Cashless payment methods have become a craze among generation Z and millennials because it makes things easier.
The presence of cashless payments has been introduced in this country since the last 20 years with the use of credit and debit cards. However, it is more lively with the presence of FPX, DuitNow and JomPAY.
During the pandemic era, Malaysia was one of the countries that took advantage of the use of e-cash to prevent the spread of the Covid-19 epidemic that hit at that time. Indirectly, cashless growth has a positive impact on the environment.
In 2022, Visa Consumer Payment Attitudes found that more than 90% of Malaysians are familiar with cashless payment methods and 70% of them use Visa.
Visa Malaysia Manager, Ng Kong Boon said about 92% of Malaysian respondents have indicated that they have used debit and credit card payments.
Most of them are interested in continuing to use cashless and 67% have not held cash for several days.
He also said that Malaysia is expected to become a cashless society by 2030. The majority of consumers will move towards cashless and will no longer depend on cash in their daily activities.
However, we must prepare for any eventuality. Yes, most cashless transactions require a strong internet connection and network.
Make sure you have cash in your pocket as an emergency preparedness!
