openPR Logo
Press release

Malaysia: From "not knowing QR code" to "mobile payment everywhere"

07-12-2024 03:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Getnews

/ PR Agency: Press Release Agency
Malaysia: From "not knowing QR code" to "mobile payment

A few years ago, if you were in Kuala Lumpur, you might not be able to hold a conference call because of poor signal. At that time, who would have thought that Malaysia would become so "trendy". Now, Malaysia not only has QR codes, but is also about to become a "cashless society", all thanks to the help of Chinese technology.

When the epidemic came, everyone had to stay at home, and it was inconvenient to buy things and pay. As a result, electronic payment became popular. The government also launched an "ePemula plan" to directly send money to young people's e-wallets. Now, e-wallets such as Touch'n Go became popular, and everyone started to pay with their mobile phones. Now, in Malaysia, whether you are going to refuel, buy things, eat or take a car, you can use your mobile phone to get it done, which is super convenient!

However, Malaysia has also encountered many problems when developing the digital economy, such as poor network signals. But fortunately, there are Chinese technology companies, such as Ant Digital Technology, which have brought great technology to help Malaysia's e-wallets become more user-friendly and make the entire payment system more stable. In this way, Malaysians are more assured to pay with their mobile phones, and Chinese technology companies have also learned how to do business in other countries.

China's technology not only helps Malaysia, but also benefits the whole world! Through technological cooperation, China and other countries have made the digital economy flourish, everyone has made money, and the economy has become better. It's like everyone is building blocks together, everyone contributes a piece, and finally builds a super big castle. Now, Malaysia is one of the best in the electronic payment industry in Southeast Asia, and it is getting closer and closer to a "cashless society". This is all because China and Malaysia have cooperated well in technology and worked together.

Image: https://www.wdwire.com/wp-content/uploads/2024/07/image-2.png

Imagine that before, if Malaysians wanted to invest in multiple financial products, they had to use complicated Excel spreadsheets to track them. But now with the super APP KDI Go, everything has become super simple. All investments are like a chess game in front of you, clear and simple. In China, this kind of super APP is already very common, but in Malaysia, KDI Go is the first such comprehensive financial service platform. However, it is not easy for good things to gain a foothold in Malaysia. The regulators have to spend time figuring out how to use this APP and whether there are any risks; financial institutions also have to find a technical and experienced partner to cooperate.

Not only in the financial sector, but also in the real estate sector. S P Setia, a real estate giant in Malaysia, recently launched its own super APP - Setia Go. This APP is like a real estate housekeeper. It can not only help you manage your house, but also allow you to participate in various promotions and enjoy housekeeping services.

With the technical support of Ant Digital Technology, the update speed of Setia Go is so fast. It used to take a week or two to wait, but now it can be done in half an hour. S P Setia also plans to make more money with this APP, which is also quite rare in China. Why? Because the digital economy in Malaysia has not developed that fast, so these big companies can seize the opportunity more easily. In Malaysia, most industry apps are first developed by big companies, which is a bit different from China. Here, apps like Beike and Ctrip are mostly developed by third parties, and real estate companies and cultural tourism groups have only slowly transformed later. But in Malaysia, industry apps are like the "private dishes" of big companies, which are used for themselves first and then slowly promoted to the society. However, small and medium-sized enterprises in Malaysia are not so fast. Most of them are still at the stage of "having a website is good". This contrast between "fast and slow" is a microcosm of Malaysia's digitalization process.

Image: https://www.wdwire.com/wp-content/uploads/2024/07/image-3.png

The Internet world in Malaysia is like a toddler, with an unsteady pace but full of momentum. Touch'n Go and Alipay payment QR codes are almost everywhere in the streets and alleys. However, most Malaysians' exploration of digital applications is still at the entertainment level, enjoying the fun of videos, social networking and games. The KDI Go super app launched by KIBB is to fill this gap and allow Malaysians to understand and apply financial technology more deeply. However, as KIBB's managing director Xie Weiliang said, the current priority is still to educate users and enhance their awareness of financial technology.

Looking at the entire industry, Alan Ni of Touch'n Go also expressed a similar view. He believes that although Malaysia's electronic payment has achieved certain development, the attempt to use e-wallets for financial services is still in its infancy. This is both a challenge and an opportunity, indicating huge development potential in the future.

