Malaysia ranks second in the world for QR code payments, with 61.5% adoption, just behind China. The growth is attributed to ease of use, fintech innovations like DuitNow QR, and government initiatives. Small businesses drive the adoption, although there is a call for balance between cash and digital transactions.

In Malaysia, the adoption of QR code payments has seen tremendous growth, positioning the country second globally, with a rate of 61.5%, trailing only behind China at 67.4%. This trend underscores a significant rise in cashless transactions, enabling consumers to conduct payments seamlessly through their mobile devices, whether shopping at malls or at local markets.

In summary, Malaysia has made remarkable strides in QR code payments, largely due to convenience, technological innovations, and government support. However, while a cashless future appears promising, there remains a need to accommodate those who still prefer traditional payment methods. This balance will ensure inclusivity as Malaysia continues to enhance its digital payment landscape.

Original Source: fintechnews.my