E Wallet Statistics Malaysia 2020

A rise in the number of e wallet related scams in 2020 caused boost to discontinue a feature that allowed users to withdraw their credit to a bank account.

E wallet statistics malaysia 2020. This took effect in may 2020 and had the unfortunate effect of removing one of boost s most unique features. By the way the rmco epenjana incentive isn t the first e wallet initiative to be introduced as back in january 2020 the previous administration had also set aside rm450 million to encourage the adoption of e wallets in malaysia. The best ewallet in malaysia for 2020 survey was held for a period of slightly less than a month with the total number of respondents amounting to 245 n 245. Below we ve summarised the juiciest findings from our best ewallet in malaysia for 2020 survey.

According to a survey done by pwc malaysia in 2018 only 22 of the respondents were e wallet users with only 9 of respondents expecting to use their e wallets more than 6 times a week. Malaysia leads other countries in south east asia in the usage of mobile digital wallets e wallet at 40 ahead of the philippines 36 thailand 27 and singapore 26 according to a mastercard impact study 2020 as the malaysia market edition results showed covid 19 that led to global movement restrictions had driven momentum in south east asia towards the digital economy by. List of ewallet in malaysia 2020. Although the e wallet uptake is still low in the country food truck operators and small traders are hoping that more malaysians will gradually shift towards cashless payment.

Grabpay one of malaysia s leading e wallet providers offers you the convenience of paying for everyday services like bills groceries food rides services prepaid reloads and more. The reluctance of consumers to part with their credit and debit cards paired with the fragmented e wallet market contributed heavily to the slow adoption rate. Welcome to the fast link of the department of statistics malaysia official portal selamat datang ke pautan pintas portal rasmi jabatan perangkaan malaysia. Commenting on the outlook of the e wallet sector for year 2020 and beyond ceo of tng digital ignatius ong said bank negara released its financial sector blueprint 2011 2020 which charts the direction of the financial system over the next ten years to increase the number of e payment transactions per capita from 44 transactions to 200 transactions and to reduce cheques by more than half.

Read on to find out what fellow malaysians had to say.