Malaysia aims to achieve a 90% cashless payment target by 2025, with the current penetration rate ranging from 60% to 70%.
The end goal is at achieving fully cashless at 95%, a number borrowed from full employment in economic contexts,” he told reporters at the prize giving ceremony for the concluded Cashless Boleh 3.0 campaign at MoF today. Majlis Amanah Rakyat and Malaysia Examination Council have achieved the highest penetration rate for more than 400,000 up to three million digital payment transactions.
MoF deputy secretary-general Datin Rashidah Mohd Sies said the government focuses on driving efficiencies and transparency within the public sector.
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