It could also be easier for the government to regulate a system, minus fake money and one where all transactions are recorded in a single database.
Here are some noteworthy perks to using e-wallets: 1.
The industry will only continue to flourish as demands rise, particularly after the government announced an allocation of RM750 million last year to promote the adoption of e-wallets in Malaysia as part of a series of economic stimulus under the PENJANA recovery plan to revitalise the economy crippled by the COVID-19 pandemic.
All funds will be deposited into a trust account from a licensed financial institution.
You may start using the app.
But the flow chart from below perfectly explains why e-wallets are secured platforms.