really competitive rates with no extra fees!

The rates Big Pay uses can be found at Mastercard’s website.



All it takes is for you to top up your BigPay online, in Malaysia.

Travel abroad to your destination of choice, insert your card into any ATM in that country and voila – Watch the ATM spit out your cirsp foreign currency.

Withdrawals done in Malaysia will be subjected to a fee of RM6 per transaction & overseas withdrawals will be charged at RM10 per transaction.

Besides that, BigPay also allows you to send/receive money to and from friends. Instantly. No fees!



BigPay also breaks down your expenditure on the app itself. Nifty for people wanting to keep track of their spending.

How to Sign Up for your BigPay Card

Detailed below is how to sign up for your BigPay Card.

Before we continue, remember this referral code: SPUXOYWAI5

You get a free RM10 (as do I) from signing up with the above code.


1. How do I get the BigPay app?

You can download BigPay for free directly from the App Store or Google Play Store to get started.

2. How do I sign up for BigPay?

All it takes are 3 easy steps to sign up for BigPay:

i. Fill in your basic personal details

ii. Verify your identity with your IC/passport and a selfie

iii. Add RM20 into your account

3. How much does it cost to sign up for BigPay?

Signing up and getting your card is completely free! You will need to add a minimum of RM20 that will be stored on your card for your usage. We don’t charge any inactivity fee either, so signing up & keeping your BigPay account does not cost you anything.

Using this referral code: SPUXOYWAI5

You get a free RM10 (as do I) from signing up with the above code.


I foresee myself using BigPay long into the future.

Especially every time I travel.

So. Sign up. Get the free RM10 and whip that card/app out whenever you go abroad.

Also, the card is a beaut.


A Review of Funding Societies – P2P Lending in Malaysia

Funding Societies Malaysia

Funding Societies – Let’s Finance!

So I’ve started investing in P2P financing/loans a few months ago via Funding Societies.

I decided to wait a couple of months before having this post up as I wanted to be sure of the returns as well as the credibility of the site.

And.. So far so good!

I’ve put up RM3,000 as initial capital and, after all the fees, I’ve gotten back RM66.73. My first investment was made on 29 November 2017. This gives me an annualized gain of 13.17% per annum, outperforming my Freedom Fund.

Of course, the risks of financing are higher compared to shares. I’d advise everyone to carefully go through the various businesses’ prospectus before jumping in. And as always, higher returns will mean higher risk on your part as a financier.


How does Funding Societies Work?

As an investor, you’ll first have to register an accountMore info on signing up below

Once your account is activated, and you’ve deposited some money into your account, you’ll be able to begin financing small businesses in Malaysia.

You’ll typically receive email notifications when investment opportunities become available. Note that you may have to wait a bit for such an opportunity.

The next step is to then decide on the amount to invest, from as little as RM100.

From experience, you can expect to receive your first repayment a month after the funds have been disbursed to the SME.

The Risks

I feel it is important to delve more into the risk part of P2P financing, especially for us as investors.

Funding Societies do themselves vet through the various SME issuers through its rigorous and rigid scorecard-based risk assessment. The tenure of financing is also relatively short (between 1 to 12 months).

Default rates are currently at around 1.5% across the countries Funding Societies operate in – Indonesia, Singapore and Malaysia. Good news though, Malaysia is, at the moment, default-free – 0%.

To further minimize your risk, I would recommend spreading your investments across different loan issuers, should anyone default. A simple example will be investing RM10,000 across 100 different deals. A 1.5% default rate will probably result in a default in 2 deals. Investors will still be able to generate returns from the remaining RM9,800.


Signing Up – RM50 BONUS

Signing up to be an Investor is a breeze. Just head over to Funding Societies, and all you need is your IC / passport number, an email, and your mobile number.

Additionally, you’ll receive a bonus RM50 when you sign up with my code j1mwa37p

The terms? You’ll just have to invest a collective amount of RM1,000.

Don’t worry, all the links provided here already has my code embeded.

Alternatively, you may click on this link Funding Societies.

A big thank you in advance!

Funding Societies - Sign up page
Funding Societies – Sign up page


Easy to Use Interface

The interface of Funding Societies has changed significantly compared to when I first joined. It is now much easier to get your annualized performance (no more calculating this on your own) and you get to view your net income, after expenses and fees easily.

Funding Societies Malaysia - Interface 1
Funding Societies Malaysia – Interface 1


Funding Societies Malaysia - Interface
Funding Societies Malaysia – Interface 2


Funding Societies Malaysia - Interface
Funding Societies Malaysia – Interface 3

Funding Societies – Conclusion

I expect great things from Funding Societies in the coming years.

Already they are the largest regional P2P financing platform in Southeast Asia, connecting creditworthy SMEs with retail, high net worth and institutional investors.

Funding Societies is recognized and regulated by Securities Commission (SC) Malaysia and has received various awards and recognition both regionally and globally, including making the prestigious Fintech 250 list and winning the Global SME Excellence Award from the United Nations’ ITU Telecom Unit.

If you’ve ever wondered what it feels like lending money to businesses as a bank does, give Funding Societies a go. The business is self-sustaining and is based on the fees they receive from your loan payments. And the returns are commendable.


Update (24 Nov 2018)

My investment in Funding Societies so far stands at a cool 13.12%. It’s actually doing better than my share investments.

Also, thank you, everyone, for the referrals. You’re amazing.