News & Reviews:   cashless

Payments Network Malaysia Sdn Bhd, or PayNet, the company behind many of the digital financial technologies used in Malaysia, recently announced that it processed 8.44 billion cashless transactions throughout 2025. So, what should you know about it?

OpenSys Technologies has officially introduced their prototype Palm-based cashless payment system aptly called PalmWav. Previously seen mostly in China, it could soon let Malaysians pay with just a wave of their hands or to be more precise their palms.

Keretapi Tanah Melayu Berhad (KTMB) has announced that its ticket purchasing system will go fully cashless starting 1 January 2025. These include Klang Valley, northern, southern and east coast sectors.

The Penang State Government has annuonced that government services in the state will go 100 per cent cashless by the year 2030 in an effort to realise its digital transformation agenda. Penang Chief Minister Chow Kon Yeow elaborated that the State Government would intensify efforts to introduce cashless initiative soon, especially in major tourist hotspots. 

The Ministry of Health (MOH) has announced that all facilities under its helm will start going cashless from 1 October 2022. This is according to circular issued by its secretary-general, Datuk Harjeet Singh dated 21 June 2022.

Universiti Putra Malaysia (UPM) School of Business and Economic Assoc Prof Dr Anuar Shah Bali Mahomed has lauded the recently launched Malaysia Digital initiative for its ability to reduce corruption. Specifically, the initiative’s comprehensive implementation of a cashless system will reduce occurrences of corruption as bribes are usually made in cash to avoid being traced.

A new study by Visa have found that 93 percent of consumers in Southeast Asia have embraced cashless payment methods, including cards, contactless cards and mobile contactless, mobile wallets and QR code payments. Furthermore, the study found that 74 percent of Malaysian consumers have successfully gone cashless.

Just recently, PUSPAKOM Sdn Bhd just announced that all 54 PUSPAKOM checkpoints across the nation will switch fully to cashless payment transactions. The cashless payment is applicable for all types of vehicle inspections and it shall begin from 1 July 2022 onwards.

Starting from 24 May until 6 June 2020, Grab Malaysia has officially announced that you could your share of 1.5million GrabRewards Points simply by going cashless this Raya season with GrabPay. All you need to do to earn 50 GrabRewards Points is to simply send e-Duit Raya to your friends, or family members once a day for up to three transactions.

These days, collaborations between companies are more diverse than before. Many of them are partnering up with other companies that have nothing similar at all. For instance, fashion brands can be teamed up with food manufacturers like what Supreme and Oreo did to bring us those expensive red-coloured Oreo cookies. Now, we have a new collaboration coming soon which appears to be a partnership between Maybank and realme.