KUCHING: The Pasar Malam Belia Metrocity in Kuching has achieved a milestone by becoming Sarawak’s first and largest cashless night market, with over 85 percent of its merchants adopting cashless transactions.
The cashless initiative is a collaborative effort between Payments Network Malaysia (PayNet) and Persatuan Penjaja Petra Jaya (PPPI), aligned with Bank Negara (BNM)’s ‘e-Duit! Selamat, Senang, Segera’ campaign to accelerate the use of electronic payment in Malaysia.
Deputy Prime Minister Datuk Seri Fadillah Yusof, who launched the event here last night (Jan 12), said this initiative is a step taken by the federal and state governments, supported by all banking entities, to prepare society for a cashless transaction system.
“It is certain that at the federal level, the focus is on digital economy and promoting e-payment to shift towards a cashless society throughout the country.
“Take China for example, they have embraced the cashless approach. Money cannot be traded in China, all transactions must occur via e-banking,” he said.
In stating this, Fadillah, also the Petra Jaya MP, highlighted the benefits of a cashless society in terms of good governance, citing its potential to prevent criminal activities such as robbery and theft, which often thrive on cash transactions.
“In a cashless environment, the risk of theft is reduced. It also helps to ensure a transparent tracking of financial transactions, which could reduce black transactions,” he added.
Since the launch of the cashless campaign on December 16 last year, the Pasar Malam Belia Metrocity has witnessed a substantial increase in transaction volume and value.
The night market has been running for eight years, with around 300 sites and more than 280 traders, attracting around 2,000 visitors every weekend.
Running until March 31, 2024, the campaign promotes the use of MyDebit & DuitNow QR, with incentives such as a RM1 instant rebate for a minimum purchase of RM10 in a single receipt for consumers.
Additionally, the top 30 traders stand to benefit from monthly cash incentives of RM150 to empower entrepreneurs and enhance the shopping experience.
Also present at the event were Chief political secretary to the Premier Fazzrudin Abdul Rahman, Paynet Chief Commercial Officer Gary Yeoh, PPPJ Chairman Mohamad Khairuzie Bolhassan and Head of BNM Kuching Office Mohd Irman Mohd Din.
