According to a survey by Rakuten Insight on e-payment usage in October 2022, about 93 percent of Malaysian respondents stated that they have made a transaction using e-payment methods, while six percent of the respondents have not. In the same survey, the majority of e-payment users indicated convenience as a leading reason for making e-payment transactions.

Electronic Payments: Instruments: Value: Charge card data was reported at 10.978 MYR bn in 2017. This records an increase from the previous number of 9.749 MYR bn for 2016. Electronic Payments: Instruments: Value: Charge card data is updated yearly, averaging 5.388 MYR bn from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 10.978 MYR bn in 2017 and a record low of 2.164 MYR bn in 2005. Electronic Payments: Instruments: Value: Charge card data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

In 2023, Malaysia's per capita electronic payment transactions amounted to more than 902,000 Malaysian ringgit. This showed a slight decrease compared to the transactions value per capita in 2022, which was the highest recorded value at around 927,500 Malaysian ringgit.

Electronic Payments: Systems: Value: Interbank GIRO data was reported at 931.214 MYR bn in 2017. This records an increase from the previous number of 767.630 MYR bn for 2016. Electronic Payments: Systems: Value: Interbank GIRO data is updated yearly, averaging 166.141 MYR bn from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 931.214 MYR bn in 2017 and a record low of 26.309 MYR bn in 2005. Electronic Payments: Systems: Value: Interbank GIRO data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

According to a survey by Rakuten Insight on e-payment usage in October 2022, the majority of female and male e-payment users in Malaysia indicated convenience as a leading reason for making e-payment transactions. In the same survey, 93 percent of respondents had made a transaction using e-payment methods.

Malaysia Electronic Payments: Systems: Value: RENTAS data was reported at 53,749.930 MYR bn in 2017. This records an increase from the previous number of 51,538.775 MYR bn for 2016. Malaysia Electronic Payments: Systems: Value: RENTAS data is updated yearly, averaging 46,169.418 MYR bn from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 53,749.930 MYR bn in 2017 and a record low of 19,314.637 MYR bn in 2005. Malaysia Electronic Payments: Systems: Value: RENTAS data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

Malaysia Electronic Payments: Instruments: Value: E-money data was reported at 0.927 MYR bn in May 2018. This records an increase from the previous number of 0.915 MYR bn for Apr 2018. Malaysia Electronic Payments: Instruments: Value: E-money data is updated monthly, averaging 0.308 MYR bn from Jan 2008 (Median) to May 2018, with 125 observations. The data reached an all-time high of 0.927 MYR bn in May 2018 and a record low of 0.118 MYR bn in Jan 2008. Malaysia Electronic Payments: Instruments: Value: E-money data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA060: Payment System Statisitcs.

Malaysia Electronic Payments: Channels: Value: Mobile Banking data was reported at 48,348.663 MYR mn in 2017. This records an increase from the previous number of 33,160.791 MYR mn for 2016. Malaysia Electronic Payments: Channels: Value: Mobile Banking data is updated yearly, averaging 852.126 MYR mn from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 48,348.663 MYR mn in 2017 and a record low of 4.455 MYR mn in 2005. Malaysia Electronic Payments: Channels: Value: Mobile Banking data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

According to a survey by Rakuten Insight on e-payment usage in October 2022, about 94 percent of respondents in Malaysia aged between 16 to 24 years indicated that they used Touch 'n Go for e-payment transactions. In the same survey, 93 percent of respondents had made a transaction using e-payment methods.

Malaysia Electronic Payments: Instruments: Volume: E-money data was reported at 152.224 Unit mn in May 2018. This records a decrease from the previous number of 156.637 Unit mn for Apr 2018. Malaysia Electronic Payments: Instruments: Volume: E-money data is updated monthly, averaging 85.182 Unit mn from Jan 2008 (Median) to May 2018, with 125 observations. The data reached an all-time high of 168.439 Unit mn in Aug 2017 and a record low of 44.636 Unit mn in Jan 2008. Malaysia Electronic Payments: Instruments: Volume: E-money data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA060: Payment System Statisitcs.

Electronic payments used to make payments (% age 15+) in Malaysia was reported at 65.51 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Malaysia - Electronic payments used to make payments (% age 15+) - actual values, historical data, forecasts and projections were sourced from the World Bank on April of 2025.

