BNM launches e-Duit campaign, focus on e-payment education
29 Oct 2022 12:42pm
The Central Bank of Malaysia (BNM; Bank Negara Malaysia) - 123RF
BNM Deputy Governor Datuk Abdul Rasheed Ghaffour said with the slogan "Selamat, Senang, Segera", the campaign will run continuously for five years, in line with the Financial Sector Blueprint (FSBP) 2022-2026.
"We aim to accelerate e-payment adoption among businesses and households by 15 per cent per year for the next five years. In line with this aspiration, BNM and the payments industry will ensure readiness and access to various e-payment instruments such as payment cards, online payment, and a competitive PR code," he said at the launch of the campaign.
Abdul Rasheed said as a result of the joint efforts between the government and the payments industry, the use of e-payment has expanded in both urban and rural areas.
"Based on the Global Findex 2021 report by the World Bank, it is estimated that 79 per cent of adults in Malaysia used digital or e-payments during the Covid-19 pandemic.
"To further benefit consumers, efforts are being expedited to implement cross-border payment facilities," he added.
Abdul Rasheed also announced that five new financial institutions have joined the iTekad programme, making the total number eight so far.
First launched in 2020, iTekad is a "blended social finance programme to support low-income microentrepreneurs," BNM said in a statement in conjunction with the launch.
The five new members are RHB Islamic Bank Bhd, Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), Bank Simpanan Nasional (BSN), Bank Pertanian Malaysia Bhd (Agrobank) and the Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank).
"The iTekad programme has produced a performance that it can be proud of, with 95 per cent of its entrepreneurs having implemented online sales and 48 per cent having successfully generated monthly sales of over RM4,000," he noted. - BERNAMA
