Vcash, the Malaysian cashless digital wallet solution got a thorough test drive at World Urban Forum 2018 that will be held at the Kuala Lumpur Convention Centre from 8 to 13 February.
Launched last year, vcash is a means to pay and store cash on smartphones for both iOS and Android platforms that is spearheaded by Digi in collaboration with Valyou Sdn Bhd, the fintech subsidiary of the Telenor Group. At World Urban Forum 2018, delegates got to experience vcash and how it made life easier with cashless transactions by field testing it at a number of concessionaires offering food and beverages onsite.
All they had to do was to download the app for free, scan a merchant’s QR code and then key in a payment amount before authorising the transaction via a PIN number or a fingerprint. To encourage delegates to try vcash, they offered an RM6 discount code.
It’s not only beneficial for users as it saves on having to tote around a jingling bunch of loose change but for merchants too. A cashless environment can help merchants minimise the risks of storing cash and payment bottlenecks while also minimising costs as vcash doesn’t require special hardware to put into service. While Malaysia is miles away from China’s cashless society, it’s an interesting step forward with what vcash is offering. For more details on vcash swing by www.vcash.my