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Malaysians prefer electronic payment to cash, survey shows

In Asia where cash is traditionally king, a survey shows that consumers now prefer the convenience and safety of electronic payment.

The survey, conducted by Nielsen Online Panels, from July to August last year consists of 3,073 online interviews.

It shows that Malaysian travellers’ point-of-sale spending on their Visa Debit cards abroad grew by 82 percent in 2011 from the previous year, while 18 percent used their cards to access ATMS for cash while out of the country.