However, Malaysia's digital construction is not smooth sailing. The shortage of talent, especially in the field of AI, has become a key factor restricting its development. To meet this challenge, companies such as Touch'n Go have set up bases in Hangzhou, Wuhan and other places in China to attract and cultivate high-end talent.

Image: https://www.wdwire.com/wp-content/uploads/2024/07/image-4.png

At the same time, the Malaysian government has also demonstrated strong determination and action. They established the "Digital Transformation Department" and launched a series of plans and policies to promote the development of the digital economy. Schools are also not far behind. The establishment of the first artificial intelligence college has provided a strong guarantee for Malaysia to cultivate local AI talents.

The penetration rate of digital applications is also rising year by year. Especially after the epidemic, the penetration rate of e-wallets has achieved a leap-forward growth, almost catching up with the popularity of credit cards. The rapid development of companies such as Touch'n Go has added a strong touch to this trend.

Image: https://www.wdwire.com/wp-content/uploads/2024/07/image-5.png

In Malaysia, digital technology companies are gradually becoming the new favorites of young people. Last year, Touch'n Go, Grab, Shopee and other financial technology and e-commerce giants were listed in the list of companies that college students most wanted to join. This not only reflects the love and yearning of young people for the digital industry, but also indicates the unlimited possibilities of Malaysia's digital economy in the future.

Image: https://www.wdwire.com/wp-content/uploads/2024/07/image-6.png

It is worth noting that China's modern technology plays an important role in Malaysia's digital construction. From e-commerce giants to financial technology companies, from payment platforms to AI technology, China's scientific and technological achievements are benefiting Malaysia and even the world. This cross-border scientific and technological exchange and cooperation not only promotes the common development and progress of both sides, but also injects new vitality into the prosperity of the global digital economy.

Looking to the future, Malaysia's digital express has started at full speed, and digital payments in Malaysia will definitely become more and more popular. Fintech and e-commerce giants such as Touch'n Go, Grab, and Shopee will continue to bring their technological and market advantages, together with more industries and enterprises, to push Malaysia and even the world's digital economy to a new peak. In this process, although there will inevitably be bumps and challenges on the road, China's scientific and technological strength will always be around to cheer for global scientific and technological progress and economic development!

Media Contact
Company Name: Global News Online
Contact Person: Media Relations
Email: Send Email [http://www.universalpressrelease.com/?pr=malaysia-from-not-knowing-qr-code-to-mobile-payment-everywhere]
City: NY
Country: United States
Website: http://www.globalnewsonline.info



This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Malaysia: From "not knowing QR code" to "mobile payment everywhere" here

News-ID: 3579112 • Views:

More Releases from Getnews

Crown Plumbing Expands Comprehensive Plumbing Services in Portland, OR
Crown Plumbing Expands Comprehensive Plumbing Services in Portland, OR
Image: https://www.globalnewslines.com/uploads/2025/10/1760361006.jpg Crown Plumbing has announced the continued expansion of its residential and commercial plumbing services across the Portland, OR, community. The company has established a strong reputation for providing reliable repairs, installations, and emergency assistance, offering trusted solutions to both homeowners and businesses for their plumbing needs. The growth of Crown Plumbing's services comes at a time when many residents and businesses are seeking dependable professionals who can deliver timely and
Aletheia Capital Endeavours Launches RepIntel, a Campaign-Grade Platform to Accelerate Global Access to Therapies
Aletheia Capital Endeavours Launches RepIntel, a Campaign-Grade Platform to Acce …
Image: https://www.globalnewslines.com/uploads/2025/10/1760367933.jpg RepIntel reimagines pharmaceutical outreach as a core layer of global health infrastructure, converting field operations into a responsive intelligence network that channels lifesaving therapies to the patients and populations who need them most. Aletheia Capital Endeavours (ACE) today announced the launch of RepIntel, a precision field-intelligence platform designed to close one of healthcare's most persistent gaps: the failure of lifesaving therapies to reach the patients they were created for. Image: https://www.globalnewslines.com/uploads/2025/10/6c330dcfd21eef53048a9c0141b7a9eb.jpg The
Innovative Luxury Estate Embracing Modern Payment Solutions in Georgia's Prestigious Milton Community
Innovative Luxury Estate Embracing Modern Payment Solutions in Georgia's Prestig …
Image: https://www.globalnewslines.com/uploads/2025/10/1760367404.jpg Atlanta Fine Homes Sotheby's International Realty's luxury estate listing at 550 Blue Heron Way in Milton, Georgia, an architectural landmark known as Havenstone, is one of the first luxury homes in Georgia to officially accept Bitcoin as a form of payment for purchase. Atlanta Fine Homes Sotheby's International Realty has unveiled a pioneering luxury estate at 550 Blue Heron Way, Milton, Georgia-a showcase estate now offered for purchase with Bitcoin.
One of the Best Investment Companies That Buys Houses in Dallas
One of the Best Investment Companies That Buys Houses in Dallas
Image: https://www.globalnewslines.com/uploads/2025/10/1760334410.jpg OT HOME BUYERS Logo Helping Texas Homeowners Sell Fast with Fair Cash Offers Dallas, Texas - OT Home Buyers, recognized as one of the best investment companies that buy houses in Dallas, is helping homeowners across Texas sell their houses fast. Specializing in cash buyers in Dallas, OT Home Buyers provides fast, fair, and stress-free solutions for homeowners facing foreclosure, inherited properties, divorce, financial hardship, or distressed homes. With a focus on

