Penang has now stated that they have reached the standards set by the Ministry of Finance and PayNet - that is, the use of more than 95% cashless transactions, allowing Penang to be recognized as a cashless state.
From January 1 to May 31, 2024, the Penang state government and various agencies under it showed that 95.31% of transactions that took place were non-cash. This includes using digital wallets, QR codes, online banking, as well as using credit or debit card terminals.
Penang also aims to reach a consumption rate of up to 97% by 2030.
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CYBER LIFE