Asia

Bernama-3,919 traders who are actively using e-wallets nationwide

Kuala Perris, June 30 (Bernama)-The Retail Sector Digitization Initiative (ReDI) program has received encouraging reactions as 3,919 traders are actively using electronic wallets for transactions across the country.

Datuk Rosol Wahid, Deputy Minister of Domestic Trade and Consumer Affairs (KPDNHEP), said this indicates that traders have begun to accept safer and faster cashless transactions.

He added that revenue from e-commerce transactions increased by up to 30% to RM254.6 billion in the first quarter of 2021, based on the records of the Malaysian Statistics Department (DOSM).

“Countries in Southeast Asia are currently at the peak of the financial revolution phase, with approximately 49% of the urban population already using e-wallet services.

“This number is projected to reach 84 percent by 2025,” he told reporters after doing public affairs in a state-level ReDI program last night.

According to Rosol, the use of electronic wallets in 2020 increased by 131% year-on-year to over 600 million.

“According to a recently released PayNet 2022 report, the percentage of Malaysians who use cash payments has dropped from 89% before the pandemic to 78%,” he added.

Rosol said that about 200 Perlis traders have begun to use electronic wallets for their transactions and hope that the number will continue to grow.

-Bernama



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http://www.bernama.com/en/news.php?id=2095862 Bernama-3,919 traders who are actively using e-wallets nationwide

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