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By SHYAFIQ DZULKIFLI PETALING JAYA: More Malaysians are set to swap traditional green money packets for cashless transfers this Aidilfitri amid a growing adoption of e-money payments. Data from Bank Negara shows that the value of e-money transactions during the months of Ramadan and Aidilftri each year has shot up from RM4.08bil in 2021 to RM20.28bil in 2025. E-money refers to payment tools like mobile e-wallets and prepaid accounts that store and move monetary value electronically. The central bank’s latest payment statistics show that total e-money transactions reached RM272.55bil last year, involving 6.37 billion transactions. This marked a 66% jump in value from RM164.09bil recorded in 2024. Fintech company TnG Digital said users of its eWallet platform are increasingly turning to its “Money Packet” feature to send digital duit raya. The company said total Money Packet transaction value during Hari Raya Aidilfitri in 2025 grew by more tha...

By SHYAFIQ DZULKIFLI PETALING JAYA: With online money transfers now a staple of everyday life in Malaysia, e-Duit Raya is set to see its biggest season yet as families embrace digital gifting ahead of Hari Raya Aidilfitri. Data from Bank Negara Malaysia (BNM) reflects the broader rise in digital payments across the country. The central bank’s latest payment statistics show that total e-money transactions reached RM272.55bil last year, involving 6.37 billion transactions. This marked a 66% jump in value from RM164.09bil recorded in 2024. E-money transactions hit a record high in December last year, with 622.4 million transactions valued at RM29.4bil. E-money refers to prepaid payment instruments that store monetary value electronically, including mobile e-wallets, card-based e-money and prepaid accounts. According to BNM’s Annual Report 2024, e-wallets accounted for 64% of total e-money transactions, with the remainder attributed to card-based...