McDonald's Malaysia Expects Cashless Payments To Grow 13-14 Per Cent

SHAH ALAM (Selangor, Malaysia), Aug 11 (Bernama) -- McDonald's Malaysia expects its cashless payment option, which is currently available at about 140 restaurants nationwide, to increase 13-14 per cent in years to come, its Managing Director, Azmir Jaafar said. He said at present, only five to six per cent of fast food transactions at McDonald's restaurants were done through credit and debit card and the new payment option is expected to be rolled out to 200 restaurants by September. "By deploying the cashless payment system at all McDonald's restaurants nationwide, we aim to do our part in taking Malaysia one step closer towards becoming a cashless society. "In the last seven to eight months, close to 140 stores had converted to cashless (payments)," he told a press conference to announce a strategic partnership between McDonald's Malaysia and Maybank on the cashless payment option here, Wednesday. Azmir said McDonald's Malaysia has partnered with Maybank to offer the cashless payment option at its restaurants nationwide in line with Bank Negara Malaysia's (Malaysia's Central Bank) vision to transform Malaysia into a cashless society by 2020. He said McDonald's Malaysia started to roll out the cashless payment system in January this year and aimed to complete the exercise at all of its restaurants by year-end. Currently, there is no minimum amount needed for users to use their cards and customers will receive a free Frozen Coke or Sundae Cone ice cream if they were to pay any amount above RM10 with their credit or debit cards for a limited time, he added. "We serve about 10 million customers a month and by participating in the cashless system, we are supporting Bank Negara's vision to transform Malaysia into a cashless society by 2020," he added. Meanwhile, Maybank Group President and Chief Executive Officer Abdul Farid Alias said as a leader in electronic banking and the card business, Maybank is well-positioned to offer McDonald's a convenient and secure digital platform to enhance customer experience and shorten payment processing time at its restaurants. --BERNAMA