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Published 19 February, 2020
WHEN Lance Ong saw the rise of e-payments in Malaysia last year, the chief executive officer of Vechnology Sdn Bhd knew that he too had to keep up with the times.
Thanks to his foresight, the four-year-old start-up company launched its first unified QR, flagship e-wallet vending machine.
The timing was perfect because in Budget 2020, the Federal Government will provide RM30
to e-wallet users aged 18 and above earning less than RM100,000 annually as a one-off measure to stimulate the use of e-wallets.
Ong said he was glad that things were falling into place for his company, adding that the prototype of the machine was ready in August.
“Vending machines don’t just accept cash and coins anymore.
“With a cashless society looming, you don’t need to take your wallet when going out.
“All you need is just your smartphone. Open any QR wallet and our machines will do the rest.
“We have multiple e-wallet partners such as GrabPay, Boost, WeChat Pay, Alipay, Touch n’ Go Digital, Maybank QR and Union Pay, ” he said during a ceremony to unveil the machine at his office in Hexagon Tech Park in Jalan Gurdwara, Penang.
From 2015, Ong and co-founder Evelyn Foo started to import snack vending machines from China and supplied them to Malaysian universities.
Today, their machines can be found in hotels, airports, malls, hospitals, factories, laundromats, leisure parks, and public transport hubs.
The vending machines dispense medical supplies, magazines, snacks, pet food and cosmetics.
“We have since established a new manufacturing facility and invested heavily in research and development with the goal to revolutionise the regional vending machine industry.
“We plan to expand across South-East Asia, focusing on smart vending solutions for retail and industrial businesses.
“We are proud to be the first original equipment manufacturer of vending machines to provide total vending solutions in South-East Asia, ” he said.