KUALA LUMPUR, Dec 16 — Visa Malaysia is confident about posting double-digit growth in contactless transactions in 2020 as Malaysians are embracing contactless payments as a faster, more convenient and secure payment method.
Visa country manager for Malaysia Ng Kong Boon said that Malaysia is one of the fastest growing countries in Asia Pacific for contactless payments growth and adoption, which are expected to further accelerate in the next 12 months.
The recent Fintech Showcase at The Orbit exhibited Visa’s support for the fintech community by creating innovative solutions to solve current friction points in payments and develop them quickly.
The Orbit is a co-working space established by Malaysian Digital Economy Corporation Sdn Bhd (MDEC) which serves as a nexus for local and foreign fintech start-ups to interact with industry leaders to ease solution development and data entry.
Ng said that through partnerships with Visa, fintech companies would have the potential to extend micro-financial services to the undeserved segment.
“We are actively engaging in the fintech community to understand where synergies exist, in order to foster and bring new payment experiences in a secure and scalable manner,” he said.