Kuala Lumpur, 21 October 2022 – As technological innovations continue to change the way we live, the use of digital payment gateways has grown exponentially in the last ten years. In light of the pandemic, the need for cashless options was of the utmost and as such came the influx of digital payment services.
A Visa Consumer Payment Attitudes 2021 study conducted by MDEC found that 7 out of 10 Malaysians have considered switching to a more cashless approach, with over 7.2 billion transactions being made via electronic payment (e-payment) channels in Malaysia just last year.
At the forefront of this change stands Adam Dahlan, a modern business-guru who has helped cultivate and develop a fair share of cashless-based solutions. Over the course of his 20-year career, Adam has not only seen the growth of the digital payment but has played a part in building such ecosystems first-hand.
Having held positions of leadership in this industry, Adam has been a cardinal part of numerous fintech projects covering broad and in-depth lengths such as peer-to-peer cross border payment service, transportation payment enablement to even an Islamic payment solution and equity crowd funding.
Today, he’s on a mission to push the boundaries of digital payment solutions as the CEO of RediPay Bhd, a digital payment solutions provider that seeks to bring efficient and cost-effective cashless payment solutions for businesses, and expanded it’s ecosystem from just a simple digital payment.
RediPay – originally a spinoff from an idea to be a payment system, to now being rebranded and having obtained MSC status – RediPay is ready to implement plans to become a significant player in the local cashless payment arena and globally expanding its services in strategic destinations.
As the CEO of RediPay, Adam oversees overall business developments, operations, product development and technology buildup of their digital payment solutions, while at the same time partnerships.
Having led several successful digital payment solution frameworks prior to RediPay, Adam has always deemed maturity and knowledge as the main driving force when it comes to the type of leader he aims to be, extending this same belief to his team as well.
“The best lesson I’ve learnt, which is something you won’t find in any book, was how to be mature. I think maturity is an especially essential element in any leader and I’ve adopted that in how I manage RediPay.”
Since its establishment, RediPay has emerged as more than just a simple online API payment facilitation. Through Adam’s leadership, the start-up is now looking towards becoming a full-fledged payment solutions provider. It has also since leveraged on a point-of-sales (POS) system in favour of a more simplified payment method.
Adam has also made it a point to conduct regular virtual discussions with their customers to get first-hand feedback on the RediPay experience and how they can better serve them. One of the key tools the company has incorporated to complement this is a payment tool that leverages on social media platforms, without the hassle of switching between different websites to see their transaction go through.
But that’s not the only venture he has up his sleeve.
Riding on the accomplishments of RediPay, Adam has expanded the ‘Redi’ name to include other products and services for a diverse market, expanding into a larger footprint and a start to building its own brand eco-system–Redi2infaq.com, Redi2stay.com, RediCar and many more.
Their latest product Redi2Stay, an up-and-coming online accommodation rental platform, is set to make waves in the coming year.
The team has also expanded their reach to include philanthropic affiliations with the introduction of Redi2Infaq, a platform that aims to promote just causes by providing a space for charitable programs to garner donations from the public.
According to Bank Negara Malaysia’s (BNM) most recent data, the average number of digital payment transactions per capita has seen an increase from 49 in 2011 to over 221 transactions per capita in 2021, more than quadrupling in the last ten years.
Despite the introduction of new digital payment solutions, Adam believes that the market is far from being spoiled for choice and that this will also benefit entrepreneurs to move towards a more digital landscape in their business services.
“Even though we have a lot of payment gateways out there today the market is in no danger of being saturated. As much as national banks try to introduce innovative approaches in their regime, it is all in the effort of supporting growth.”
The company has also been actively involved in pushing for the acceptance of a digital currency regime in Asia—starting with the incorporation of fiat-to-crypto and crypto-to-fiat solutions and the acceptance of agnostic coins in the system.
“We have also worked with our partners for other solutions, and this will see the acceptance and trail of coins very clearly in our system.”
Looking towards the future, Adam has his sights on new and innovative endeavours that could prove to elevate RediPay and its sister brands in the market and is confident in its outreach.