THE rise of contactless payments has the media talking about the fast-encroaching cashless society. Especially since the Covid-19 outbreak, contactless payment has become part of the new normal.
We see bright days ahead with fewer cash-based crimes, easy budgeting – transactions are just a few taps away on our phones – and shorter queues at the supermarket.
That’s right, no more coin counting at the checkout counter.
With increased confidence in online transactions, the role of mobile has propelled the cause even further and Malaysia is paving its way towards a cashless society.
We see it in government initiatives such as ePenjana and eTunai Rakyat, which encourage locals to normalise ewallets as the primary payment solution at counters.
Wong Kim Choong
KUALA LUMPUR: The United Overseas Bank (M) Bhd (UOB Malaysia) remains committed to providing repayment relief to its customers who are affected by the reintroduction of a nation-wide Movement Control Order (MCO 2.0).
The bank is also extending support to the victims of the recent floods in several states across the country.
“Customers whose sources of income are affected by either the MCO or the floods can apply for the bank’s targeted loan/financing repayment scheme by June 30,” UOB Malaysia said in a statement Thursday.
The bank said customers can apply for deferment of loan/financing payments, reduction in monthly instalments or an extension of repayment tenures.
BERNAMAPIX
PETALING JAYA: UOB Malaysia said it remains committed to providing repayment relief to its customers who are affected by the reintroduction of a nation-wide movement control order (MCO 2.0), as well as to those who are victims of recent floods in several states.
In a statement, the bank said customers whose sources of income are affected by either the MCO or the floods can apply for its targeted loan/financing repayment scheme by June 30.
“They can apply for deferment of loan/financing payments, reduction in monthly instalments or an extension of repayment tenures. All applications will be considered on a case-by-case basis. The acceptance of the targeted repayment assistance during this period will not appear in the customers’ Central Credit Reference Information System (CCRIS) report,” it said.
In an instant reaction to Prime Minister Tan Sri Muhyiddin Yassin’s RM15 billion economic stimulus package announcement today, Bank Negara Malaysia (BNM) said loan takers can request repayment moratorium and that their Central Credit Reference Information System report will not be affected at a time when the nation contends with the economic impact of the Covid-19 pandemic.
Bandar Sungai Long morning market traders in Kajang are relieved that they are permitted to carry on with business during this period. Photos: GRACE CHEN/The Star
THERE was visible decrease in customer traffic at the Bandar Sungai Long morning market in Kajang, Selangor due to the movement control order and proclamation of Emergency, which left traders worried about their livelihood.
“We were so anxious on Monday, ” said Fanny Lim.
“So many of us were worried that our livelihoods would be affected again.
“But when Kajang Municipal Council gave us the green light to continue trading, we could not help but feel relieved.