Malaysia Payment User Behaviour Survey Report 2025: The Rise of Digital Payments and Future Trends

Introduction: An Overview of the Malaysian Payments Market

With the digital economy booming globally, Malaysia, as a key emerging market in Southeast Asia, is seeing unprecedented growth in its payments industry in 2025. Based on data from an in-depth survey of 5,000 Malaysian users aged 18-65, this report provides a comprehensive analysis of the current behavioural characteristics, changes in preferences and future trends of payment users in the country.

Data shows that Malaysia's digital payment penetration has reached a staggering 89% in 2025, nearly doubling from 48% in 2020. Behind this leap forward is a combination of government policy push, innovation from fintech companies and shifting consumer habits.

I. Market share analysis of mainstream payment methods

1.1 The dominance of e-wallets

The survey shows that e-wallets have become the most popular payment method in Malaysia in 2025, accounting for 43% of daily transactions. which:

• Touch 'n Go eWallet leads with 28% market share
• GrabPay share 19%
• Boost and ShopeePay accounted for 15% and 13% respectively

Notably, the Buy Now Pay Later (BNPL) feature has been integrated into all major e-wallet platforms, with the percentage of users using the service as high as 62%.

1.2 Evolution of card payments

Bank cards (both debit and credit) maintain a 351 TP3T share of transactions despite fierce competition from e-wallets. Key findings include:

• Visa and Mastercard together accounted for 87% of bank card transactions
• The proportion of "cardless transactions" completed through mobile phone NFC function reaches 59%
• Acceptance of QR code tied card payments rises to 78%

1.3 Continued shrinkage in the use of cash

For the first time, the proportion of cash transactions fell below 201 TP3T, accounting for only 171 TP3T of all transactions, with the main focus on:
-Rural (63%)
-Groups of older persons (58%)

Second, the depth of analysis of user payment behaviour

2.1 Analysis of high-frequency usage scenarios

In 2025, Malaysian users' payment behaviours show clear scenarios:

• Retail Shopping (38%): E-wallets have become the preferred payment method for offline convenience stores and supermarkets, with a high share of 72% for small transactions (below RM50).
• Catering consumption (25%): QR code ordering + contactless payment penetration in fast food restaurants and cafes is at 89%, with younger users preferring to use GrabPay or ShopeePay for cashback offers.
• Transport and travelling (18%): Touch 'n Go eWallet occupies a monopoly in scenes such as motorway tolls and bus and metro, with average daily transactions exceeding 5 million.
• Online e-commerce (12%): The usage of instalment option grew to 45% in Lazada and Shopee platforms, especially for electronics and high unit price items.

Notably, "social commerce" (e.g., WhatsApp/Facebook Marketplace transactions) has fuelled the demand for instant P2P transfers, with DuitNow QR accounting for 34% of such transactions.

2.2 User Loyalty and Platform Switching Behaviour

Despite high e-wallet penetration, user reliance on a single platform is declining:

• On average, each user uses 2.3 e-wallet apps at the same time;
• Users of the 51% will switch payment methods based on merchant offers;
• GrabPay has the highest retention rate (68%) due to the flexibility of redeeming points, while Boost maintains steady growth in rural areas due to government subsidy schemes.

III. Four Key Factors Affecting Payment Options

(1) Convenience (42%)

"One-click payment" and facial recognition authentication have become core requirements: