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With even the Sarawak state government throwing their hat into the ring with Sarawak Pay, it seems that everyone wants a piece of the ewallet pie.
Launched by Chief Minister Datuk Patinggi Abang Johari Tun Openg, the Sarawak Pay e-Wallet is the first of its kind implemented by the Sarawak government, which is also the first among other states in Malaysia to have undertaken this system.
Licensed and governed by Bank Negara Malaysia ( BNM), The Sarawak Pay’s ‘Scan & Pay’ feature allows each payment to be initiated by scanning the QR code on a biller’s slip, or scanning the code displayed by the merchants.
The app, available for download via Apple Store and Google Play, is a cashless mobile payment solution implemented by the state government to empower the state’s digital economy agenda. It represents a big step towards digitalising Sarawak economy.
This makes Sarawak the first state government in the country to implement the e-Wallet system, which is licensed under PaymentGalaxy Wallet and governed by Bank Negara Malaysia (BNM).
Sarawak Pay version 2.0 targets to increase the number of registered merchants from 100 at present to 10,000 by the end of this year.
According to Sarawak Multimedia Authority (SMA) general manager Dr Zaidi Razak, the authority is in the midst of discussion with foreign entities to pave the way for Sarawak Pay to go abroad.
“We have the vision of going international, which is why we have started an MoU (memorandum of understanding) with Singapore.
“We are also in discussion with operators of GrabPay and WeChat Pay. We will move beyond Sarawak to Semenanjung, and Indonesia is also a partner in discussion with us,” he said during a briefing on Sarawak Pay e-Wallet earlier last month.
Zaidi assured Sarawakians that SMA has looked into all aspects of security features to ensure the app is safe and convenient to use.
He added personal details made available to Sarawak Pay during registration are well protected under the existing laws and regulations.
“We are regulated by the PDPA, which is the Personal Data Protection Act, and governed by Bank Negara Malaysia (BNM),” he said.
Sarawak Pay version 2.0 also validates the user name and MyKad number during registration.SMA offers 10 pct cash rewards to merchants for transactions made using Sarawak Pay.
To entice more merchants to take up this venture, SMA is offering registered merchants 10 per cent cash rewards for every single collection transacted via Sarawak Pay.
“At the moment, we are providing incentives for merchants and users to join and utilise Sarawak Pay. We want many Sarawakians benefit from this initiative by SMA towards a cashless lifestyle,” he said.
Zaidi said there is no limit on the transacted amount made via Sarawak Pay per day, but SMA is offering up to RM1,000 worth of cash rewards on a monthly basis.
He said the authority is committed to helping the local commerce industry adapt to and adopt the digital and cashless way of doing business.
He added that such cashless services are offered free of charge by the Sarawak government, with the ultimate aim of benefitting the business community as well as consumers at large.
He also believed that using Sarawak Pay to trade and transact would help lower the cost of doing business in the long run.