Electronic Payment Performance

Abstract

The increasing speed of e-payment adoption is driven by multiple factors: Generation Z (individuals born between 1990s to early 2010s), easy payment methods, open banking ecosystem, rewards incentive, network, and the onset of COVID-19 in 2020. The Malaysian government hopes through collaboration with banks and payments industries to reach a cashless society, leveraging on the existing infrastructure to accelerate the migration to e-payments. The problems that emerge in a cashless society and secured e-payment need to be well considered by the related parties, particularly the policymakers and regulators, to position Malaysia on the right path to embark on the most advanced global trend. Therefore, this chapter aims through contextual analysis to investigate the trend performance and social impact on secured electronic payment (e-payment) in Malaysia during the period of 2016-20.