Business

E-wallet use to become mandatory in market traders’ licence renewal

Move under Retail Digitalisation Initiative to spark nationwide acceptance of electronic payments

Updated 5 years ago · Published on 07 Apr 2021 1:30PM

E-wallet use to become mandatory in market traders’ licence renewal
The Domestic Trade and Consumer Affairs Ministry is targeting 12,844 traders at 306 farmers’ markets and public markets in the country to adopt e-wallet facilities. – Bernama pic, April 7, 2021

PUTRAJAYA – The use of e-wallet payment methods will become one of the requirements for licence renewals by traders at farmers’ markets and public markets here soon, said Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid.

The Putrajaya Corporation will impose the condition in the near future to encourage traders to switch to digitalisation, he said.

According to him, this is part of the Retail Digitalisation Initiative (ReDI) framework being implemented in two phases, with the first phase involving Putrajaya and the second phase going nationwide in May.

ReDI is a collaboration between the ministry and several government and private agencies, including Maybank and Touch 'n Go. 

At a press conference after launching ReDI at Pasar Tani Precinct 2 here yesterday, Rosol said the ministry’s survey found that the level of e-wallet acceptance among traders at farmers’ markets and public markets has reached 50% in Putrajaya.

“We believe with ‘onboarding’ efforts, Putrajaya’s (e-wallet acceptance) will reach more than 90% by the end of this year,” he said.

Rosol said the ministry is targeting 12,844 traders at 306 farmers’ markets and public markets nationwide to use e-wallet facilities, in line with the new digitalisation era in business.

He welcomed strategic cooperation between the ministry, Federal Agricultural Marketing Authority and local authorities to help realise this objective.

“This year’s target is to ensure 100 farmers’ markets and public markets provide e-wallet facilities,” he added. – Bernama, April 6, 2021

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