List of eWallet in Malaysia

The digitisation of the financial industry has seen a significant increase in the proliferation of eWallets globally, with Malaysia being no exception. As cashless transactions become increasingly prevalent, eWallets have emerged as a convenient alternative to traditional payment methods.

Each option is evaluated based on user interface and experience, security features, and transactional benefits. This comprehensive review allows potential users to decide which eWallet best suits their digital transaction needs.

Touch ‘n Go eWallet

In the digital finance landscape in Malaysia, Touch ‘n Go eWallet has emerged as a revolutionary platform, offering an array of services that seamlessly integrate into daily transactions and activities.

Developed by TNG Digital Sdn Bhd, this eWallet system caters to a broad spectrum of financial needs including online shopping, bill payments, and transportation expenses among others.

A notable feature is its interoperability with multiple payment gateways and platforms, thus ensuring convenience for users.

The application prioritizes security by employing advanced encryption technologies. In addition to this, it offers rewards and cashbacks on transactions which further attract users towards its adoption.

Therefore, Touch ‘n Go eWallet represents a significant stride in Malaysia’s transition towards a cashless society.


Undeniably, GrabPay has emerged as a popular digital payment platform, offering users the convenience of seamless transactions for a variety of services. Developed by the ride-hailing app company Grab, this eWallet is embedded within the application and primarily used to pay for Grab services.

  • First and foremost, GrabPay facilitates cashless payments for multiple services such as food delivery, ride-hailing, parcel delivery and even payment at physical stores.
  • Furthermore, it extends its utility by allowing users to make peer-to-peer transfers with ease.
  • An additional feature includes rewards points accumulation which can be redeemed for various discounts or perks.
  • Lastly, security measures are prioritized in GrabPay; implementing top-notch encryption technologies to ensure user data safety.

GrabPay’s user-friendly interface coupled with its versatility contribute significantly towards its popularity in Malaysia’s digital economy landscape.


Boost offers a wide range of services that caters to the evolving needs of its user base. Launched by Axiata Digital Services in 2017, this mobile wallet is widely accepted across Malaysia. It boasts a user-friendly interface that allows seamless transactions at more than 140,000 touchpoints nationwide. Beyond payment services, Boost’s features include bill payments, prepaid top-ups, and cashless donations to charitable organizations.

The application also provides an innovative rewards program called ‘Shake Rewards’, where users can earn points by shaking their smartphones after making a payment. These points can be redeemed for various incentives including discounts and cashback offers.

With its diverse offerings and strong presence in the market, Boost has significantly contributed to Malaysia’s transition towards digital economy.

MAE Maybank

Another significant player in the digital payment arena is MAE Maybank, launched by one of Southeast Asia’s largest banking conglomerates. Developed with a focus on enhancing financial inclusivity and broadening digital adoption, MAE Maybank has rapidly gained traction across Malaysia.

  1. Extensive Reach: With its robust network, the e-wallet services are accessible to both Maybank and non-Maybank customers.
  2. Versatility: The platform offers a comprehensive range of services including bill payments, mobile top-ups, online shopping, and fund transfers.
  3. QRPay Feature: Users can make cashless transactions at participating outlets simply by scanning QR codes.
  4. Tabung Feature: It encourages users to save money through gamified saving features.

This innovative platform incorporates user-friendly technology to simplify financial transactions and promote greater economic engagement among Malaysians.


Setel has emerged as a unique platform redefining convenience for motorists. Developed by Petronas, Malaysia’s national oil company, it is designed to facilitate seamless fuel purchases at petrol stations.

The application allows users to bypass traditional payment methods by directly paying from their mobile devices without leaving their vehicles. This offers safety and simplicity during fuel transactions.

The e-wallet also integrates loyalty rewards program Mesra in its interface, enabling consumers to earn points with every transaction made through the app.

Besides fuel-related services, Setel provides features such as locating nearby Petronas stations and viewing current fuel prices.

In summary, Setel combines payment solutions with value-added services to enhance user experience in the Malaysian digital payments ecosystem.


ShopeePay, an integrated mobile payment platform developed by Southeast Asia’s leading e-commerce company Shopee, has seen rapid growth and acceptance among consumers.

This digital wallet is widely accepted in Malaysia and offers a seamless payment experience for online transactions on the Shopee platform as well as offline purchases at partnering retail outlets.

A major factor contributing to its popularity is the range of incentives offered such as cashback rewards, discounts and exclusive deals which enhance user value.

Furthermore, it provides a secure environment for transactions with encryption measures ensuring data safety.

ShopeePay also supports cross-border transactions facilitating international purchases.

Its user-friendly interface and extensive functionalities underscore its position as a significant player in the Malaysian e-wallet landscape.

Lazada Wallet

Lazada Wallet, developed by one of Southeast Asia’s e-commerce giants – Lazada, has carved its own niche in the digital payment space. This e-wallet is designed to provide a secure and seamless shopping experience for consumers in Malaysia.

Lazada Wallet offers an array of versatile features such as instant top-up, cashback opportunities, and exclusive deals that cater to the evolving needs of modern users.

