Aeon Bank, Malaysia’s first Islamic digital bank, has signed a Memorandum of Understanding (MoU) with FoodPanda Malaysia to jointly promote digital financial inclusion. The Business-to-Business (B2B) collaboration aims to increase digital banking adoption among FoodPanda riders and merchants, as well as providing special rewards and promos for FoodPanda customers.
The MoU between Aeon Bank and FoodPanda outlines a broad scope of collaboration which covers customer acquisition, digital financing, joint campaigns and value-added services for the wider ecosystem of customers, riders, merchants and business partners.
As part of the collaboration, there will be various key programmes and co-branded engagements featuring Aeon Bank’s Neko and FoodPanda’s Pau-Pau mascots. Here are several initiatives in the pipeline from both brands:
For Riders
- A joint programme to support delivery riders in enhancing their mobility and livelihood, including access to Aeon Bank’s digital banking offering, financial tools and essential work resources, such as microfinancing for devices and motorcycle purchases
- Financial literacy initiative to expand outreach and financial empowerment among the riders
For Merchants
- Targeted campaigns with Aeon Bank for foodpanda’s merchants
- Financial solutions for merchants through the Aeon Bank to Business (AB2B) Programme and financing for wholesale purchases, enabling inventory expansion and business growth
For Customers
- Special rewards and promotions for customers, while adding value to their foodpanda orders
- Expanded access across the Aeon retail ecosystem, hence allowing customers to purchase groceries online beyond just AEON MaxValu Prime, thereby increasing convenience.
According to the joint statement, the alliance between Aeon Bank and FoodPanda Malaysia highlights a shared commitment towards improving the financial well being of the thriving community, driving innovation and supporting Malaysia’s socioeconomic development through digital inclusion. Both brands will leverage each other’s strength, aligned with a strategic mission to provide value based, customer-centric digital financial solutions that will deliver dynamic growth.
Aeon Bank CEO, YM Raja Datin Paduka Teh Maimunah Raja Abdul Aziz said, “This strategic partnership with foodpanda marks the beginning of an exciting chapter for Aeon Bank. We look forward to providing value to foodpanda riders and merchants by enabling access to digital banking, rewards programmes and services that elevate their experience. By optimising foodpanda’s expansive network and connecting it with Aeon Bank’s Shariah-compliant products and Aeon Points loyalty programme, we aim to deliver meaningful impacts to the target segments — particularly gig workers and MSMEs — while driving growth and engagement.”
The strategic partnership is expected to contribute to Malaysia’s rapidly growing food delivery and online grocery sector, where user penetration is expected to reach 34.2% in 2025, and with over 14.5 million users by 2030.
Meanwhile, FoodPanda Malaysia MD Tan Ming Luk said, “We are thrilled to join forces with Aeon Bank to create real, tangible benefits for everyone in the FoodPanda community. For our riders, this partnership goes beyond deliveries — it enables access to tech-driven financial support, microfinancing and financial literacy programmes that can improve their livelihoods. Meanwhile, our merchant partners will have greater opportunities to grow their businesses faster with targeted campaigns and financing solutions to scale their operations. And for our customers, they can expect more value and convenience with exclusive rewards and easier access to Aeon’s retail ecosystem. This partnership is more than just a commercial collaboration — it’s about empowering riders, accelerating merchant growth and making every customer experience even more rewarding.”
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