Cashless transactions: Have we gone too far, too fast?

Two sides: Cashless transactions have many benefits but what is the impact on the vulnerable members of society? — Filepic

IN BUDGET 2024, the government announced a framework to encourage cashless transactions among the rakyat. In fact, cashless transactions have been growing rapidly.

Bank Negara recorded a total of RM11.5bil in cashless payment transactions in 2023. The Deputy Digital Minister also indicated that cashless transactions increased from RM7.2bil in 2021 to RM9.5bil in 2022.