Its user-friendly interface enables easy navigation and simplifies online transactions, thereby reducing time spent on making payments.

The wallet also places paramount importance on security measures which include OTP verification and fingerprint recognition.

These key attributes have positioned Lazada Wallet as a preferred choice among Malaysian consumers for various types of transactions ranging from purchase of goods to bill payments.


Another significant e-wallet service in Malaysia is BigPay. Developed by AirAsia Group, BigPay is an alternative payment method for online transactions and physical stores. It distinguishes itself through its integration with AirAsia’s services, offering customers the advantage of earning points to redeem on flights.

Integrated with AirAsia ServicesEarn points for flight redemptionLimited to AirAsia ecosystem
Cross-border paymentsConvenient international transfersMay involve currency conversion fees
Expense tracking featureEases budget managementNot fully comprehensive
Physical Card AvailabilityCan be used like a debit card at any MasterCard accepted outletPotential risk of loss or theft
No monthly feeAffordable usageTransaction limits apply

Thus, BigPay offers numerous benefits but also has limitations that users should consider before choosing it as their primary e-wallet.


Pivoting to another digital payment platform, KiplePay emerges as a noteworthy contender in the realm of cashless transactions. Established by Green Packet Berhad, KiplePay is a licensed e-money issuer regulated by Bank Negara Malaysia.

Its innovative features include:

  • Peer-to-peer transfer
  • Prepaid top-ups
  • Bill payments

It also supports online shopping and dining payments through QR code scanning, indicating its versatility in various spending categories.

Furthermore, it offers unique services such as parking payment solutions that eliminate the need for physical tickets or coins. Additionally, business owners can utilize KiplePay’s white-label solution to customize their own digital wallets, demonstrating its adaptability to diverse needs.

Overall, KiplePay presents itself as an accessible and user-friendly option within Malaysia’s burgeoning e-wallet landscape.


Wise, formerly known as TransferWise, emerged as a formidable player in the digital financial services sector. Rooted in London, it has extended its services to various countries, including Malaysia. Providing more than just an eWallet function, Wise offers cross-border transactions at competitive rates.

  • Wise aims to make international money transfers cheaper and easier through its peer-to-peer platform.
  • It supports over 50 currencies, enabling users from different regions to transact effortlessly.
  • The platform operates on real exchange rates without hidden fees – a transparent practice that wins customer trust.
  • In addition to personal usage, Wise also caters to businesses with features like batch payments and integration with accounting tools.

Merchantrade Money

Another prevalent eWallet in Malaysia is Merchantrade Money. This digital wallet, developed by Merchantrade Asia Sdn Bhd., offers a variety of services to its users.

Notably, it functions as a Visa prepaid card that can be utilized for both local and international transactions. It allows customers to conduct contactless payments, online purchases, and ATM withdrawals globally.

Additionally, an important feature of this eWallet is the ability to hold up to 20 currencies concurrently. This multi-currency functionality makes it particularly advantageous for travellers or those conducting international business.

Furthermore, users can track their spending and manage their finances through the app’s user-friendly interface.

Thus, Merchantrade Money offers a comprehensive financial management tool through its digital wallet platform.

AEON Wallet

AEON Wallet, developed by the prominent retail corporation AEON Co. Ltd. This electronic wallet offers myriad features that make financial transactions easier for its users, thereby enhancing their overall shopping experience in Malaysia.

AEON Wallet provides several key features:

  • The ability to make payments at any AEON store and other selected partners nationwide
  • A QR code scanning system for quick and secure transactions
  • The option to receive exclusive coupons directly within the e-wallet application
  • A seamless top-up feature via linked bank accounts or at any AEON counter

These attributes have contributed significantly to the growing popularity of AEON Wallet as one of the preferred e-wallets among consumers in Malaysia.


MCash, a promising digital finance platform, has been designed to simplify monetary transactions for its users. It is a Malaysian-born eWallet service that provides an easy and secure way to make payments, transfer money, and even purchase mobile phone top-ups. MCash strives to be more than just a payment system by integrating lifestyle services within the application.

1Payment SystemMCash allows users to make payments at partnered retailers simply by scanning QR codes.
2Money TransferUsers can securely send money to others with an MCash account instantly.
3Mobile Top-UpThe platform also offers mobile phone top-up services for various telecommunication providers in Malaysia.
4Lifestyle Services IntegrationIncludes features such as booking tickets for transportation or movies directly from the app.


SarawakPay, a digital financial platform conceived in the heart of Borneo, offers an innovative approach to handle monetary transactions, aiming to improve users’ experience with its multifaceted features. As a product of the Sarawak Government’s initiative towards digitization and financial inclusion, SarawakPay serves as an e-wallet that provides seamless and secure transactions.

  1. User-Friendly Interface: The platform is designed for ease of use, enabling quick access to funds and transaction history.
  2. Secure Transactions: It adheres to high standards of security measures ensuring safe online payments.
  3. Versatility: SarawakPay facilitates various types of payments such as bill payments, mobile reloads, and fund transfers.
  4. Accessibility: It can be accessed through mobile devices or computers anywhere at any time providing convenience to its users.

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