You would be familiar with e-wallets by now with all the ones popping up in the region. Based on a report in The Star, cashless payments make up about 20 per cent of total payments in Malaysia and half of that involve e-wallets — and its use is expected to grow in the country. A Frost & Sullivan report predicts that Australia may be the first in Asia-Pacific to become a fully cashless society. It also estimates that Singapore may become 82 per cent cashless by 2022. According to Fintech News Malaysia, Bank Negara Malaysia has a 10-year plan that will come together in 2020 with the goal of 200 e-payment transactions per person and 30 debit card transactions per person within a year. Going cashless is a thing pretty much anywhere you are in the world. Keen to know more about it wherever you are? We have the deets on e-wallets and all the reasons why you should opt for cashless payments if you haven’t already jumped on the bandwagon.
DO IT FOR THE PERKS
It’s a virtual wallet you can use to pay for many different things. And it’s totally seamless — all you have to do is scan a QR code or tap the pay button on your e-wallet app to make payments. Once you start using e-wallets, you’re bound to fall in love with the technology and find yourself bringing cash around less.
This story is from the January - February 2020 edition of Her World Malaysia.
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This story is from the January - February 2020 edition of Her World Malaysia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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