The Ministry of Youth and Sports (KBS) has struck a partnership with Digi Telecommunications (Digi), bolstering its move into the cashless transactions space. Moving forward, KBS will be one of the first arms of the government to implement a cashless payment solution within its bureau.
The ministry will be adopting vcash as its choice for cashless transactions, which is offered by Digi in partnership with Valyou. Vcash is a mobile payment application that looks to offer Malaysians an easy, more convenient way to pay, send, request and store money in their smartphones. It is also a service which is available across all telco operators and focuses on being safe, convenient, trackable and effortless for youths to adopt and use.
As of today, vcash has been enabled in three locations at Menara KBS - Rimau Cafe, KBS Gym and KafeTeratai, the local canteen located within Menara KBS. This allows customers to make payments with vcash, providing a level of convenience such as reducing the use of smaller denominations, and locating and queuing at ATMs, along with an enhanced layer of security in making payments.
vcash can be used not only at both physical touch-points such F&B outlets, but also online merchants under MOLPay and iPay88’s payment gateway networks. In addition, vcash also offers an in-app store that allows subscribers to purchase gaming credits such as Garena Shells and Steam Wallet, telco prepaid top ups, shopping vouchers and even pay their utility bills with organisations such as Tenaga Nasional Berhad (TNB), Astro, Telekom Malaysia (TM) while on the go.
According to YB Brig. Jen. Khairy Jamaluddin, Youth and Sports minister, nearly 2 million Malaysian youths have expressed their desire for a nation that is moving towards becoming a cashless payment society. Thus, it is imperative that KBS take significant steps in this direction to drive the cashless movement, as well as future-proof the country beginning now.
"In doing so, we hope to play a pivotal role in advocating and encouraging the adoption of cashless transactions,” YB Brig. Jen. Khairy Jamaluddin said.
“In 2017, we have seen the positive traction in both the government and private sectors to adopt cashless payment method due to it being secure and has low barrier to adoption. Today, with the support of the Ministry of Youth and Sports, our main aim is to continue being inclusive by providing a simple, convenient solution – vcash – that works for everyone,” Albern Murty, chief executive officer, Digi added.