- Partnership will see Bolt marketed to Payfo’s database of over 26 million adults, as a video-based communication content and information platform.
- The platform aims to connect over half of the world’s population – the underbanked and unbanked – to the global information highway.
Bolt, the mobile focused video content ecosystem today announced the signing of a co-marketing and distribution partnership agreement with the diversified Malaysian fintech company Payfo, specialists in digital banking and e-commerce platforms. The partnership will see Bolt marketed to Payfo’s extensive database, bringing the company’s content ecosystem to a variety of service channels.
The team behind Bolt describes the platform as the world’s first open entertainment and information platform, offering the first real world application of tokens and blockchain to empower the unbanked and the underbanked. Through the Bolt Wallet, users are able to store the in-house Token, and mobile data redemption packages. Together, both applications aim to give the world’s unbanked population unprecedented access to the information highway including internet connectivity, information, and entertainment, as well as the ability to allow content creators and users to be rewarded for their time and quality of content submitted on to the platform.
Speaking about the partnership Jamal Hassim, Founder and Chief Executive Officer of Bolt said: “Whilst Bolt already has a strong user base in Malaysia and the ASEAN region, the partnership with Payfo will significantly increase our reach and eventually their base of users for Bolt+, the Wallet and the Bolt Token. Our Community will be excited to know that this is an immediate implementation of use for the token that will inevitably drive demand.”
Indeed, the partnership agreement will see Bolt utilised as a constant engagement channel with Payfo’s own database of over 26 million adults, going beyond a simple transactional relationship, highlighting Payfo’s faith in the innovative and pioneering platform and the team behind it. In addition to acting as a video-based communication content and information platform for the databases, the streaming company will also see the first mass use case of the Bolt Token, which is set to be implemented as an incentive and reward system with which customers can engage.
The token, which can be accumulated and traded, will be used heavily within the ecosystem by users to access premium content, starting with its suite of entertainment, sports and educational content. It can also be used to reward content creators, or to trade for mobile data plans by supported telco networks.
Brands and sponsors will also be encouraged to use the channel to target consumers, purchasing tokens to use as advertising credits for sponsoring content. It marks the first major step in Bolt’s strategy to generate greater awareness, acceptance and eventually adoption of the token, alongside the Wallet and the premium package Bolt+ around the world.
Ezwan Annuar, CEO of Payfo, added: “This collaboration is a way of extending the services of both Parties to the databases/users of each other to increase stickiness and to create added value from the engagement with each user. Engagement becomes our new metric for measuring user performance.”
Founded in 2017 by global tech-entrepreneur and innovator Jamal Hassim and Twitter’s former Head of Content Christel Quek, BOLT has sealed its position as a disruptive, industry gamechanger. Today, with an expert team spread across three continents, BOLT continues to grow and expand its existing partner ecosystem across the world. These include telco partnerships for data bundling and direct carrier billing, innovative content broadcasters who want to engage with audiences in emerging markets, and other rich media verticals such as gaming and education.