Visa has on Wednesday announced the launch of Google Wallet for Visa cardholders on both Android and WearOS devices in Malaysia.

Visa said in a statement that its cardholders from Hong Leong Bank (credit) and Public Bank (credit and debit cards) can now make fast and secure purchases in stores, online, and in apps, and store their Visa cards within Google Wallet.

Cardholders of HSBC (credit) and HSBC Amanah (credit) will also be able to add their cards to Google Wallet in the coming months.

According to the Visa 2021 Consumer Payment Attitudes report, usage of mobile contactless payment solutions has increased for more than half (60 percent) of Malaysian consumers, citing safety (58 percent) and convenience (53 percent) as the top drivers for usage in comparison to carrying cash, because of the pandemic.

In 2021, Visa found that 70 percent of all transactions were contactless, highlighting the rising interest and awareness among Malaysians.

Ng Kong Boon (KB), Country Manager for Visa Malaysia said the impact COVID-19 had on the mobile payment landscape saw shifts in preference for digital payments, with more Malaysians opting for safer and more convenient payment solutions and having an overall positive attitude towards new payment trends.

“Mobile devices are a key part of consumers’ day-to-day lives, and the launch of Google Wallet in Malaysia will enable more Visa cardholders to make mobile payments in a country where contactless payments are extremely well-received,” he said.

According to him, in Malaysia today, more than seven in 10 Visa transactions are contactless payments and the firm is also rolling out new contactless acceptance in the country.

“The introduction of Google Wallet will enable more Visa cardholders to make seamless and secure payments both online and face-to-face, propelling the country into becoming a cashless society,” he added.

Cited the e-Conomy SEA 2022 report, Google Malaysia Managing Director Marc Woo said digital payments are gaining popularity and are expected to hit almost $200 billion in gross transaction value in Malaysia by 2025.

“With millions of Malaysians now using their phones everyday to make payment, Google is excited to bring Google Wallet to Malaysia,” he said.

With Google Wallet, he said Malaysians can tap to pay in stores or checkout seamlessly online.

“They can also easily access their boarding passes when they jet off for their year end holidays. Google Wallet helps keep everything protected in one place, no matter where you go,” he added.

Designed to create safe and secure payment experiences, Google Wallet works in tandem to make the consumer payment process safer, with multiple layers of security that is private by design and puts consumers in control of their data.

Google Wallet uses tokens, a temporary alias for actual account numbers that keeps cardholder account information safe and is created when a card is added to Google Pay or the respective banking app.

Consumer data is kept private as the tokenised account number is shared with merchants, instead of the actual account number.

Visa cardholders will also be able to conduct transactions on WearOS devices and all Android devices running Android 5.2 or later and download the Google Wallet app in the Play Store.

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