KUALA LUMPUR: Malaysians prefer e-wallets and debit cards as payment methods amid the Covid-19 pandemic, said Netizen eXperience.
Netizen eXperience is a full-fledged user experience (UX) consulting firm which provides user research, analytics and technology solutions for digital transformation.
Netizen eXperience user experience consultant Alvin Chai said a recent survey conducted by the company had found an encouraging number of Malaysians moving towards e-wallet and debit card transactions, especially since the enforcement of the Movement Control Orders (MCO).
From a survey on more than 1,000 Malaysians between the age of 18 and over 65, he said most people still preferred cash transactions especially before the enforcement of MCO
"The key factors that contribute to this are Malaysians' concerns over security and privacy issues, and the possibility to overspend with cashless payment methods," said Chai.
Netizen eXperience said the UX and user interface would need more focus on alleviating these concerns.
"Post MCOs, e-wallets and debit cards are becoming fast favourites and the main reasons are because of contactless payments and convenience," Chai said, adding that the shift was a step in the right direction with the buzz of digital banking licensing in Malaysia.
According to the survey, the use of cashless payment methods was more prevalent in those aged between 18 and 54, compared to those aged 55 and above.
"We see Malaysia's e-wallet players leaning towards digital banking but the more traditional financial institutions – banks and insurance firms – are a little hesitant.," said Chai.
He said the company wanted to improve UX by building user-centric products through innovative tools and emphasising human-centred approaches.
The firm was set up in 2011 and specialises in all things digital – development of mobile apps, launching digital features for its clients and even building websites.
"We leverage our user research, user testing, UX design, digital analytics and optimisation as well as web development skills to help our clients maintain and even draw customers," Chai said.
Netizen eXperience said it had gained an extensive number of corporate clients, including listed companies.
A majority of them are involved in financial services, the likes of banking and insurance firms, and healthcare.
