Soon, you no longer have to bring your wallet. Pay for anything simply by using your smartphone – even at the market with no minimum purchase.
Malaysia has been using cashless method for quite some time but it has not gone beyond cashless. We still need to queue up to withdraw money from the ATMs as many merchants still don’t accept card payment.
One of the reasons why adaption is slow is because merchants are being charged with high fees.
However, in recent years there are many startups and innovative companies providing payment solutions that will make cashless payment even easier.
In China, people no longer carry cash with them. They can make payment via smartphones at supermarkets, cafes, clinics and even at the markets. Have a look at this video below:
We would like this a reality in Malaysia as well so with that we are working closely together with Cyberview, the Tech Hub Enabler of Cyberjaya to build a cashless society.
The pilot is planned to start within the next few months so if you’re keen to be part of this, please do sign up here!