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Malaysia

Malaysian Ringgit (MYR)

Bank transfers are the leading payment method in Malaysia, with 90% of consumers using this payment method once a month. Card payments are still popular among online consumers; around 73.8% of Malaysians own a debit card, and 21.3% have a credit card. Many still prefer to pay with cash, which is the most popular among older generations and first-time online shoppers.

Population

32,776,195

Banked Population:

88.37%

Group 427321246

Main industries

T, Financial Services, Manufacturing, Construction, and Education

Group 427321247

Main imports

Integrated Circuits, Refined & Crude Petroleum, Special Purpose Ships, and Broadcasting Equipment

Group 427321248

Main exports

Integrated Circuits, Refined Petroleum, Palm Oil, Semiconductor Devices, and Rubber

GDP stats

$11,371.1

Per capita (USD)

3.1%

Growth annually

37

World ranking

Internet usage

90%

Smartphone usage

88.8%

Credit/debit card usage

75%

Population transacting electronically

70%

Group 427321245 1

Total volume of digital payments projected to reach

$23.38B (USD)

By 2024

Payment Methods in Malaysia

All
  • All Methods
  • P2P
  • eWallet
  • QR Code
  • Instant Bank Wire
  • Fast Bank Transfer

P2P

MAE

eWallet

QRCODE

QRCODE

HSBC Bank

Instant Bank Wire

Maybank

Instant Bank Wire

OCBC Bank

Instant Bank Wire

Public Bank

Instant Bank Wire

RHB Bank

Instant Bank Wire

UOB Bank

Instant Bank Wire

Boost E Wallet

eWallet

DuitNow QR

eWallet

GrabPay Malaysia

eWallet

ShopeePay Malaysia

eWallet

Touch n Go E Wallet

eWallet

EWALLET

FPX

Fast Bank Transfer

Affin Bank

Instant Bank Wire

Alliance Bank

Instant Bank Wire

AmBank

Instant Bank Wire

Bank of Agro

Instant Bank Wire

Bank Islam Malaysia

Instant Bank Wire

Bank Rakyat Malaysia

Instant Bank Wire

Bank Simpanan Nasional

Instant Bank Wire

CIMB Bank

Instant Bank Wire

Hong Leong Bank

Instant Bank Wire

BigPay

eWallet

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