Digital Campus 2.0: UiTM & APU top cashless rankings

Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and central financial infrastructure provider, has announced the winners of its Digital Campus 2.0 campaign, aimed at fostering a cashless society.

UiTM Cawangan Terengganu (Public Higher Education Institution; IPTA) and Asia Pacific University of Technology & Innovation (Private Higher Education Institution; IPTS) emerged as the champions for achieving the highest cashless transactions per capita in 2023.

Digital Campus 2.0

Digital Campus 2.0, a student engagement initiative, ran from October to December 2023 with 28 participating universities from public and private higher education institutions.

The initiative encouraged the adoption of digital payments across university campuses, requiring Student Bodies to pitch campaign proposals on cultivating digital payment adoption within their campus ecosystems.

During the prize-giving ceremony held at Le Meridien, Putrajaya, PayNet also launched Digital Campus 3.0, marking the third iteration of the initiative.

The final pitch involved Student Bodies from eight universities nationwide, and the Student Bodies of UiTM Cawangan Terengganu and Asia Pacific University were recognised as the Best Pitch for their respective categories.

Firdaus Ghani, Senior Director of Government Digitalisation Division at PayNet, expressed optimism about the youth contributing to the digital transformation of the education sector, stating: “It’s very encouraging to see these initiatives driven by university student bodies and how they spearhead this transition to cashless transactions within our educational institutions.”

Future of Malaysia’s digital economy

Malaysia’s digital economy aims to rank among the world’s top 30 economies in the next decade, and PayNet plays a pivotal role in driving this agenda.

Farhan Ahmad, Group Chief Executive Officer of PayNet, emphasized the importance of championing a cashless campus, not only for adapting to a cashless society but also addressing safety concerns on campuses.

“Our campaign is dedicated to empowering students to be at the forefront of this transformative, national cashless agenda,” said Farhan Ahmad.

With over 405,000 students from participating institutions, Digital Campus 2.0 generated 11.8 million online and over-the-counter (OTC) cashless transactions from January to December 2023. This achievement aligns with Bank Negara Malaysia’s Financial Sector Blueprint (FSBP) 2022-2026, aiming to accelerate e-payment adoption and promote a digital payments culture.

PayNet’s Digital Campus campaign, launched in 2019, has significantly increased the adoption of cashless transactions in Malaysia’s education sector. The initiative has seen a tenfold increase in participating universities and the addition of DuitNow QR adoption among students.

Working collaboratively with stakeholders and government sectors, PayNet envisions empowering Malaysia’s digital ecosystem through inclusive, accessible, and efficient payment systems.

As digital transformation accelerates across the education sector, PayNet aspires to witness increased campus participation in Malaysia’s journey towards a cashless society, reaffirming its commitment to an efficient cashless future.