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M'sians ready to adopt mobile payments
Published on: Friday, February 17, 2017

Kuala Lumpur: Malaysians are ready to adopt mobile payments with seven in 10 expressing a willingness to use mobile wallets such as Samsung Pay, according to the Visa Consumer Payment Attitudes Study 2016.

In a statement Thursday, Visa said the study was conducted by Toluna on 500 Malaysians to gain insights and assess their payment attitudes towards cash usage, contactless payments, online shopping and others.

The Visa Mobile Attitudes Study was conducted by YouGov on 750 Malaysians to assess their attitudes towards mobile payments in September 2016, It also showed Malaysians are optimistic that mobile payments would replace cash and card usage one day.

"Malaysia has a relatively high smartphone penetration rate, with 71 per cent of the adult population owning at least one.

"The top categories that Malaysians would like to use mobile payments to make purchases include movie tickets, groceries and food & beverage," Visa said.

The Visa study also showed that 83 per cent of Malaysians are aware of contactless payments and 34 per cent have used it.

Sixty-eight per cent highlighted that they would choose to use contactless payments over cash, up 34 per cent as compared to 2015.

Visa Country Manager for Malaysia KB Ng said Malaysians were clearly embracing mobile and contactless payments as they recognise the benefits these methods provide.

"We are seeing double-digit month-on-month growth in contactless payments and remain positive that the introduction of mobile payments such as Samsung Pay and MaybankPay would continue to fuel this growth," he said. –Bernama

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