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Malaysia s real-time payments transactions surge by 864% in 2020: ACI Worldwide
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KUALA LUMPUR, April 7 The real-time payment transactions in Malaysia surged by 864 per cent to more than 68 million in 2020 from seven million in 2019 as Covid-19 accelerated shift to digital payments, according to a new global report from ACI Worldwide and GlobalData.
As for value, the transactions in 2020 were worth US$5.55 billion (US1=RM4.122), up 908 per cent from 2019, the Prime-Time for Real-Time report revealed.
By 2025, the report projected that real-time payment transactions in Malaysia are set to increase to 1.45 billion while compound annual growth rate for real-time payments likely by 96.04 per cent.