The report covers Malaysia Payment Market Statistics and it is segmented by mode of payment (point of sale (card payments, digital wallets (including mobile wallets), cash) and online sale (card payments, digital wallets)) and end-user industry (retail, entertainment, healthcare, and hospitality). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

According to a survey conducted by Rakuten Insight on e-payment usage in October 2022, around 92 percent of e-payment users in Malaysia indicated that they had used Touch 'n Go for e-payment transactions. GrabPay and Boost were also popular with Malaysian users, with 51 and 36 percent of respondents respectively saying they had used these digital payment providers. In the same year, the Touch n’ Go had the highest brand awareness compared to other e-wallet providers in Malaysia in 2021.

Increasing number of competitors

With cashless transactions starting to become more popular across Malaysia, consumers now have a wider selection of digital payment service options to choose from. In January 2023, the Malaysian government said that there was the possibility of other e-payment methods being accepted on toll roads and expressways. This could spur more growth in the e-payment sector, with the

Malaysia Electronic Payments: Systems: Volume: FPX and Direct Debit data was reported at 36,154.215 Unit th in 2017. This records an increase from the previous number of 10,638.001 Unit th for 2016. Malaysia Electronic Payments: Systems: Volume: FPX and Direct Debit data is updated yearly, averaging 1,454.087 Unit th from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 36,154.215 Unit th in 2017 and a record low of 0.597 Unit th in 2005. Malaysia Electronic Payments: Systems: Volume: FPX and Direct Debit data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

Malaysia Payment Market size was valued at USD 235.6 Billion in 2024 and is expected to reach USD 720.71 Billion by 2032, growing at a CAGR of 15% from 2026 to 2032.

The Malaysia payment market is driven by rapid digitalization, high smartphone penetration, and strong government initiatives promoting a cashless economy. The rise of e-commerce, mobile wallets, and QR-based payments has accelerated digital payment adoption, supported by Bank Negara Malaysia’s regulatory framework and incentives for fintech innovation.

Additionally, increasing financial inclusion, growing consumer preference for contactless transactions, and the expansion of real-time payment systems like DuitNow are key factors. The presence of global and local payment players, coupled with rising cross-border transactions, further fuels market growth.

Malaysia Electronic Payments: Channels: Volume: ATM: Transactions data was reported at 71.574 Unit mn in 2017. This records an increase from the previous number of 71.293 Unit mn for 2016. Malaysia Electronic Payments: Channels: Volume: ATM: Transactions data is updated yearly, averaging 42.091 Unit mn from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 71.574 Unit mn in 2017 and a record low of 1.775 Unit mn in 2006. Malaysia Electronic Payments: Channels: Volume: ATM: Transactions data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

According to a survey by Rakuten Insight on e-payment usage, 52 percent of female respondents and 50 percent of male respondents in Malaysia stated that they had not made any e-payment transactions because they preferred cash. In the same survey, about 93 percent of respondents indicated that they had made a transaction using e-payment methods.

According to a survey by Rakuten Insight on e-payment usage in October 2022, about 86 percent of respondents in Malaysia aged between 25 to 34 years indicated that they used e-payment transactions to pay for online purchases. In the same survey, 93 percent of respondents had made a transaction using e-payment methods.

Malaysia Electronic Payments: Systems: Value: FPX and Direct Debit data was reported at 60.868 MYR bn in 2017. This records an increase from the previous number of 40.040 MYR bn for 2016. Malaysia Electronic Payments: Systems: Value: FPX and Direct Debit data is updated yearly, averaging 9.070 MYR bn from Dec 2007 (Median) to 2017, with 11 observations. The data reached an all-time high of 60.868 MYR bn in 2017 and a record low of 0.455 MYR bn in 2007. Malaysia Electronic Payments: Systems: Value: FPX and Direct Debit data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.

Malaysia Electronic Payments: Instruments: Volume: Debit card data was reported at 162.154 Unit mn in 2017. This records an increase from the previous number of 107.567 Unit mn for 2016. Malaysia Electronic Payments: Instruments: Volume: Debit card data is updated yearly, averaging 25.114 Unit mn from Dec 2005 (Median) to 2017, with 13 observations. The data reached an all-time high of 162.154 Unit mn in 2017 and a record low of 2.098 Unit mn in 2005. Malaysia Electronic Payments: Instruments: Volume: Debit card data remains active status in CEIC and is reported by Bank Negara Malaysia. The data is categorized under Global Database’s Malaysia – Table MY.KA061: Payment System Statistics: Annual.