ePemula will help drive cultivation of cashless transactions in Malaysia - Tengku Zafrul

Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said total cashless transactions went up 74.4 per cent to 1.1 billion in 2021 compared to 2020, reflecting that businesses and consumers are getting more comfortable with using it in shops.

"Through the ePemula programme, the government hopes to maintain the momentum of electronic cash or e-tunai, as it hopes to drive the use of digital financial services.

"The implementation of e-tunai not only helps to make things more convenient for consumers but also prioritises aspects such as inclusiveness, safety and transparency," he said at the launch of ePemula by Prime Minister Datuk Seri Ismail Sabri Yaakob in Cyberjaya.

E-wallet companies involved in the Pemula initiative are BigPay, GrabPay, ShoppePay, and Touch 'n Go eWallet.

At the end of last year, Malaysia recorded a rise of almost 60 per cent in business registrations for the e-tunai DuitNow QR code to 1.1 million touchpoints or physical payment centres. Combined with the network payment points of the four e-wallet providers for ePemula, there were 1.2 million touchpoints to facilitate cashless transactions for both consumers and businesses.

Tengku Zafrul said the wide network will ensure that the implementation of ePemula will be comprehensive, covering the whole country, including small towns, benefiting more youths and students.

With the resumption of economic activities as the nation transitions to the endemic phase of the coronavirus, e-Pemula will help drive the use of e-wallets for physical purchases, he said.

"The government hopes that with the allocation of RM300 million for ePemula, it will encourage consumers to support local businesses, especially micro, small and medium enterprises (MSMEs) who have been badly hit by the pandemic," he added.