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Visa targets 70% contactless payments nationwide

1st August 2019,

VISA Malaysia is aiming for about 70% of contactless payment services to be implemented across all payment terminals in the country by next year.

Its country manager Ng Kong Boon said the market for contactless payments has been showing a very strong growth in Malaysia.

“There are about 1,000 merchants using Visa wireless payments right now, with almost 30,000 payment terminals adopting the method in the local market.

“The service has shown tremendous performance in the country with over seven million transactions a month,” he told reporters after the launch of Visa’s joint venture with Cleanpro Express in Kuala Lumpur yesterday.

According to Boon, there are over 30 million Visa card holders in Malaysia with 70% of them being debit cards holders.

“At Visa, we see a huge opportunity for cash displacement and our rule is to make payment simple and convenient for everyone everywhere.

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Source: The Malaysian Reserve

Full Article: https://themalaysianreserve.com/2019/08/01/visa-targets-70-contactless-payments-nationwide/

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