February 29, 2024

We are creating some awesome events for you. Kindly bear with us.

Malaysia ranks 19th in government e-payment adoption

According to a recent report, a study by a global digital payments service provider has placed Malaysia at 19th among 73 countries in government e-payments adoption.

The Country Manager for Malaysia stated that the study ranks governments by quantifying their e-payment capabilities based on various indicators such as policies and infrastructure.

He noted that the government in Malaysia has taken major steps to move the country into the digital age.

Having one of the highest scores in Southeast Asia is a testament to the government’s efforts in transforming the country to become a digital nation.

The Manager noted that supporting factors such as infrastructure and socioeconomic conditions also played a crucial role in increasing the adoption of digital payments.

Malaysia has also done extremely well in the policy context of government’s commitment to e-payments security, support for fintech innovation and financial inclusion.

Contained in Visa’s Economist Intelligence Unit (EIU) global index and benchmarking study, the ranking was based on seven criteria – transactions between citizen and government (C2G), government-to-citizen (G2C), business-to-government (B2G), government-to-business (G2B), as well as the infrastructure, socioeconomic and policy environments to enable e-payments.

Of the seven categories, Malaysia was ranked first with a perfect score of 100 points, along with Australia, Canada, France, Germany and Singapore in the B2G transaction category due to various initiatives in the payments space.

Malaysia is also ranked eighth in the C2G and G2C transaction categories, where citizens can access a range of C2G and G2C transactions through an interoperable platform.

Norway tops the rank followed by France and Denmark.

Governmental efforts

According to a Government publication from November 2018, the Minister of Communications and Multimedia Malaysia believes there are 5 building blocks that need to be placed in order to boost digital adoption.

The five building blocks are:

  1. high-quality, world-class infrastructure at affordable prices
  2. tech talent development
  • increased Cyber Security vigilance
  1. development of platforms and enablers such as Digital ID, open data and open APIs and
  2. the legislation, policies and industry structures that support the growth of the digital economy.

Over the last few months, the Minister made announcements regarding high-quality, world-class infrastructure at affordable prices.

The Ministry has reduced broadband prices for the Malaysians which, in turn, has stimulated higher demand for fixed broadband services.

In addition, the Ministry officially launched the public consultation for the National Fiberisation and Connectivity Plan (NFCP) in October 2018. It is an ambitious plan to connect the entire country within 3-5 years at world-class standards – minimum 30 Mbps speeds, gigabit at selected areas at affordable rates.

Digital adoption will accelerate when people feel that access to the Internet is safe and secure. As such, Malaysia through my ministry has been championing the cause of cybersecurity through cross-border cooperation. Within the country, the ministry and agencies have begun to deepen their working cooperation with the Commercial Crimes Division as the serious crimes of the future will take place in cyberspace.

Data is the ‘fuel’ of the digital economy. Along with other agencies such as MCMC, MDEC and MAMPU, the Ministry is working hard to ensure that the appropriate platforms and enablers such as Digital ID, open data and open APIs are available.

As such, the Minister announced a new initiative by his ministry together with MAMPU and JPDP that aims to develop an open data exchange platform. This platform is intended to provide government data while encouraging the industry to share data.

Thus, the Minister noted that the government intends to do to increase digital adoption. However, this will require the support and participation of the industry. The Government and its partners will work, educate, invest and show the people of Malaysia that digital adoption is not only good but an absolute necessity in the current world.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend