![]() To be able to use this particular service, an individual would have to install the Paypal application and connect their card or cards to the software thus making it easier for them to make payments or carry out a transaction. Paypal is a globally renowned digital wallet that’s no stranger to Malaysians who buy international goods and services. With the many choices of digital wallets available, GCG Asia takes a look at a few of the most prominent e-wallets in Malaysia to choose from. With this boost towards safe, a contact-free payment experience and to boost consumer spending, e-wallet usage is set to rise even more. According to GCG Asia analyst report, Malaysian E-wallet providers recently got a boost during the pandemic with the Malaysian government allocating a total of RM750 million to promote the usage of e-wallets which benefits 15 million Malaysian users. There are more than 50 e-wallets in the country and options are growing each day occupying roughly 9% of Malaysia’s fintech space. ![]() Once the person has installed the software or the app they are able to access the services and make a transaction as they desire.Īccording to GCG Asia Malaysia-based experts, Malaysians are way ahead of other countries in Southeast Asia when it comes to using e-wallets. For an individual to have this type of digital wallet account, they would have to install the particular software required. E-wallets use software to store personal information and secures this information by encrypting the data. An e-wallet facilitates online payment transactions that is quickly becoming the payment method of choice around the world. This shows the steady rise of e-wallet adoption in the region is a booming sector that is set to upend traditional banking services.Īn e-wallet is basically a digital wallet that can be used to make transactions through a computer or smartphone. Moreover, more and more consumers prefer to use e-wallets. According to a GCG Asia analyst report, around 70 percent of South East Asian consumers will go digital with a total of 310 million expected by 2025. ![]() The number of digital consumers in South East Asia are set to rise as the global pandemic accelerates adoption of online services. ![]()
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