PETALING JAYA: Bank Negara has outlined six key measures to be implemented next year to accelerate the pace of migration to e-payments and reduce dependency on cash and cheque usage in Malaysia.

The measures would revolve around the deployment of additional point-of-sale terminals, organisation of awareness campaigns, implementation of national bill payment scheme called JomPay, regular reviews on their payment systems, improvement of customer service and efforts by banking institutions to reduce automated teller machine (ATM) robberies.

According to Bank Negara deputy governor Datuk Muhammad Ibrahim, an additional 50,000 point-of-sale terminals will be deployed next year, targeting in particular lower-tier merchants to promote the acceptance and usage of debit cards.

“We need to intensify efforts to conduct promotional activities to drive the usage of debit cards to reach 89 million transactions in 2015, compared with about 65 million transactions this year,” Muhammad said in his keynote address at the Payment System Forum and Exhibition 2014 yesterday.

“We also need to expand and re-double efforts to raise the level of awareness of basic safety steps to deter payment fraud,” he added, pointing out that more campaigns to promote safe online payment practices should be organised.

Muhammad also stressed that the industry should ensure the timely implementation of JomPAY to enhance the efficiency and convenience of online bill payments by consumers and businesses across the country.

“(Also) banking institutions should conduct regular reviews on the adequacy and robustness of payment system risk management measures and the effectiveness of consumer protection measures,” he said.

Muhammad said the industry should also keep customers informed of dispute resolution procedures, in the event of fraud.

To maintain public confidence and trust, Muhammad said the industry had to step up efforts to reduce cases of ATM robberies.

He said an e-payment incentive fund framework would be implemented on Jan 2 next year, which would coincide with the implementation date of the new cheque processing fee of 50 sen.

He noted that with 45 million debit cards for a population of 30 million, Malaysia was well-positioned to migrate from high dependency on cash usage to the cost-effective debit cards.

“Greater use of debit cards will minimise the country’s retail payments cost and contribute to more savings and efficiency,” he said.