Mastercard Inc is battling it out in the cashless payment space against e-wallet players as consumers now have a lot of options to limit the use of cash in transactions.
Mastercard country manager for Malaysia and Brunei Perry Ong said the company is confident contactless payment via its cards, either debit or credit, will be the preferred system of payment compared to e-wallets due to the broader acceptance of its payment method at merchant sites.
"Why would users want to keep their money in different e-wallets to make a payment when they can simply direct it from one source of fund via their bank?" Ong said at the launch of Mastercard Stay on Beat Contactless Campaign in Kuala Lumpur last Friday.
Get the full scoop at The Malaysian Reserve