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Leading Mobile PSP's in Malaysia 2020 - COVID-19 has Accelerated Malaysian Consumers’ Interest in Mobile Payments

Research and Markets
·5-min read

Dublin, Nov. 18, 2020 (GLOBE NEWSWIRE) -- The "Top Mobile Payment Service Providers in Malaysia 2020 and their Reaction to the COVID-19 Crisis" report has been added to's offering.

Mobile payments boosted by spread of COVID-19 in Malaysia

Supported by the Governments e-Wallet popularization programs during the outbreak of COVID-19, e-Wallet providers have flourished during the Coronavirus pandemic. A survey cited in the report reflects that two-fifths of Malaysian consumers have adopted e-Wallets, as of June 2020. This puts the country in the first place in e-Wallet adoption among Southeast Asian countries. Moreover, the number of digital wallets in the country had been constantly growing throughout 2019 and has especially accelerated after the outbreak of Coronavirus this year.

Competition between the Malaysian payment providers strengthens amid the health crisis

Amid the pandemic in Malaysia, the top mobile payment providers were Touch 'n Go, Boost, GrabPay and BigPay. With that, Touch 'n Go was preferred for use by four in five Malaysian consumers in September 2020. At the same time, Maybank2u, an online payment service from the largest Malaysian bank, is maintaining its market position and attracts new customers by offering an all-in-one payment app in October 2020, as detailed in the report.

During the Coronavirus, digital wallets in Malaysia undergo a surge in the use of their services

Malaysian e-Wallet BigPay saw about five-times growth in remittance transaction volume via its platform amid the pandemic. Moreover, standard e-Wallet services are gaining momentum, as Malaysian digital wallet Boost has noted a doubling in the weekly transaction value of its users in August, compared to December 2019.

Report Coverage

  • This report covers the Malaysian payment market with a focus on the reaction of the top Mobile Payment Service Providers to the COVID-19 outbreak. It includes information related to payment methods used, transaction volumes, payment trends and recent COVID-19 related news of the top Mobile PSPs in Malaysia.

  • Our report focuses on the strategies adopted by Malaysian Mobile PSP's during the COVID-19 pandemic. Information related to both remote and in-store payments.

  • The data in the reports is from sources mostly published in the previous 12 months. The exact date of publication of the source is stated on each chart. The time period which the data refers to differs by source.

Report Structure

  • The Overview chapter opens the report, featuring a summary of the payments market in Malaysia. The latest trends and developments are summarized on the text charts and data highlights are provided on quantitative charts.

  • The rest of the report is divided by the top four Mobile PSP's presented in the descending order of consumer preference. Within each chapter, there is a company profile as well as text charts with relevant news and quantitative charts.

  • Depending on data availability, the following types of market information are included: value and/or volume of transactions, number of users, payment methods used in-store and online, plus COVID-19's impact on the Mobile PSPs.

  • Not all the mentioned types of information are provided for each of the covered Payment Service Providers due to varying data availability.

Companies Mentioned

  • BigPay Malaysia Sdn Bhd

  • Boost Holdings Sdn Bhd

  • GrabPay

  • Samsung Pay

  • Touch 'n Go Sdn Bhd

Key Topics Covered

1. Management Summary

2. Overview

  • COVID-19's Impact on e-Wallet Payment Services, November 2020

  • Frequency of Online Purchases, in % of Online Consumers, April 2020

  • Consumer Goods e-Commerce Value, in USD billion, 2020e & 2025f

  • Top 10 e-Commerce Web-Sites, by Monthly Web Visits, April 2020 - June 2020

  • Breakdown of Used Payment Methods for Online Shopping, in % of Respondents, July 2020

  • Share of Transactions and Share of Transactions Value, by Payment Instrument, in % of Total Transactions, 2019 & 2024f

  • Consumers Who Prefer Contactless Card Payments, in % of Consumers Using Cards for Payments, by Card Payment Type, June 2020

  • Share of Consumers Who Own e-Wallets in Selected Countries, incl. Malaysia, the Philippines, Thailand, and Singapore, in %, March 2020 - April 2020

  • Number of Digital Wallet Accounts, in millions, and Year-on-Year Change, October 2019 - March 2020

  • e-Wallets Transaction Value, in USD billion, 2019 & 2025f

  • Top 5 e-Wallets Used, in % of Consumers, Q1 2019 - Q2 2020

  • Top 3 Business FinTech Usage, in % of FinTech Business Users, June 2020 - July 2020

  • Mobile POS Transaction Value, in USD billion, 2020 & 2024f

  • Attitude Towards Virtual Banking, in % of Bank Account Owners, October 2019

  • Profile of Maybank2u and MAE, November 2020

  • COVID-19's Impact on Maybank2u and MAE activity, November 2020

  • Preferred Payment Methods, in % of Online Consumers, March 2020 & April 2020

  • Bill Payments Using e-Wallets, by e-Wallets, in % of Consumers, July 2019 - September 2019

  • Profile of Samsung Pay and COVID-19's Impact on its activity, November 2020

3. Touch 'n Go

  • Profile of Touch 'n Go in Malaysia, November 2020

  • COVID-19's Impact on Touch 'n Go's activity, November 2020

  • Touch 'n Go's Total Registered Users and Annual Active Users, in millions, March 2020 & June 2020

  • Top App Publishers Based on Downloads, in millions, October 2020

4. Boost

  • Profile of Boost in Malaysia, November 2020

  • COVID-19's Impact on Boost's activity, November 2020

  • Boost's Registered Users, in millions, 2018, 2019 & 2020

  • Food & Beverages Purchases via e-Wallets, by Kind of Vendor, in %, and Share of e-Wallets, in %, July 2019 - September 2019

5. GrabPay

  • Profile of GrabPay in Malaysia, November 2020

  • COVID-19's Impact on GrabPay's activity, November 2020

  • Share of Total Cashless Transactions and Share of Grab's Cashless Transactions, in %, March 2019

6. BigPay

  • Profile of BigPay in Malaysia, November 2020

  • COVID-19's Impact on BigPay's activity, November 2020

  • BigPay's Sales Value, in MYR million, Q2 2018, Q2 2019, & Q2 2020

For more information about this report visit

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