Since its inception in November 2017, S Pay Global – formerly known as Sarawak Pay – has become a popular e-wallet app among Sarawakians.
As of January 2022, there are nearly 600,000 registered users and over 85,000 merchants utilising the app across Sarawak, generating a total value of a whopping RM1.8 billion in transactions.
Sarawak Multimedia Authority (SMA) General Manager Dr. Zaidi Razak attributed the increase in the number of users to the COVID-19 pandemic – at a time where the public and businesses have become more comfortable with cashless transactions.
“Additionally, through the S Pay Global Solution, (the Sarawak Government) has been able to channel the financial aid, Bantuan Khas Sarawakku Sayang (BKSS) to eligible Sarawakians during the pandemic,” he said.
The Sarawak Government through SMA launched S Pay Global to digitise and drive Sarawak’s economy, as well as encourage the adoption of cashless payments among Sarawakians.
It is licenced by Bank Negara Malaysia and serves as a one-stop fintech platform that offers the technology and business tools for secure, fast, and convenient e-wallet and digital payment transactions.
The name change from Sarawak Pay to S Pay Global followed the announcement by Premier, YAB Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg in March 2021 after Sarawak Pay’s integration with international payment platform UnionPay.
This means that S Pay Global users can make payment overseas wherever the UnionPay QR Code is accepted via the UnionPay Virtual Card on the e-wallet app.
Features of S Pay Global
Those who use the e-wallet app will be aware of its various services, including keeping their cash digitally; topping-up through online banking; and transferring funds.
In essence, users can purchase items with S Pay Global and settle their utility and local council bills through their mobile phone anytime, anywhere. All they need to do is scan and pay via the QR code from participating merchants or on their bills.
And if they include their bills in their bill subscription list on the app, they can receive reminders to pay them with the ‘My Subscribed Bill’ push notification.
S Pay Global also features Instant Cashback Rewards, where users can earn cashback by shaking their phone or tapping the ‘Shake for Reward’ button on the app upon payment.
As long as they spend with the app, users can gain cashback with any amount of spending, and enjoy it any time in the future as it has no expiry date.
Some features that users can take advantage of can be found in the ‘Lifestyle’ segment, where they are able to buy and renew insurance; pay off study loans; order food; make donations; pay for on-street parking; and more.
Others that are available include bill splitting among S Pay Global users; discount vouchers within Loyalty Rewards; convenient tracking of transaction history; and viewing of merchant listing.
Meanwhile, merchants who adopt S Pay Global as a payment method can receive and get notified on the exact amount of payment from their customers easily and efficiently.
They can also eliminate overhead costs incurred from handling cash, cards, and cheque payment; ensure the safety and security of their finances with customer payment transferred directly to their bank account; and get advertised through S Pay Global’s marketing channel.
Beyond simplifying the process of receiving and making payments, S Pay Global is implemented in hopes of serving the underserved financially, and reducing the socio-economic divide between the urban and rural population.
In fact, to ensure the inclusion of the rural people, the e-wallet app, in collaboration with Bank Simpanan Nasional (BSN), facilitates online money transfer and top-up through BSN authorised agents (accounting for 236 agents as of January 2022) in places where banking facilities such as automated teller machines (ATMs) are not accessible.
Services like these empower users and merchants from rural and urban areas to participate in the digital payment platform, thereby boosting their competitiveness, and becoming part of the global digital economy.