Malaysia Payment Tips 2025: a must-read for opening a shop

I. Overview of the Malaysian payments market

The Malaysian e-payment market is expected to reach a size of US$15 billion by 2025, with mobile wallet usage exceeding 751 TP3 T. As a merchant, it is vital to understand local payment habits.

II. Mainstream payment methods

1. Electronic purse (most popular)

• Touch 'n Go eWallet: More than 20 million users, cooperation with Alipay
• GrabPay: Super Apps for the Extension of the Netflix Ecosystem
• Boost: Popular wallets supported by local banks
• ShopeePay: E-commerce platforms own payment tools

2. Bank card payments

• High Visa/Mastercard penetration (60% card holdings)
• Cards issued by local banks such as Maybank and CIMB predominate

3. QR code payments (government facilitated)

• DuitNow QR National Standard System (supports interbank transfers)

4. BNPL buy now pay later service

III. BNPL buy-and-pay services (key trends for 2025)

1. Mainstream BNPL platform

• Atome: No.1 market share in Malaysia, supports 3 interest-free instalments
• Grab PayLater: Credit payment service based on the Grab ecosystem
• Split: Flexible instalment programme supported by local banks
• Shopee PayLater: Specialised instalment tools for e-commerce scenarios

2. BNPL User Profile

• Young consumers aged 18-35 account for 78%
• Average single transaction RM200