Top 10 Recommended Local Payment Platforms in Malaysia

Here are the 10 most popular local payment platforms in Malaysia (as of 2023) covering e-wallets, bank transfers and online payment solutions:

1. Touch 'n Go eWallet

  • specificities: Malaysia's most used e-wallet, tied to the transport card Touch 'n Go, supports code-sweeping payments, bill payments, online shopping and more.
  • Applicable Scenarios: Offline merchants, motorway tolls, public transport.

2. GrabPay

  • specificities: An e-wallet within the Grab ecosystem that supports taxi, takeaway, money transfer and offline partner merchant payments.
  • cutting edge: Cross-border function (available in some Southeast Asian countries).

3. Boost

  • specificities: Developed by Axiata Group, it supports QR code payment, mobile phone top-up, insurance purchase and more.
  • bright spot: Cashback and discounts are frequently offered.

4. Maybank QRPay

  • Malayan Banking has launched a code-sweeping payment service with a direct link to the bank account for Maybank subscribers.

5. ShopeePay

5. ShopeePay

  • specificities: Part of the Shopee e-commerce ecosystem, it supports online shopping and offline code payment (convenience stores, restaurants, etc.) and often offers high cashback and coupons.
  • cutting edge: Deeply bound to the Shopee platform, suitable for high-frequency online shoppers.

6. DuitNow

  • specificities: A standardised real-time money transfer system launched by Bank Negara Malaysia (BNM) that supports instant inter-bank transfers (mobile or ID number only).
  • Applicable Scenarios: Personal transfers, merchant collections (no handling fee).

7. FPX (Financial Process Exchange)

  • An online bank direct payment system regulated by Bank Negara Malaysia covering almost all local banks.
  • Suitable for large transactions (e.g. e-commerce platforms, education payments) without the need for e-wallet balances.

8. Razer Pay (merged into Boost)

Originally designed as an e-wallet for gamers, the merger with Boost in 2021 resulted in a consolidation of functions, with some of the specialised services (such as game top-ups) still retained.

9. Setel (official payment by Petronas)

Designed for petrol station scenarios, the app allows for contactless payment of fuel and points redemption offers at Petronas petrol stations.

10. BigPay

eWallet + Prepaid Card Service by AirAsia.
✅ Support for international remittances (favourable exchange rates)
✅ Offline card spending (Visa channel)
✅ Suitable for frequent cross-border travellers

🔍 How to choose?

1️⃣ daily small purchases → Touch 'n Go/GrabPay/Boost
2️⃣ large or e-commerce payments → FPX/DuitNow
3️⃣Specific needs: petrol (Setel), cross-border (BigPay), online shopping (ShopeePay)