Table of Content

Acknowledgement

1.0 Deliberation of the issue of All Articles

2.0 The Summary of the Author’s Input
3.0 The Student’s Arguments of the Author’s Input
4.0 References
5.0 Appendix
Acknowledgement
1.0 The Deliberation of The Issue of All Articles

How do older people perceive and accept this cashless method, which also plays a
significant role in government, Nowadays, Malaysians' payment for goods and services is
changing rapidly. The government has introduced this cashless method since COVID-19 hit
the country at that time. Payment methods in Malaysia have increasingly moved to digital
options, with the rise of e-wallets and cashless payments. However, some traditional payment
methods, including credit and debit cards, remain popular. There are also new spins on
traditional payment methods, such as virtual credit cards and "cashless" cash on delivery. In
the article “The Determinant Factors That Influence the Generation Z and Older Generations
in Malaysia Toward a Cashless Society," by Hirnissa, Zariyawati, and Fadilla from the
Faculty of Business, Accounting, and Social Science, College University Poly-Tech Mara,
Kuala Lumpur, Malaysia, a survey is done on how the Malaysian society accepts and adapts
to the cashless payment in purchasing goods, especially how that method has an impact
among the older people.

Next, in the second article entitled “Consumer’s Perceived Value and Use Intention of
Cashless Payment in the Physical Distancing Context: Evidence from an Asian Emerging
Market,” by the researchers Jianming Wang, Ninh Nguyen, Xinru Jiang, Hoang Viet Nguyen,
and Muhammad Abid Saleem from Zheijang University of Finance and Economics, Charles
Darwin University, and Thuongmai University of Vietnam, this article focuses on how
contact less payment continues to gain acceptance among Asian retailers and how it enhances
the shopping experience for consumers while offering greater flexibility and enhanced
security for buyers.

The third article, entitled “Analyzing Consumer Adoption of Cashless Payment in

Malaysia,” Mahfuzur Rahman, Izlin Ismail, and Shamsul Bahri, from the Department of
Finance and Banking, Faculty of Business and Accountancy, University of Malaya. Kuala
Lumpur, Malaysia State that the purpose of this study is to convince consumers to adopt
cashless payment, which aims to save their time and enable them to conduct tasks more
quickly. Besides that, the COVID-19 pandemic has increased society’s reliance on digital
platforms for everything from meeting others via Zoom to shopping for groceries online.

All of the articles mentioned above talk about the pros and cons of going cashless
among older people and how to handle this problem. As an example, in China, the use of
cashless apps such as We Chat for payment is a challenge and a source of confusion for many
older people, but the government is calling on volunteers among young people to help them
learn to use the technology. Malaysia also can use this method to handle this situation.
2.0 The Summary of The Author’s Input.

Based on the three articles that I have read, all of it were really focusing on the benefit
of cashless payment. Online payments rule out the necessity to carry cash, and they also save
time, as business owners and customers no longer must queue up for ATM services. Payment
apps also help to keep track of our incoming and outgoing funds, which comes in handy
while filing returns.

The first article is from The Sun Daily which is entitled “Benefits of Going Cashless”
talk about the cashless become our economic environment increase. As evidence, Malaysia
reportedly the total amount of digital payment transactions between 2020 and 2025 will reach
double-digit, which is a positive sign based on Compound Annual Growth Rate. Since
pandemic the number of users using digital payment has increased, and it has already become
the new norm to society.

Next, the second article are from The Malaysian Reserve which is entitled, “Cashless
Society in Malaysia Within 3 Years” is more focuses on consumer data who is using the
cashless method. There are 96% of Malaysian people have used it, while up to 60% rise in
card usage was recorded during the pandemic. Across SE Asia, 93% of consumers use a
multitude of cashless payment methods including cards, contact less cards and mobile contact
less, mobile wallets and QR code payments. This is led by consumers in Singapore (97%),
Malaysia (96%), Indonesia (95%) and Vietnam (95%). An increasing number of consumers
are opting for cashless payments in markets where cash remains dominant, such as
Cambodia, the Philippines and Vietnam.
3.0 The Author’s Arguments of The Author’s Input

Online payment may seem easy and fast to society nowadays, however if we are not
on one’s guard cybercrimes may happen anytime in a blink of an eye. Cybercrimes in
Malaysia seems uncontrollable, we may able to report and catch the culprit but it is not 100%
guaranteed we will get our money back. One of the most common online payment frauds is
Someone knowingly sends money to your account or Google Pay and calls you to inform you
that the money was accidentally sent to your account and requests that you return the money
to their number. Your account will be hacked if you send the money back. So, if someone has
received money in error in an account, ask the caller to come to the nearest police station with
identification and take it as cash. The government has repeatedly warned citizens to be wary
of digital frauds via various advertisement platforms, television, radio, and police social
media handles. Therefore, it is our job to take the warned seriously and educate our family
members about it, because it may happen to us and people in our surrounding. There are
many others type of payment that we should beware of, such as QR Code Scams, Fake
Delivery OTP Scams, and phishing attack. (Outlook Business Team, 2023) Datuk Azman
Mohd Yusof, secretary general of the Domestic Trade and Consumer Affairs Ministry
(KPDNHEP), stated that the ministry received 12,348 scam complaints as of June 30, 2022,
with 4,114 of them involving online scam transactions. The ministry also received 24,018
complaints about online fraud and electronic media scams from 2020 to February 17 this
year, totaling RM21.7 million in losses. He also enhances that scams happen due to lack of
comprehension and awareness of cyber-security which has become one of the main factors of
cyber-crime. He also agreed that constant advocacy and consumer awareness programmers
are important to avoid the society being scammed. The society are responsible to come
forward and report the scam when it happens so that an appropriate action can be taken, and
our government could create build safer platform to do online transactions payment. On July
2021, he decided to launch Malaysia’s second iteration of its #TakNakScam awareness
campaign. The objective was to create awareness and educate our society on how to spot,
check and report those highly deceptive tactics employed by scammers. The campaign, which
lasted five months, was well received by the public, reaching 6.7 million people, and
garnering 234,000 engagements through various campaign channels. There was a downward
trend in the number of reported scam cases during the campaign period.
 To conclude, as a citizen, we should engage to the campaign that were organised by
the government by joining events, spreading the news, and doing whatever we could with the
power that we hold. In my point of view, PDRM CCID, KPDNHEP, Securities Commission
Malaysia, Bursa Malaysia Bhd, Malaysian Communications and Multimedia Commission,
Cyber-security Malaysia, The Association of Banks in Malaysia and Federation of Malaysian
Consumers Associations, should work together on fraud cases and create the strongest barrier
to prevent online fraud statistic in Malaysia increase. (Salleh, 2022)
References
Outlook Business Team. (2023, March 23). Beware Of Online Payment Frauds, This Is How
Scammers Can Steal Your Money. Retrieved from Outlook Website:
https://www.outlookindia.com/business/beware-of-online-payment-frauds-this-is-how-
scammers-can-steal-your-money-news-270879

Salleh, M. B. (2022, August 5). PDRM: Over RM5.2 billion lost to scams in two years. Retrieved
from The Edge Market: Make Better Decisions:
https://www.theedgemarkets.com/article/pdrm-over-rm52-billion-lost-scams-two-years

Azreen Hani. (n.d.). Cashless society in Malaysia within 3 years - The Malaysian Reserve.
The Malaysia Reserve. Retrieved April 8, 2023, from
https://themalaysianreserve.com/2022/06/17/cashless-society-in-malaysia-within-3-
years/