Malaysia's universities just set a new record with 24 MILLION cashless payments

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If you think Malaysian students are just busy cramming for exams and surviving on Maggi, think again. They’ve also been leading the charge in making their campuses fully cashless. Thanks to PayNet Digital Campus 3.0 (PDC3.0), a whopping 24 million cashless transactions were recorded across 30 higher education institutions in Malaysia, setting a new record for digital adoption among students.

The Universities that went full cashless (And won BIG!)

In the Public University (UA) category, UiTM Cawangan Perak came out on top with 66 transactions per capita (that’s A LOT of cashless payments per student). UiTM Cawangan Sabah and UiTM Cawangan Johor took second and third place, proving that UiTM students are all about that digital life.

Private universities weren’t far behind, with Universiti Teknologi PETRONAS winning the IPTS category, followed by Asia Pacific University.

And because student councils were the masterminds behind these digital payment initiatives, they got their own awards too. UiTM Cawangan Johor’s student council led the UA category, while Universiti Teknologi PETRONAS took the IPTS top spot.

6 Universities get Special Recognition Awards

Six universities were given Special Recognition Awards for crossing the one million transaction mark:

Universiti Putra Malaysia (UPM)
Universiti Malaya (UM)
Universiti Sultan Zainal Abidin (UniSZA)
Universiti Malaysia Sabah (UMS)
Universiti Kebangsaan Malaysia (UKM)
Universiti Teknologi Malaysia (UTM)

Student Council Category - UA UiTM Cawangan Johor cashless payments awards

That’s a lot of tap-and-go action! Proving students are embracing a cash-free campus life.

“Empowering students with digital financial skills ensures that all learners, regardless of background, can participate in and benefit from Malaysia’s evolving digital economy. At the same time, we are creating safer, more efficient learning environments by reducing reliance on cash transactions.”

Farhan Ahmad, Group Chief Executive Officer of PayNet

With the rise of e-wallets and QR payments, having cash on hand is becoming a thing of the past. And beyond that, going cashless makes campuses safer (less cash = less crime) and streamlines transactions. Plus, students get a head start in financial literacy by navigating a world where everything is paid through apps.

Shark Tank-style competition and PDC4.0

One of the coolest parts of PDC3.0 was its Shark Tank-style competition, where student councils pitched their digital payment campaigns to secure funding. The best ideas were put into action, and the results were impressive—one institution alone recorded 1.5 million transactions, while the cost per transaction was driven down to just RM0.05.

“By fostering a cashless-first culture, we are not only modernising university ecosystems but also equipping students with essential financial literacy and digital skills that will prepare them for the future economy”
YBrs. Datuk Prof. Dr. Azlinda Azman, Director General of Higher Education, Ministry of Higher Education

PDC3.0’s success means only one thing—a bigger, better version is coming. PayNet has already announced PDC4.0, which will keep the winning formula but is open to even more universities (as long as they have over 3,000 students).

“The launch of PayNet Digital Campus 4.0 marks the next phase in accelerating digital transformation within Malaysia’s education sector. By equipping universities with the tools and support to drive cashless adoption, we are not only modernising campus transactions but also shaping a generation of digitally empowered leaders”
Firdaus Ghani, PayNet’s Senior Director, Government Digitalisation Division

So, students, if you’re still carrying cash around—why ah? It’s time to go digital!