E money overview


The Covid-19 Pandemic has undoubtedly accelerated the growth of the electronic commerce (“e-commerce”) industry and the rise of cashless transaction in Malaysia. Cashless payment method including payments made via electronic money (“e-money”) was highly encouraged during the Covid-19 outbreak as it can effectively avoid physical contacts and facilitate social distancing. In fact, even before the Covid-19 Pandemic, Malaysians were no stranger to e-money. One of the most recognizable form of e-money which is widely used in Malaysia is the Touch n’ Go card.