Cyberjaya becomes the first city in Malaysia to go cashless
Image courtesy of thestar.com.my
In a collaboration between the Ministry of Finance Cyberview Sdn Bhd, as well as Payments Network Malaysia Sdn Bhd, Cyberjaya has become the first city in Malaysia to go cashless. The initiative which is called Cashless Ecosystem for Cyberjaya, which was originally introduced about two years ago, with more than 80% of the merchants adopting at least one e-payment solution.
Due to the number of e-wallet solutions that are available in Malaysia, Bank Negara Malaysia mentioned that they have developed the DuitNow QR, which allows merchants to accept payments from different e-wallets. Not only will this reduce the complexity when going cashless, but merchants and customers will also feel less overwhelmed.
With all that said, what are your thoughts on Cyberjaya going cashless? Let us know on our Facebook page and for more updates like this, stay tuned to TechNave.com.