APRIL 3 — Much as I think having plenty of options is great, I’m finding the overwhelming amount of digital payment options a mite overwhelming.
From Boost to WeChat, Samsung Pay and now Maybank’s own digital wallet and with the huge variance among outlets supporting these new options, I now understand why even in technologically-advanced Japan the locals prefer cash.
I remember reading a story some time back about a man who was caught up in a natural disaster — he didn’t have much cash on him but all the communication lines were down making digital payments unavailable.
His digital wallets were all rendered useless and he was left to figure out other options to pay for food and water.
Even bill payment can be a headache — I used to be able to pay all my bills with transfers from my primary account but now some bills can only be paid via JomPay. Having to pay most of my bills with one account and my other bills via another means is just so annoying.
In the end, I chose to just pay all my bills with JomPay but what if in future some of my payees decide to move to another digital platform? Must I too switch? It’s all really quite annoying.
The thing is I’ve been raised with computers since I was seven and am more technologically literate than most, yet I still find myself flummoxed with the constant changing digital landscape.
If I find it tiresome, imagine people who are less digitally literate. Even the experience at various ATMs in the country differs to the point I see some people haplessly trying to figure out the nuances of just pressing out money.
Have so far resisted DuitNow despite my banks trying to get me to register. Look, the way I usually transfer funds works for me and I don’t need yet another solution I never asked for.
As time goes by, I find myself preferring to stick to those old mainstays: Cash and cards. Cards are often a safer bet overseas despite bank fees as, if they’re stolen, you can have charges reversed.
Of course I don’t think we should try to force a “one payment provider for everyone” solution. I would rather banks consolidate instead of trying to market their own separate wallets, unless they can ensure wide availability.
In an age where consumers are easily overwhelmed by the pace of digital evolution, I wish there was more effort taken to just make it easier. Complexity shouldn’t be desirable or a feature.
Much as Bank Negara wants to encourage consumers to embrace mobile payment platforms, I would like better incentives than point collection and free drinks.
Seriously, Malaysia, you can be a whole lot more creative than this. And no, please don’t try to sell me on another wallet.
* This is the personal opinion of the columnist.
