Cashless boom set to continue

A notice ' cashless payment' is display at a restaunt in Petaling Jaya.Cashless payments are surging globally and in Malaysians using e-wallets,especially among younger demographics. .—AZHAR MAHFOF/The Star.

PETALING JAYA: As more Malaysians opt for e-wallets over physical cash for their daily needs, the Association of Banks in Malaysia (ABM) is anticipating a further surge this year in the adoption of cashless payments. 

Citing data from the Bank Negara Malaysia Annual Report 2024, ABM said e-payment tran­sactions increased by 28% to 14.7 billion transactions compared to 11.5 billion transactions in 2023.