eWallet Malaysia Payment Platforms Shining Bright Amid Pandemic
Electronic Payments in Malaysia Now Stronger Than Ever
eWallet Malaysia has become the preferred method of payment over traditional cash payments. Especially amid the COVID-19 pandemic and movement control period.
The Money Evolution
Payment methods have certainly come a long way, thanks to the rapid developments in technology. Although cash payments still have a place among Malaysia’s society, electronic methods are quickly climbing up the ranks.
Evidence of this was clear when the COVID-19 pandemic struck, out of nowhere. Suddenly, eWallet big names like Touch n’ Go and Boost had the spotlight on them. This is because there were several advantages associated with using these payment methods.
Why eWallet Malaysia Is Growing in Popularity
The cashless lifestyle is quickly becoming a preferred option for its safety and hygienic advantages. Especially since the COVID-19 pandemic. It’s quicker, convenient, and a secure way to transact for both the public and businesses.
Even better, there is no extra cost involved. Customers pay the exact retail amount and payments are made automatically. Since cash still poses a potential health risk in the current situation, eWallets are more welcome than ever.
The paper-free method makes it great for the environment, minimising the demand for paper. eWallet Malaysia payment methods have an app to themselves, which makes it much easier. The Government’s movement control order (MCO) has contributed to raising the demand for this method of payment. Customers now value the convenience of doing everything through a single app.
They can pay their bills, buy pre-paid top up, pay zakat, buy street parking, apply for micro-insurance, order food, make donations and so much more. It’s not all about online shopping alone. The promotions within the app have also been a great motivating factor.
Times have been hard lately, but there is a silver lining. Ewallets shed light on how cash transactions has made many things possible during the movement control order. In times of financial constraint, people are looking for great deals and promotions. Especially on essential items to help them cut costs.
Cashback, rewards, and better savings from merchants make eWallet Malaysia payment methods even more attractive. The nature of these payment methods makes accountability and transparency even easier. This minimises the risk of corruption, benefitting both customers and businesses.
With Touch n’ Go eWallet for example, customers get both RM10 cashback and RM10 bonus in one HelloGold Pro account. This is for every RM100 worth of gold they purchase through the platform. Personal loan applications with CIMB Bank can be done through the platform too.
Boost users got to send e-Duit Raya this year, even though many could not be with their families. It was all so easy through the “Send Money” function. Boost’s Premium Wallet feature also now has a RM4,999 limit, a significant increase from the previous RM1,500. Convenience with the tap of a few buttons. No wonder Malaysians are loving it.
With every transaction tracked and recorded, everyone can shop online and transact with peace of mind. Merchants are quickly adapting and changing with the times. This has made eWallet payment methods even easier to adopt.