Driving Malaysia’s Retail Digital Transformation
In support of Malaysia’s growing digital economy, nearly 5,000 local traders have registered under the Retail Sector Digitisation Initiative (ReDI) between January and September 2023. The initiative, driven by the Ministry of Domestic Trade and Cost of Living (KPDN), is designed to accelerate cashless adoption and empower small retailers to participate in the digital payment ecosystem.
Since its launch in 2021, ReDI has successfully onboarded over 13,000 traders nationwide, marking a major step in Malaysia’s journey toward a cashless retail environment that benefits both urban and rural entrepreneurs.
Supporting Traders in the Digital Era
The ReDI initiative enables traders and small businesses to adopt QR-based and e-wallet payment systems, reducing dependence on cash transactions while improving transparency and efficiency. This move complements Malaysia’s MyDIGITAL blueprint and the 12th Malaysia Plan (12MP), which focus on strengthening digital inclusivity and expanding access to financial technology.
The government also plans to extend the program with ReDI Plus and ReDI Referral, offering enhanced support and promotional tools for participating traders. These expansions aim to encourage more micro and small enterprises to adopt contactless payment systems, improving competitiveness and customer convenience.
Why It Matters for Businesses
The rapid adoption of digital payments among traders signals a shift toward a cashless retail economy. For technology providers and payment solution companies, this opens new opportunities to offer smart terminals, vending solutions, and QR-enabled systems that align with government digitalisation goals.
By integrating DuitNow QR, FPX, and e-wallet compatibility, businesses can meet rising demand for secure, fast, and reliable cashless transactions — especially as consumers move away from traditional cash payments.
This trend also complements Malaysia’s broader digital transformation efforts, from Cashless Boleh 5.0 to public-sector e-payment campaigns, creating a unified ecosystem where both private and government sectors embrace digital commerce.
Key Takeaways
4,898 traders registered under ReDI in 2023 (Jan–Sept).
13,377 traders onboarded nationwide since program launch in 2021.
ReDI supports MyDIGITAL and 12th Malaysia Plan goals.
New programs ReDI Plus and ReDI Referral to expand support.
Encourages use of QR code, e-wallet, and contactless payments.
Reference:
Nearly 5,000 Malaysian Traders Registered Under Retail Sector Digitisation Initiative This Year
Malay Mail / Bernama, November 2023.
Source document: Nearly 5000 Malaysian Traders Registered Under ReDI
Published by: Malay Mail official release