KUALA LUMPUR, 27 Mac — Bank Negara Malaysia (BNM) recorded RM11.5 billion in cashless payment transactions last year, thanks to the availability of 4G and 5G coverage and Internet services nationwide, the Dewan Negara was told today.
Digital Deputy Minister Datuk Wilson Ugak Umbong said this shows an increase from RM9.5 billion in 2022 and RM7.2 billion in 2021.
“The ministry will continue collaborating with various parties to encourage entrepreneurs to adopt cashless payment methods in line with technological advancements.
“In this regard, BNM is the leading agency in promoting the use of e-payments among consumers and businesses to facilitate easy and secure digital transactions,” he said when winding up the debate on the motion of thanks for the Royal Address today.
Via the Jendela initiative previously implemented by the Communications Ministry, Wilson said 4G network coverage is being expanded throughout Malaysia so 100 per cent coverage in populated areas (CoPA) can be achieved by 2025.
Digital Nasional Berhad (DNB) will also complete 7,509 5G sites nationwide to increase 5G access further.
With a 100 per cent CoPA for 4G networks achieved and the completion of the 7,509 5G sites, the adoption of digital payments, especially among small entrepreneurs, will hopefully be expanded throughout the country.
— Bernama
