KUALA LUMPUR, Dec 16 (Bernama) -- Global payments technology firm, Visa Malaysia, is confident about posting a double-digit growth in contactless transactions in 2020.
 
Ng Kong Boon, the Visa Country Manager for Malaysia, said Malaysians are embracing contactless payments as a faster, more convenient and secure payment method.
 
“Malaysia is one of the fastest growing countries in Asia Pacific for contactless payments growth and adoption, and we believe that this will further accelerate in the next twelve months," he told reporters after a tour of Visa’s fintech showcase, The Orbit, recently.
 
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.
 
The Fintech Showcase at The Orbit exhibits Visa’s support for the fintech community by creating innovative solutions to solve current friction points in payments and develop them quickly.
 
Ng explained 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.
 
Fintech firms value speed to execute their plans and simplicity on processes so that they can build, test and implement their solutions in an agile manner. “Visa’s approach ensures our clients and partners can create and deploy new commerce experiences that seamlessly incorporate secure digital payments with the same level of reliability, interoperability and security that everyone expects from Visa,” Ng said. “The Visa Fintech Fast-Track Program will make it easier for fintech companies to partner with Visa and access our global payments network.”
 
Meanwhile, MDEC’s Vice President (Growth Ecosystem Development) Norhizam Kadir said that Visa’s efforts were in line with the government’s policy to enhance digital adoption, especially to empower micro small medium enterprises.
 
"We want to ensure that our micro SMEs would have the right infrastructure and receive benefits from various digital platforms to help them grow further,” he said.

Source: Ruder • Finn Malaysia
 
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Josephine Yeo
Associate Account Director
Tel: +6016 8105085 / +603 6206 2285
 
-- BERNAMA