Lifestyle Tech

Malaysian government remains bullish on National Cashless Boleh Campaign with PayNet

Payments Network Malaysia Sdn Bhd (PayNet) is giving their full support to the government’s digitalisation agenda with National Cashless Boleh Campaign to continue the strong digital payments growth momentum in the public sector. 

This was iterated at the prize giving ceremony for the recently concluded Cashless Boleh 3.0 campaign held at the Ministry of Finance Auditorium was officiated by YBhg. Datin Rashidah Mohd Sies, Deputy Secretary General (Management), Ministry of Finance. Also present were senior officials from Bank Negara Malaysia and Group Chief Executive Officer of PayNet, En. Farhan Ahmad. 

The third campaign is on the back for two very successful 6-month National Cashless Boleh campaigns. There were three significant achievements to date:

  • Overall public sector digital payments penetration rate crossed the 80% threshold at 81.3%, rising over 22% at both federal and state levels from just 58.8% since the campaign began in 2021. 
  • Selangor and Penang State governments crosses 80% digital payments penetration  
  • Eight (8) previously cash intensive public sector ministries and agencies reached full digital payments penetration1, namely Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN),  155 local authorities (Pihak Berkuasa Tempatan) through Ministry of Local Government Development (KPKT), Ministry of Investment, Trade and Industry (MITI), Jabatan Imigresen Malaysia (JIM), Majlis Amanah Rakyat (MARA), Mahkamah Persekutuan Malaysia (MPM), Pertubuhan Keselamatan Sosial (PERKESO), and Kumpulan Wang Simpanan Pekerja (KWSP)

This event honours the following agencies and government ministries for their roles in driving digital payments usage during the Cashless Boleh 3.0 campaign period: 

PERKESO Highest Penetration Rate for more than 3 million digital payments transactions  
MARA & MPM Highest Penetration Rate for more than 400,000 to up to 3 million digital payments transactions  
Jabatan Insolvensi MalaysiaHighest Penetration Rate for up to 400,000 digital payments transactions  
Selangor State Government Highest Penetration Rate among all participating state governments 
PTPTN, JIM, local authorities (Pihak Berkuasa Tempatan) through KPKT and MITI 100% digital payments penetration rate 
YBhg. Datin Rashidah Mohd Sies, Deputy Secretary General (Management), Ministry of Finance

Deputy Secretary General (Management), Ministry of Finance, YBhg. Datin Rashidah Mohd Sies said, “The government continues to focus on driving efficiencies and transparency within the public sector. Public-private sector collaborations to advance the nation’s cashless agenda such as these are welcomed since it contributes directly to that goal. The efficiency gained by the rakyat in time and cost as they deal with a cashless enabled government is immense.“ 

Farhan Ahmad, Group Chief Executive Officer of PayNet

Group Chief Executive Officer of PayNet, Farhan Ahmad said, “As the retail payments infrastructure provider for the nation, we are proud to facilitate the nation’s journey to embrace the digital economy. We do this by making digital payments available to the rakyat in a secure, accessible and inclusive manner.”  

“By harnessing the power of digital payments within the public sector, the country benefits from increased public trust and confidence, a more open economy and as a result, a more conducive environment to drive shared prosperity and innovation. With the current public sector digital payments adoption rate at over 80%, both the rakyat and the government are already experiencing these amazing benefits from the efficiencies gained. The impact is truly phenomenal and transformative to say the least. “ 

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