Towards a Cashless Society
Tan Nyat Chuan, Director of Payment Systems Policy, Bank Negara Malaysia
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Bank Negara is in the middle of a 10-year financial blueprint to ‘modernise the payment landscape’ by 2020. They want see greater use of debit cards, displacement of cheques and more ubiquitous use of e-payments. The end result of this is disinflation: lower costs of credit/debit cards, a more fluid transaction process and generally lower costs of doing business.
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