evolution in technology in Malaysia
The opening of this technological decade is bringing up the evolution in technology and bringing the country towards a cashless society.
The Malaysian government is gearing up for the cashless society and also rolled out a new initiative with there all new e-wallet, and also launched a program named “e-Tunai Rakyat,” which is going to provide the impulse for the adaptation of the public e-wallet.
The global consumer purchase is reshaping themselves very fast with the development of mobile and digital technologies. Talking about Malaysia, finance minister Lim Guan Eng mentioned his point towards the government initiative of distributing a one-off RM30 e-credit to eligible Malaysian e-wallet users is one of the efforts of the Malaysian government to encouraging a digital payment adaptation.
The e-Tunai Rakyat program is in line with the government’s shared prosperity vision 2030 (SPV2030), which introduced for lowering the barrier to access digital technology and also to make the digitalization process inclusive for all the people in the country.
RM30 will receive through any of the participating wallets for the citizens of Malaysia who earn less than RM 100,000 and aged 18 years and above. The RM30 must spend between January 15 and March 14, 2020, and any unused portion will expire after the given time through digital money
When the consumer switched to digital banking through digital currency, then conducting business will become more productive and more efficient said university Tun Abdul Razak economist, prof emeritus Dr barjoyai bardai. And one consumer get used to the digital currency, they will be more willing and encouraged to undertake business dealing
The final result in business dealing can get bigger and have a positive impact on the economy and business volume. Online transactions will also go to help in improving the quality of life when people undertake an online purchase, which is going to solve the time. This means the consumers need not go to the bank for formal business matters, and all the work can be handled online.