More retailers looking to offer digital payment options
PETALING JAYA: More retailers are looking to offer digital payment options to provide customers with convenience in this digital age.
But apart from just offering convenience, businesses, too, stand to benefit from going cashless.
“We need to look at ways to educate SMEs on the cost effectiveness of transacting the cashless way. It is also a more convenient transaction for them in terms of speed and efficiency,” said RHB Bank Bhd head of group transaction banking Chung Chee Kai.
Retailers are often not aware of the cost of leakages, particularly for cash-heavy businesses, he noted.
Factors such as security, logistics and administration when handling cash are costs that can be reduced when businesses leverage on digital technology.
While there are concerns among business owners over the cost of technology adoption, industry observers noted that the cost for companies to go digital has reduced considerably.
It is imperative that companies are equipped with the knowledge and infrastructure to tap into this new development to ensure that they do not get left behind as the business ecosystem progresses.
Chung, along with EasyParcel chief executive officer Clarence Leong and Storehub chieftain Fong Wai Hong will be sharing their observations, experiences and expertise on the subject matter at the upcoming SMEBiz Think Tank.
In the session “SME’s readiness towards e-payment”, they will also be discussing opportunities that SMEs can tap into in this area. SMEBiz Think Tank is organised by Star Media Group in support of SME development under The Star Outstanding Business Awards (SOBA).
The event, aimed at helping SMEs thrive in the era of change, will be held on October 2 at New World Petaling Jaya Hotel.
Participants will also have the opportunity to hear and learn from other companies that have succeeded in bringing their business forward by going digital.
Some of the other speakers that will be featured include Golden Screen Cinemas chief executive officer Koh Mei Lee, TheLorry.com co-founder and executive director Nadhir Ashafiq, Photobook Worldwide chief executive officer Leow Wee Jonn and Heng Hiap Industries managing director Seah Kian Hoe.
Business owners and executives will also have the opportunity to network with various industry experts and with other companies across the board.
The fee for the full-day event is RM300 per person and is HRDF claimable.
SMEBiz Think Tank is organised by Star Media Group with Digi, PKT Logistics Group Sdn Bhd and RHB Bank Bhd as main sponsors, Credit Guarantee Corporation as co-sponsor, Matrade as official trade promotion partner and New World Petaling Jaya Hotel as official venue.
For more information, call Star Media Group Events Business Unit at 03-7967 1388 ext 1233/1857 or email events@thestar.com. my.