RETIRED teacher May C. never saw the need for cashless transactions. A June 2020 report, eCommerce Unleashed, by market research company Ipsos found that the pandemic has forced the market, society and businesses to look at cashless transactions on a more permanent basis. Earlier, the Budget 2020 provided RM30 to e-wallet users aged 18 and above earning less than RM100,000 annually in the e-Tunai Rakyat initiative. “The communities that may struggle to catch up with cashless payment would be the elderly, the lower income groups and those who are less technologically savvy, ” she says. Dr Loke explains that although digital transactions are beneficial in financial management and eliminating fraud, some consumers are still worried about data protection and privacy.

Source: The Star September 05, 2020 22:52 UTC