All 5 Releases


More Releases for Malaysia

Nitrile Gloves Market Analysis, Research Study With Hartalega Holdings Berhad …
Nitrile Gloves Market growth is expected to be driven by rising healthcare expenditures, heightened importance of workplace safety, and growing awareness of healthcare-associated infections. The COVID-19 pandemic has led to an exponential increase in demand for a wide variety of PPE, including gloves. Disposable nitrile gloves are also often used by healthcare professionals to prevent contamination. The Nitrile Gloves Market research report provides a thorough and comprehensive analysis of the global Industry.
Non Dairy Creamer Market Future Trends, Revenue Growth, Profitability & Leading …
The "Non Dairy Creamer Market" business report 2021 contains worldwide analysis and estimation of various market-related factors that are incredibly crucial for better decision-making. Competitive analysis has been carried out in this industry analysis report for the major players in the market which supports businesses take better moves for enhancing their product and sales. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price,
Ophthalmology Market in Malaysia, Ophthalmology Industry in Malaysia, Covid-19 I …
Lower Ophthalmology Costs in Malaysia: Ophthalmology cost in Malaysia is estimated to be comparatively less i.e. 40% less or even more than the spending made by a patient on an average for the same treatment in the US and European countries such as the UK, France, Germany and others. Low cost of Ophthalmology in Malaysia allows patients from the other countries to save a significant amount of money while benefiting
Malaysia Ophthalmology Market, Malaysia Ophthalmology Industry, Malaysia Ophthal …
The report titled “Malaysia Ophthalmology Market Outlook to 2025- Increase in Ophthalmic Surgeries & Consultations driven by Increasing Ageing Population Proportion and Ophthalmology Technological Advancements" provides a comprehensive analysis of Ophthalmology Services in Malaysia. The report covers various aspects including market size (Total Revenue, Consultations Revenue, Number of Consultations, Surgery Revenue and Number of Surgeries), Market Segmentations by Clinic Specialty (Multi & Single Specialty), by Private and Public Clinics/Hospitals, By
Malaysia Agriculture Market, Malaysia Agriculture Industry, Malaysia Agriculture …
Agriculture sector is an important sector of Malaysia's economy. There are mainly 3 crops are produced including palm oil, rubber and cocoa. Additionally, country’s farmers produce a number of fruits & vegetables for the domestic market such as bananas, pineapples, coconuts, durian, cabbage, cucumber, long beans, tomato, chilli, okra, spinach, rice, rambutan and others. Country’s tropical climate is extremely favorable for the production of a variety of exotic fruits &
White Coffee Market Future Growth by 2027 | Oldtown(Malaysia), KOPIKO(Indonesia) …
The "Global White Coffee Market: 2020" Industry Report is a professional and in-depth study on the current state of the White Coffee Market by 4ARC Research . The White Coffee market is supposed to demonstrate a considerable growth during the forecast period of 2020 - 2027. The company profiles of all the key players and brands that are dominating the market have been given in this report. Their moves like