eWallet

A digital wallet or eWallet in Malaysia is an electronic service that allows individuals to perform electronic transactions, including online purchases, bill payments, and money transfers, using a digital platform. These wallets are typically accessed via smartphones or computers and provide a convenient, cashless payment method.

In Malaysia, digital wallets have become increasingly popular due to their ease of use, security features, and the added convenience they offer in daily financial transactions. Many eWallets in Malaysia offer additional features like rewards, cashback, and loyalty points, further enhancing their appeal to consumers. The widespread adoption of digital wallets in Malaysia reflects a broader global trend towards digital finance and cashless societies.

Here’s a list of popular digital wallets in Malaysia along with brief descriptions for each:

Certainly! Here are brief descriptions for each digital wallet in Malaysia:

1. Touch ‘n Go eWallet: Developed by TNG Digital Sdn Bhd, it integrates into daily transactions such as online shopping, bill payments, and transportation expenses. It’s known for its interoperability with multiple payment gateways and platforms, and it employs advanced encryption technologies for security. Users also enjoy rewards and cashbacks on transactions.

2. GrabPay: A product of the ride-hailing company Grab, this eWallet is used primarily for Grab services but also facilitates cashless payments for other services. It offers peer-to-peer transfers, rewards points, and top-notch encryption for data safety.

3. Boost: Launched by Axiata Digital Services, Boost is accepted at over 140,000 touchpoints nationwide. Its services extend beyond payment to include bill payments and cashless donations. A unique feature is the ‘Shake Rewards’ program, where users can earn points by shaking their smartphones after payments.

4. MAE Maybank: Developed by Maybank, it offers services to both Maybank and non-Maybank customers. Features include bill payments, mobile top-ups, online shopping, fund transfers, QRPay, and gamified saving features.

5. Setel: Designed by Petronas, this app is focused on fuel purchases at petrol stations, allowing users to pay from their mobile devices. It also integrates a loyalty rewards program.

6. ShopeePay: From e-commerce company Shopee, this wallet facilitates payments for online transactions on the Shopee platform and offline purchases. It offers incentives like cashback, discounts, and exclusive deals.

7. Lazada Wallet: By Lazada, it offers features like instant top-up, cashback, exclusive deals, and a user-friendly interface with advanced security measures like OTP verification and fingerprint recognition.

8. BigPay: Developed by AirAsia Group, it’s used for online transactions, in physical stores, and integrated with AirAsia’s services for earning flight points. It also supports cross-border payments and expense tracking.

9. KiplePay: A product of Green Packet Berhad, KiplePay supports peer-to-peer transfer, prepaid top-ups, bill payments, and parking payment solutions. It’s adaptable to diverse needs, including business owners who wish to customise their own digital wallets.

10. Wise: Known for its cross-border transactions, Wise supports over 50 currencies and operates on real exchange rates without hidden fees. It caters to both personal and business needs with features like batch payments and integration with accounting tools.

11. Merchantrade Money: It functions as a Visa prepaid card for local and international transactions, allowing contactless payments, online purchases, and ATM withdrawals. It can hold up to 20 currencies, making it advantageous for travellers.

12. AEON Wallet: Developed by AEON Co. Ltd., it offers payments at AEON stores and partners, QR code scanning for transactions, exclusive coupons, and easy top-up features.

13. MCash: A Malaysian eWallet service that enables easy and secure payments, money transfers, mobile top-ups, and integrates lifestyle services.

14. SarawakPay: Developed by the Sarawak Government, this platform is designed for ease of use with secure online payments, bill payments, mobile reloads, and fund transfers. It’s accessible through mobile devices or computers.

This table provides an overview of various digital wallets available in Malaysia, highlighting their unique features and services.