Payment Networks Malaysia Sdn Bhd (PayNet), the national payments network and central financial infrastructure provider that handles the DuitNow QR network, crowned UiTM Cawangan Terengganu and Asia Pacific University of Technology & Innovation as the champions of the Digital Campus 2.0 campaign. The two universities saw the highest cashless transactions per capita among the participating universities during the campaign period in 2023.
As a quick recap, Digital Campus 2.0 is a student engagement initiative from PayNet that encourages the adoption of digital payments across university campuses. It was held from October 2022 to December 2023, with 28 participating universities across Malaysia, covering both public and private universities.
Student governing bodies from the universities were required to pitch a campaign proposal to PayNet on how to cultivate digital payment adoption within their campus ecosystems. The top eight universities – five public and three private universities – participated in the final pitch at an event in Putrajaya.
During the campaign period for Digital Campus 2.0, 11.8 million transactions were made by students from the 28 institutions of higher learning, where the majority (about 80%) of the transactions were made for over-the-counter (OTC) cashless transactions which included purchasing food, drinks and other daily necessities. The transactions were made by over 405,000 students, with an average of 29 transactions made per person.
“It’s very encouraging to see these initiatives driven by university student bodies and how they spearhead this transition to cashless transactions within our educational institutions. PayNet is proud to empower future leaders to work towards a safe and reliable cashless ecosystem. We aspire for students to continue practising digital payment habits outside their campuses in our journey towards a cashless nation,” said PayNet’s Senior Director, Government Digitalisation Division, Firdaus Ghani.
At the event, PayNet also launched the third iteration of the campaign called Digital Campaign 3.0, where the company will again work with universities to champion cashless transactions on campus. This time, however, PayNet is increasing the amount of cash prizes to be given out to winning universities – from RM700,000 to RM 1,500,000. The company is also targeting 50% more transactions made by students during the period, aimed to cultivate the cashless culture in the daily lives of the students.
“By championing a cashless campus, we’re not only encouraging students to adapt to a cashless society but also addressing safety concerns. The absence of physical cash significantly reduces the risks of theft, a prevalent issue on many college campuses, leading to safer learning environments. Our campaign is dedicated to empowering students to be at the forefront of this transformative, national cashless agenda,” said Farhan Ahmad, Group Chief Executive Officer of PayNet.
