MALAYSIA FINTECH MARKET VALUE EXPECTED TO REACH US$100 BLN IN THE NEXT FIVE YEARS
KUALA LUMPUR, Malaysia’s fintech market value is expected to double up to US$100 billion (US$1 = RM4.6720) in the next five years. Fintech Association of Malaysia president Wilson Beh said currently the fintech market value is estimated at US$50 billion. He said the development is heavily anchored and built upon a few key milestones which have been built in the market such as the development of DuitNow and the cross-border payment system. “DuitNow is not only used in big cities such as Kuala Lumpur, Johor Bahru or George Town, for even if you go to smaller towns, cashless has become