Malaysians Prefer E-Wallets For Easier Digital Transactions

Sending and receiving funds from e-wallets and online banking gets more convenient with the ShopeePay’s DuitNow Transfer function. The idea of going cashless may have once seemed unimaginable. However, with e-wallets becoming so ingrained in our lives, the unimaginable thing instead would be going through a day without using it. At the latest count for 2022, there are over 40 e-wallet licensed operators, paving the way for Malaysia to become a cashless nation.

Malaysians Prefer E-Wallets For Easier Digital Transactions

E-payment methods may have been introduced way before the COVID-19 pandemic but it was during the pandemic where Malaysia experienced a tremendous uptake in its usage. Even now, as the nation moves out of the pandemic, Malaysians continue to use their e-wallets as a convenient way to transact digitally.

And with the e-wallet space becoming competitive, users get to enjoy many attractive incentives such as cashback deals, discounts, and loyalty points, and even government COVID-19 assistance programmes through e-wallet disbursements.Under the Malaysian government’s initiative programmes, e-Belia 2021 and e-Pemula 2022, RM150 in e-wallet funds were given to all youths aged 18 to 20 as well as full time undergraduates in Malaysia’s higher education institutes (IPT).

The programme is offered through four e-wallet services providers, including ShopeePay, which has a network of more than 1 million merchants, both offline and online. Local entrepreneurs, especially youths who want to venture into the business world were encouraged to start accepting cashless payments to accelerate the shift to a digital economy.

NOT JUST FOR PAYMENTS

There is almost no need for cash or cards as your smartphone can easily do everything you need – even beyond payments. These days, e-wallets have also become a preferred method for sending or receiving funds amongst friends, family, and for the purpose of e-commerce.

An integrated mobile wallet such as ShopeePay offers users a seamless shopping experience such as making online payments on Shopee, topping up their wallets, transferring and withdrawing funds and making payments offline at thousands of merchants. Need to send somemoney to your spouse? Use your e-wallet. Paying for a book you purchased from an online seller? Transfer the funds with your e-wallet. You can even use your e-wallet to gift an angpow or duit raya to a niece who lives in a different state.

Which essentially is the advantage of using your e-wallet, such as ShopeePay: convenient, real-time, flexible and yes, it’s safe too as data in e-wallets are encrypted and requires strict user verification before any transactions can be made.

MAKE REAL-TIME TRANSFER VIA SHOPEEPAY WITH DUITNOW TRANSFER

E-wallets can also be linked to your bank account where you can essentially top up your e-wallet with funds from your account. If you are a ShopeePay user, linking your bank account to your e-wallet gives you another advantage: You can easily make money transfers from your ShopeePay e-wallet in a simpler and more straightforward way thanks to the newly introduced DuitNow Transfer feature.

Since September 2022, ShopeePay users can send or receive funds in real-time from other e-wallets or any online banking platforms using their DuitNow IDs. This means users no longer need to type long account numbers. Just take note that with ShopeePay, users are only allowed to activate their mobile number as the DuitNow ID for the e-wallet’s DuitNow Transfer service.

The service is also only available for ShopeePay users who have activated their Premium accounts (by verifying their NRIC). The DuitNow Transfer transactions are free, and there is no limit on the number of DuitNow Transfer transactions you can perform from your ShopeePay e-wallet.

Here are simple steps on how to enable the DuitNow transfer service:

1. Tap on the “Settings” icon in your ShopeePay page in the app
2. Tap on DuitNow, agree to the T&C, and tap on “Link DuitNow to ShopeePay”
3. Obtain a verification code via WhatsApp, voice call, or SMS
4. Key in the verification code to successfully register your phone as the DuitNow ID for ShopeePay.

LET’S HEAR FROM SHOPEEPAY USERS

Just how convenient is it using ShopeePay with DuitNow Transfer? Here are what some users have to say about it:

Amirtharaj Bathmanaban, Selangor

My friends and I love going out to try new dining places. When it comes to payment, someone would usually pay first and the rest of us will transfer our share to his or her ShopeePay e-wallet using the DuitNow Transfer feature. It’s instant and convenient as there’s no need to launch our online banking app, key in the account number, wait for the OTP and then only transfer the sum. With ShopeePay, all you have to do is click on the DuitNow Transfer button, type in the mobile number, the amount to transfer, your ShopeePay pin and you’re done! The money is transferred instantly into my friend’s account too!”

 

Lawrence Goh, Kuala Lumpur 

“Before when someone asks for my bank account number to transfer funds, I would have to make sure I forward all the right digits numerous times… and even then, I’ve made mistakes before, making the entire process cumbersome and error prone! Now, with ShopeePay, I am able to send and receive funds using my DuitNow ID, I just have to give them my mobile number and they can transfer the amount to my bank account instantly. So easy and convenient.”

Hindumaathy Athimoolam, Selangor 

“I use my ShopeePay e-wallet to pay for things on Shopee. I also send and receive funds instantly with my bank account linked to ShopeePay. It’s useful not having to remember my account number, and because I use ShopeePay so often, it’s easy to use just one e-wallet for everything instead of having to use multiple e-wallets and online banking apps at the same time. This way I can keep track of my expenses.”

DUITNOW TRANSFER PROMOTION!

Starting from 17th October, cash-in a minimum of RM50 to ShopeePay e-wallet via DuitNow transfer and get RM10 Cashback + 100% Coins Cashback Voucher.  

For more information on the DuitNow Transfer feature on ShopeePay, please visit this link: https://shopee.com.my/m/DuitNow-Transfer