EVER since Bank Negara embarked on a 10-year roadmap to move towards a cashless society, the ever growing trend of cashless transactions has been increasing and is popular among the Gen-Y and post-Millennials.
Sunway Malls has taken the initiative to bring in leading e-wallet companies such as Boost, FavePay, GrabPay, Maybank QRPay, Touch ‘n Go Pay, and WeChat Pay for exclusive face-to-face sessions with retailers at a closed-door conference held at Sunway Pyramid Convention Centre.
No longer do you need to carry around cash and credit cards as your mobile phone can do the paying.
Numerous e-payment players in the market have emerged, providing shoppers with better deals and convenience.
Benefits of e-payment are that it enhances shopper experience, increases sales and it is quick and convenient.
“As the payment market continues to evolve, it is imperative that we stay abreast with the development of cashless payment to cater to new consumer demands,” said Sunway Malls and Theme Parks chief executive officer H.C. Chan.
Retailers who attended the conference were treated to a detailed and in-depth look at how cashless transactions would benefit their business and increase sales through intimate small group discussions with the five e-wallet companies.
To date, close to 35% of retailers across Sunway Malls are using some sort of e-wallet payment at their outlets and the malls hope to increase this number to cater to the ever growing trend of cashless payments.
The conference keynote was presented by Payment Networks Malaysia (PayNet) group chief executive officer Peter Schiesser, while Nielsen Malaysia client service director (consumer insights) Deep Chowdhury spoke on the topic of Cash or Cashless? Malaysia’s Payment Landscape. He shared insights on current Malaysian purchasing and spending behaviour in the retail industry and beyond.
Over 350 brands attended the conference, which was also Sunway Malls’ annual business partners meeting, to get the latest updates on the current market outlook and upcoming plans for each mall.