Implied Main Idea, Major, Minor

Lumpur, she found out that not all retail stores outside the Klang Valley use contactless payments, mainly due to bad internet connectivity and retailers not 15 trusting the system. III Realising the barriers to 'going cashless', the Government and industry players are working towards addressing the challenges in fostering greater adoption of e- payments. This includes building awareness and trust towards e-payments, widening e-payment acceptance among smaller merchants, addressing gaps in digital 20 connectivity and increasing the financial literacy of Malaysians. For example, to tackle gaps in digital or internet connectivity, the Government has already launched the National Fiberisation and Connectivity Plan 2019-2023 (NFCP). This plan will ensure that the public has access to high quality and affordable digital connectivity 25 nationwide. IV According to Bank Negara Malaysia, there were a total of 89.86 million e-money transactions in October 2019. In April 2020, this number jumped to about 93 million eWallet accounts, either card or network-based. According to the Bank Negara Page 2 / 12 Q + CONEIDENTIAL gDeSAOL.C9406n5E0l_obu x wary definition - Yahoo Search R * + -MTg5NjgwMjc2Njl2/m/MTg2MzM2NDcwMzgx/details VI "In terms of age, the above study found that for the elder community' who is already familiar with online shopping, the shift to cashless was not an issue. In fact, a small percentage of 30-40 year olds are still questioning the safety of internet transactions. The challenge will remain, regardless of age, for those who have not been exposed to or encouraged to use technology," says Ipsos Country lead (Malaysia) for Innovation and Market Strategy & Understanding (MSU), Pakee Charoenchanaporn. VII The sudden growth of eWallets signifies that Malaysians are open to exploring new ways to live, pay and transact, says the CEO of TNG Digital Sdn Bhd, Ignatius Ong. While the shift has been gradual over the past few years, the pandemic really 5 expedited the adoption of cashless transactions, especially that of eWallets, says Universiti Sains Malaysia (USM) economist, Dr Loke Ying Jia. Some of the attractions of eWallet is that it makes small value transactions more convenient, allows users to track their spending and introduces financial incentives and rewards by eWallet providers, says Loke. The government's eTunai and ePenjana initiatives 55 have also succeeded in drawing in more people to download eWallet apps. According to the Mastercard Impact Study 2020 published in June 2020, Malaysia leads Southeast Asia in mobile or digital wallet usage. Malaysia's eWallet usage is at 40% ahead of neighbouring countries. Lumpur, she found out that not all retail stores outside the Klang Valley use contactless payments, mainly due to bad internet connectivity and retailers not 15 trusting the system. III Realising the barriers to 'going cashless', the Government and industry players are working towards addressing the challenges in fostering greater adoption of e- payments. This includes building awareness and trust towards e-payments, widening e-payment acceptance among smaller merchants, addressing gaps in digital 20 connectivity and increasing the financial literacy of Malaysians. For example, to tackle gaps in digital or internet connectivity, the Government has already launched the National Fiberisation and Connectivity Plan 2019-2023 (NFCP). This plan will ensure that the public has access to high quality and affordable digital connectivity 25 nationwide. IV According to Bank Negara Malaysia, there were a total of 89.86 million e-money transactions in October 2019. In April 2020, this number jumped to about 93 million eWallet accounts, either card or network-based. According to the Bank Negara Page 2 / 12 Q + CONEIDENTIAL gDeSAOL.C9406n5E0l_obu x wary definition - Yahoo Search R * + -MTg5NjgwMjc2Njl2/m/MTg2MzM2NDcwMzgx/details VI "In terms of age, the above study found that for the elder community' who is already familiar with online shopping, the shift to cashless was not an issue. In fact, a small percentage of 30-40 year olds are still questioning the safety of internet transactions. The challenge will remain, regardless of age, for those who have not been exposed to or encouraged to use technology," says Ipsos Country lead (Malaysia) for Innovation and Market Strategy & Understanding (MSU), Pakee Charoenchanaporn. VII The sudden growth of eWallets signifies that Malaysians are open to exploring new ways to live, pay and transact, says the CEO of TNG Digital Sdn Bhd, Ignatius Ong. While the shift has been gradual over the past few years, the pandemic really 5 expedited the adoption of cashless transactions, especially that of eWallets, says Universiti Sains Malaysia (USM) economist, Dr Loke Ying Jia. Some of the attractions of eWallet is that it makes small value transactions more convenient, allows users to track their spending and introduces financial incentives and rewards by eWallet providers, says Loke. The government's eTunai and ePenjana initiatives 55 have also succeeded in drawing in more people to download eWallet apps. According to the Mastercard Impact Study 2020 published in June 2020, Malaysia leads Southeast Asia in mobile or digital wallet usage. Malaysia's eWallet usage is at 40% ahead of neighbouring countries