The Star Malaysia

More shops to accept e-wallets

Merchants push for mobile payment apps to avoid credit card surcharges

- By AMALINA AKASHAH newsdesk@thestar.com.my

PETALING JAYA: More merchants will be introducin­g e-wallet and mobile payment applicatio­ns to “side-step” credit and debit card surcharges.

The merchants are looking at vcash, Visa Checkout, Samsung Pay, Masterpass and MOLPay, among other e-wallet applicatio­ns, to enable customers to enjoy cashless transactio­ns without having to pass the surcharge to them.

Malaysia Retail Chain Associatio­n (MRCA) president Datuk Seri Garry Chua said its members were on track in offering cashless payment options.

“Most of our members have already adopted such payment systems for their sales,’’ he added.

Chua said the popularity of online shopping would help boost cashless payments, which would help spur retail sales.

“Cashless payments are also popular among foreigners as most of them prefer not to carry cash with most paying through mobile and e-wallet applicatio­ns,” he said.

Chua said the national economy would greatly benefit from a cashless society.

“We need to keep up with the times, as more and more countries are adopting mobile app payments,’’ he said.

Asked to comment on merchants passing credit and debit card sur- charges ranging from 2% to 3% to customers, Chua said this was not an accepted practice in MRCA.

He said while he could understand why some merchants with tight profit margins did so, the MRCA did not condone it.

On Wednesday, Bank Negara cautioned retailers not to pass the sur- charge to customers who used credit and debit cards.

Merchants are typically charged a transactio­n fee, also known as a merchant discount rate.

Bank Negara said consumers could report merchants who imposed such charges to their respective banks or credit card issuers.

 ??  ?? Growing acceptance: Mobile payment applicatio­ns are increasing­ly common, such as Samsung Pay being accepted at this food outlet in Tropicana City Mall, Petaling Jaya.
Growing acceptance: Mobile payment applicatio­ns are increasing­ly common, such as Samsung Pay being accepted at this food outlet in Tropicana City Mall, Petaling Jaya.

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