We were honoured to be both a keynote speaker and panellist at a cashless talk event organised by Digital Penang and Malaysian Business Angel Network, with the support of PayNet and Hong Leong Bank Berhad at Harmonico, Penang.

During the event, Azleena Idris, Senior Director of Strategy and ESG at PayNet, highlighted that the primary reason for business owners hesitating to adopt cashless systems is the perceived cost. However, she shared that transitioning to e-payments not only leads to savings in paper and labour cost for manual reconciliation but also results in a net positive impact of USD 4.2 billion for businesses and USD 171 million for consumers from 2017 to 2032 (over 15 years) according to Roubini ThoughtLab research done for Malaysia specifically.

Joanne Loh, our Director, also added how vending machine business owners positively attested to overcoming challenges such as counterfeit cash acceptance and financial losses.

Furthermore, Adeline Lum, our Manager of PR, Branding, and Communications, shared how our MyXaaS Innovation Platform can empower start-ups to develop applications featuring e-wallet Prepaid Card Issuance, e-commerce Services, E-KYC, Automated CDD, Digital Contract Signing, and more, in addition to becoming our agents for our e-commerce and Payment Device with incentives and/or profit sharing.

As a DuitNow Direct Sponsor Institution, we invite you to explore being our MyXaaS Partner and enjoy DuitNow QR, Cross Border Payments, Online Banking/Wallets, Request, Auto Debit, Pay Out, Cash Out, and QR Reward.

We look forward to more networking events with PayNet, Digital Penang, and Malaysian Business Angel Network.