Mohd Irwan Serigar Abdullah says TaPay is being refined and strengthened via engagement and sourcing of input from the 100,000 strong Cyberjaya collective of businesses, residents, education institutions and students.– The Malaysian Insight file pic, December 7, 2017.

CYBERJAYA aims to be the first cashless city with the launch of Malaysia’s first community-built e-wallet TaPay (Take Action Pay) today, said Treasury Ministry secretary-general, Mohd Irwan Serigar Abdullah.

A pilot project would be conducted with selected outlets within a month, before the online payment platform moves to the Klang Valley, nationwide and Asean.

Irwan said TaPay, is being refined and strengthened via engagement and sourcing of input from the 100,000 strong Cyberjaya collective of businesses, residents, education institutions and students.

“We hope to reduce dependence on cash transactions by 37% within three years.

“This is the change the government seeks in the people and businesses to remain relevant among the fast-moving nations.

“Chinese mobile wallet, Alipay will be another payment option by next year,” said after launching TaPay today.

TaPay is a collaboration among Fullrich Malaysia Sdn Bhd, Cyberview Sdn Bhd and Affin Bank Group.

Irwan, who is also Cyberview Chairman, said this cashless society’s aim was in line with Malaysia’s aspiration to further boost its digital economy initiatives, which would be the new source of growth for its gross domestic product.

“We choose Cyberjaya because this city is equipped with infrastructure and features in line with its smart city roadmap.,” he said.

He said although it would be an uphill task to be on par with Alibaba, it was not impossible for Malaysia to capture the Asean markets.

Asked to comment on popular singer Sheila Majid who lamented the high cost of living and the weak ringgit in a post of Twitter, Irwan said: “People always confuse lifestyle cost and cost of living.

“Basic food items like rice and oil, and basic needs are considered as inflationary cost and the country’s inflation cost is 3.5%.

“If you add the lifestyle cost to cost of living, of course, certain things will be beyond your means. If luxury things are added into our daily expenditure, then this is when people will start to complain,” he said. – Bernama, December 7, 2017.

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As one of the premier cyber cities in the region, more than 700 companies, including over 30 multinational corporations, have chosen Cyberjaya as the preferred location to operate their businesses. With the current 16 established property developers vying to invest more than RM20bil in Cyberjaya by 2016, there will be more than 28,000 residential units with an expected population of 100,000 by then. The opening of Cyberjaya's first neighbourhood mall, D'Pulze Shopping Centre and IOI City Mall Putrajaya will serve as a catalyst to boost Cyberjaya to the next growth tier. Coupled with completion of various residential developments, Cyberjaya will see population expansion soon. Other catalysts would involve the upcoming Cyberjaya City Centre, Xiamen University Malaysia Campus, the Maju Expressway extension through Cyberjaya and the Sungai Buloh-Kajang-Putrajaya MRT 2 extension. If you are seeking investment opportunities, Cyberjaya should be in your checklist. Call 016-7737036 for more information.