In this article, I thought of sharing a story about a friend of mine, Lee, who is an affiliate trainer for the Fingo social e-commerce business platform in Malaysia.
I met him back in February 2020 just before Malaysia went on Movement Control Order (MCO) 1.0.
During my meeting with Lee, I shared with him the network marketing business me and my wife have been working on.
Lee is a trainer of the Fingo Preferred Shoppers in his Fingo business.
I met with Lee just to check with him if he is interested to build a multi level marketing (MLM) with a legit direct selling company in Malaysia.
Lee said he is not interested in MLM or direct selling.
His response was not surprising because most people that I met have a misconception towards the MLM industry.
I asked Lee since he is not interested in direct selling, why is he building a business using Fingo?
Lee shared with me Fingo is neither direct selling nor MLM, it is a totally new kind of business opportunity.
Fingo is social e-commerce.
My Fingo research
After my meeting with Lee, I was very keen to find out what is Fingo all about.
I wasn’t very sure what is social e-commerce and decided to do more research on Fingo.
I found a good historical timeline of Fingo Malaysia written on ezbusinessreview.com/.
My friend Lee was right, Fingo Malaysia is neither a direct selling company or a MLM business in Malaysia.
According to the above website:
“Fingo explains that their affiliates will not recruit agents or do any direct selling activities.
Instead, they are giving cashback and discount vouchers to customers who download the app.
As a result, Fingo is not a MLM company.“
Since Fingo is not a direct selling business in Malaysia, it does not need a direct selling license to operate it’s business in Malaysia.
Since Fingo does not have a direct selling business license, it is unlikely the company is a member of the Direct Selling Association of Malaysia (DSAM).
Fingo in Malaysia
It has been more than a year since I last met with my friend Lee and we only kept in touch through WhatsApp.
On 2nd February 2021, Fingo Malaysia sent out a notice of closure of it’s Malaysia office.
According to the eCommerce platform, their business was badly affected by the COVID-19 pandemic and they couldn’t find a solution to overcome its challenges. Despite the closure, it promises to fulfill all paid orders. For unfulfilled orders, Fingo says it will issue a refund instead.Fingo Malaysia
Since Fingo Malaysia has ceased operation, my friend Lee has now moved on to another business venture.
What’s the alternative
If you are an ex Fingo Preferred Shopper that has been building a side income source using the Fingo application, what other alternative can you do right now?
Based on me and my wife’s business experience, we would recommend network marketing.
However, not all network marketing business is the same.
To be successful in network marketing, you need to partner with a direct selling company that offers a unique type of product preferably in the health and wellness niche.
It has to be a Blue Ocean product.
If you are an ex Fingo Preferred Shopper and would like to build a stable home business by partnering with a registered and licensed network marketing company in Malaysia, click the link below to message me on my WhatsApp and I will share more with you.