In the digital age, carrying cash is becoming less common. E-wallets offer a convenient alternative, letting you pay with your smartphone. With various options available, this guide compares the most popular e-wallets in Malaysia to help you choose the best one.
Comparing the Best E-Wallets in Malaysia
1. Boost
Image by eCentral
- Payment Method: QR code, in-app payments
- Notable Merchants: 99 Speedmart, Telekom Malaysia, DBKL Parking
- Unique Features: Focuses on small merchants, supports in-app bill payments, and allows QR payments at Shell stations.
2. GrabPay
- Payment Method: QR code, in-app payments
- Notable Merchants: TeaLive, Inside Scoop, Manhattan Fish Market
- Unique Features: Integrated with the Grab ecosystem, ideal for rides, food delivery, and more.
3. Lazada Wallet
- Payment Method: Online payments
- Notable Merchants: Lazada
- Unique Features: Offers cashback on Lazada purchases but is limited to the platform.
4. Samsung Pay
Image by Samsung
- Payment Method: Magnetic Field Transfer (MFT), NFC
- Notable Merchants: Any location accepting credit card swiping
- Unique Features: Stores payment card info and supports loyalty cards; limited to high-end Samsung devices.
5. PayPal
- Payment Method: Online payments
- Notable Merchants: Almost every online store
- Unique Features: Global reach, supports cross-border transactions, offers strong buyer protection.
6. Touch ‘n Go eWallet
- Payment Method: QR code
- Notable Merchants: Family Mart, 7-Eleven, Tesco
- Unique Features: Widely accepted, popular for its PayDirect feature linked to TnG cards.
7. BigPay
Image by Tranglo
- Payment Method: QR code, NFC, Prepaid Card
- Notable Merchants: AirAsia
- Unique Features: Combines a prepaid card with an e-wallet, allowing for both online and offline payments. Earns Big Loyalty Programme points with AirAsia.
8. Setel
Image by Setel
- Payment Method: GPS location tracking
- Notable Merchants: Petronas
- Unique Features: Uses GPS to facilitate payments at Petronas stations, offering a unique closed-loop system.
The Future of E-Wallets in Malaysia
With 35 companies and 5 banks holding e-money licenses in Malaysia, the e-wallet landscape is expanding. The move toward a unified QR code system by Bank Negara Malaysia will further simplify transactions, making e-wallets even more integral to daily life in the country.
