Consumers’ Association of Penang (CAP) president Mohideen Abdul Kader said such a policy would require businesses to restructure their operational process to accommodate delayed payment clearances

“This will require adjustments in supply chain management, scheduling and cash flow planning,” he said.

By extension, he said, consumers would have to wait longer for deliveries or face temporary service disruptions while businesses adjust to the new process.

“This can have a negative impact on customer satisfaction and operational efficiency in the short term,” he said, adding that ensuring both consumer protection and business efficiency would be key to the success of this initiative.

Mohideen was responding to Bukit Aman commercial crime investigation department director Ramli Yoosuf’s proposal that financial institutions implement a cooling-off period of up to 72 hours per transaction.

Malay Mail quoted him as saying that banks must take proactive steps to reduce scams facilitated by online transactions

Small and Medium Enterprises Association (Samenta) chairman William Ng said while the measure enables merchants to verify transactions and give banks time to investigate suspicious activities, it could also have unintended consequences.

In any case, he said, cybercriminals will still find ways to beat the system.