Propelled by the country’s central banks desire for a cashless society in the next few years, Malaysians are witnessing an acceleration by large corporation and start-ups moving into the fintech space. Digi the brash innovative telco which currently holds the largest mobile subscriber base is introducing its own mobile ewallet, vCash

In partnership with Valyou the Telenor acquired mobile payment provider, Digi will be have the service  available for its customer base who can use the application to make purchases, make payment  with an embedded QR code. Available in both Google Play Store and App Store, Vcash also enables funds transfers between users and also to non-vcash users, users can use the app for cash deposits and withdrawals and purchase of items from the in-app store. Both consumers and businesses can use the service which offers multiple benefits and removes hassles of opening bank accounts and approval process. Furthermore there is no transaction fees for using any of these features.

Acknowledging that merchants are critical for users to start using the app, Digi has over 500 vendors already on board and will add 1500 more by year end. There is currently more than RM85.5 billion cash in circulation, and a digital services like ewallets aspires to convert cash transactions to digital.