Are the people of Malaysia ready for a cashless society?
Cashless society can be realized with the attention of the government in the preparation of adequate and equitable digital infrastructure, digital literacy and financial literacy.
A cashless society is for those countries that are already fully developed, which Malaysia is not yet unfortunately. But this will be done gradually and step by step of course. This will not be done at an instant. I believe Malaysia has a lot of rural areas which cannot cope with this advancement of cashless technologies and policies. The country has to take into consideration these areas as well.
First and foremost I wonder why they are now planning on limiting the so called Cash transactions in the first place and the first thing that comes to mind is that they have realised the obscene amount of money that they spend when it comes to printing FIAT and they are taking steps to reduce it and make most transactions digital.