Visa Malaysia and I-Berhad have teamed up to work toward the digitisation of payment systems across i-City, the technology theme park in the outskirts of Shah Alam. This partnership is a significant milestone in the modernisation of electronic payment systems, and is a first in Malaysia.
This strategic partnership agreement emphasises Visa’s support of i-City’s digitisation initiative in the new payment solutions project. All of this is in line with Malaysia’s National e-Commerce Strategic Roadmap. The initiation of this new digitization experience in Leisure Park @ i-City theme park also aims to improve international tourist services, a goal that is in line with the Ministry of Tourism and Culture’s target of having 36 million tourist arrivals by 2020.
i-City’s new digital vision was licensed by the Malaysian Multimedia and Communications Commission to provide connectivity services to all its residents in i-City. Its partnership with Visa is part of its Smart City plan.
i-City began its Smart City initiative more than 10 years ago when it became Malaysia’s first developer to invest in last mile infrastructure, in order to provide high-speed broadband to the development. i-City was also the first development in Malaysia to provide fibre-optics to homes as part of its utility infrastructure.
The Visa-i-City Smart City cashless payment project – where payment can be done via the “i-City Mobile” app – will take place in stages, starting off with Visa contactless payment at the carpark and theme park ticketing at Leisure Park@i-City. The ability to make payments through the app for the Central i-City shopping centre, retail outlets and Best Western i-City Hotel are set to be launched sometime next year.
Dato Eu Hong Chew, Deputy Chairman of I-Berhad, said that the partnership with Visa would add value and improve the quality of the services i-City had to offer. This is all in step with their vision towards nurturing a smart community in the development.
Ng Kong Boon, Visa Country Manager for Malaysia, said that the company was excited to start this journey with i-City. He mentioned how contactless payments had grown significantly in Malaysia, with three million Visa contactless transactions a month. The new digitised payment system at i-City properties will probably encourage the adoption of electronic payments in the country, leading to a more cashless society.