Mobile payment deemed not a threat to banks in Malaysia
Low impact: Lee (left) and Wong don’t see mobile payment affecting bank revenue in Malaysia
PETALING JAYA: The increasing popularity of mobile payment due to the high mobile penetration rate is not seen as a material threat to Malaysian banks, according to RAM Ratings.
In an email interview with StarBiz, RAM Ratings co-head of financial institution ratings Wong Yin Ching said such a mode of payment in the country is unlikely to attain the level of ubiquity that it enjoys in China.
This is because of the wider availability of other more established electronic payment methods such as credit and debit cards, she added.
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