SHAH ALAM, Oct 05 — With the growing adoption of cashless payment, there should be clearer regulations to prevent businesses and service providers from removing cash as a payment option, said the Federation of Malaysian Consumers Association (FOMCA).
“The convenience of technology should not cause traders or service providers to determine only one payment method, particularly digital payments, to the extent that consumers who want or need to use cash no longer have a choice,” FOMCA told Media Selangor.
“The development of digital payments, including the use of QR codes, is a positive development as it provides convenience, speeds up transactions, and supports the development of the country’s digital economy.
“However, the development of digital payments should not cause consumers to lose the choice to use cash, especially when ringgit notes and coins issued by Bank Negara Malaysia are still legal tender in Malaysia,” it added.
FOMCA urged the government and authorities to consider regulations ensuring reasonable payment alternatives for face-to-face transactions, particularly for essential services and public facilities.
“If the digital system cannot be used due to technical factors or access disruptions, consumers should still have the alternative of making payments in cash.
“The principle is simple; digitalisation should add to consumers’ choices, not eliminate choices,” the group stressed.
FOMCA also said it has received complaints about restrictions on cash payments, including at food courts and public transport ticket counters, with most complaints coming from senior citizens in urban areas.
It however added that it isn’t just those less tech-savvy who are sidelined with digital transactions, as internet, banking system or app disruptions could prevent most consumers from paying.
“In such circumstances, even consumers who are skilled in using technology are unable to make payments despite having the ability and sufficient money to obtain a particular good or service,” FOMCA said.
