Malaysia’s transition to a cashless society reached a major milestone today, with Bank Negara Malaysia (BNM) reporting a 25% jump in e-payment transactions for the year 2025. Malaysians made an average of 538 digital payments each, totaling a staggering 18.4 billion transactions. The surge is largely attributed to the widespread adoption of DuitNow QR and contactless payment methods among small-and-medium enterprises (SMEs) and everyday consumers. 

To further protect consumers in this rapidly expanding digital landscape, BNM has backed the establishment of the new Consumer Credit Commission (CCC). This commission will specifically oversee the Buy Now, Pay Later (BNPL) sector, which has seen rapid growth and rising debt levels among younger users. The regulator aims to ensure that credit providers adhere to fair practices and that borrowers are not lured into unsustainable debt cycles. 

Additionally, BNM processed 1.7 billion banknotes in 2025, with 86% now handled via its Automated Cash Centre, highlighting the central bank's shift toward high-tech operational efficiency. While cash usage remains stable for specific segments, the overwhelming trend toward digital wallets is expected to continue. Financial institutions are now being urged to prioritize cyber risk management, which remains the top operational concern for the banking sector in 2026.