What are the most common payment tools used by Malaysians on a daily basis?

In Malaysia, there are a variety of daily payment tools and their popularity is high, here are some of the most commonly used methods:

1. Cash

• Usage Scenarios: Traditional markets, vendors, some taxis, etc. are still cash-based.
• specificities:: Despite the rapid growth of electronic payments, cash remains dominant in small transactions and in rural areas.

2. Bank Cards (Debit/Credit Cards)

• major brand: Visa, Mastercard, cards issued by local banks (e.g. Maybank, CIMB).
• Usage Scenarios: malls, supermarkets, online shopping, etc.
• specificities: Contact and contactless payments (PayWave/PayPass) are widely supported.

3. Electronic Wallets (E-Wallets)

E-wallets are very popular in Malaysia and the following are the mainstream options:

a) Touch 'n Go eWallet

  - Affiliated services: Tied to the transport card Touch 'n Go Card.

  - Functions: parking fees, motorway tolls (RFID), retail payments, etc.

b) GrabPay (affiliated with Grab)

  - Strengths: Integrated taxi/takeaway service covering multiple countries in Southeast Asia.

c) Boost

  - Features: local brands, support for code payment and coupon rebates.

d) ShopeePay (part of Shopee e-commerce)

  - Scenario: Shopee platform shopping and offline merchants.

4. bank transfer

• DuitNow
  Instant money transfer system promoted by Bank Negara Malaysia:
  You can transfer money by mobile phone number or ID number.
  free or low inter-bank charges.
  For inter-personal transfers or merchant collections.

5.QR code payment

• The PayNet QR standard harmonises QR code formats across platforms.
  Users can pay by scanning the same QR code with any supported app.

6.Buy Now Pay Later (BNPL)
Atome, Split, etc. are popular among the younger crowd.

Notes.
1. There are obvious differences in preferences among different ethnic groups/age groups (e.g. Chinese people mostly use WeChat Pay/Alipay).
2 Government promotes cashless society but rural acceptance remains low
3 It is recommended that travellers install at least one local e-wallet and tie up international credit cards.

Okay, here are further additions and practical suggestions on payment instruments in Malaysia:

7. Use of international payment instruments in Malaysia

• Alipay (Alipay) & WeChat Pay (WeChat Pay)
  • It mainly covers shopping districts, duty-free shops or Chinese merchants frequented by Chinese tourists, and some local merchants are also supported.
  • take note of: Required to bind a Chinese bank card or use the "Tour Pass" function (short-term international version).
• Apple Pay / Google Pay
  • Gradually accepted by local banks (e.g. Maybank, AmBank), but with a lower penetration rate than e-wallets.

8. Special scenario payment methods

a) Transport

• Touch 'n Go Card: Not only e-wallets, but physical cards are still a must for public transport/subway.
• KTM train, Rapid KL bus: Some of them support direct credit card tapping into the station.

b) Cross-border payments

• BigPay (owned by AirAsia): tops up multi-currency accounts and is suitable for frequent travellers to and from Southeast Asia.

9. Notes on fees and limits

10. Recommendations for safe use

1. 🔐 Verify payee information: Confirm that your mobile phone number or ID number is correct before transferring money from DuitNow.
2. 💳 Small split payments: Set a daily spending limit on your e-wallet to prevent skimming.
3. 🚫 Be wary of scams:

• "Posing as a government agency" requesting payment through an unknown link
• "Courier-to-pay scam" requiring payment of customs duties by scanning code

📌 Hands-on tips for visitors:

✅ Must-have combo:

1️⃣ Touch 'n Go eWallet + GrabPay (covers 90% scenarios)

2️⃣ Visa/Mastercard back-up (car hire, hotel deposit etc.)

3️⃣ MYR cash around 200 (night market, remote areas)

❌ Avoid:
-Relies only on UnionPay: Although available at KLIA airport and large shopping centres, coverage is much lower than Visa/Mastercard.

For more specific scenario solutions (e.g., paying utility bills, online shopping tips), let me know what you need!