SHAH ALAM, Feb 14 — Menteri Besar Selangor (Incorporated) or MBI has signed an investment agreement for the development of e-wallets.
The agreement is in partnership with the Wavpay company, which was represented by its group founder Tan Chun Aik, as well as state executive councillor for trade and industry Dato’ Teng Chang Khim.
Teng, who is also Selangor E-Wallet Sdn Bhd chairman, said the cooperation is aimed at introducing apps that can connect all service and social-related financial initiatives.
If the working cooperation runs smoothly, it will be launched with an announcement on the e-wallet’s name within three months.
“This is in line with the wishes of Menteri Besar Dato’ Seri Amirudin Shari to develop a cashless community in Selangor.
“The implemented programme will be formed between the state government and existing e-wallet companies, complete with money lending licensing from Bank Negara Malaysia, and the Housing and Local Government Ministry,” he said during the press conference following the signing of the agreement earlier today.
Also in attendance was MBI chief executive officer Norita Mohd Sidek.
Teng added that recipients of aid from the state government will also receive it from e-wallets, which will serve to expedite the distribution of aid to targeted groups.
Doing so will make processing more convenient, as well as save on time for the recipients who really need the aid.
“The initiative will also boost service efficiency between the government, the people, small and medium industries, all complete in a digital wallet,” he said.
Teng said the e-wallet will serve to collect all business services of the Selangor government, local authorities, statutory bodies, and state subsidiary companies.
“Activities including tax payments to local authorities, and cashless parking payments can also be done through this platform,” he said.
During the 2022 Selangor Budget tabled in November last year, Amirudin said Selangor will launch an e-wallet service to bring about a cashless community.
He added that Selangor e-Wallet Sdn Bhd was formed to create cooperation with existing e-wallet companies.
