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Cashless Pasar, Here We Come – E-Wallet To Be Mandatory For Market Traders To Renew License

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.

Kirat Kaur

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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
Credit: @kpdnhep/Facebook

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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