Cashless Pasar, Here We Come – E-Wallet To Be Mandatory For Market Traders To Renew License
This move is a part of the Retail Digitalisation Initiative (ReDI) to encourage traders to digitalise their businesses.
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Cashless pasars might soon be the norm for Malaysians as the government will soon be making e-wallet payment a requirement for license renewal at farmers’ and public markets in Putrajaya.
Bernama reports Deputy Domestic Trade & Consumer Affairs Minister Datuk Rosol Wahid explaining that this requirement by Putrajaya Corporation is to encourage traders to digitalise their businesses.
I am confident it will motivate many other micro, small and medium businesses to participate in going cashless.
Datuk Rosol Wahid, Deputy Domestic Trade & Consumer Affairs Minister
This move is a part of the Retail Digitalisation Initiative (ReDI) – a collaboration between the ministry and various government and private agencies.
According to FMT, these include the Federal Territories ministry, Housing & Local Government Ministry, Bank Negara Malaysia (BNM), Companies Commission of Malaysia (SSM), Maybank and Touch n’ Go.
The cashless revolution
A ministry survey found the level of e-wallet acceptance at 50% among traders at farmers’ and public markets in Putrajaya. Rosol is confident that with the “‘onboarding’ efforts”, that figure should top 90% by year-end.
However, for this year, the ministry is targeting 100 farmers’ markets and public markets to use the e-wallet facility in every transaction.
Eventually, the target is for 12,844 traders at 306 farmers’ markets and public markets nationwide to use the e-wallet system.
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