E-wallet comparison in Malaysia

E-wallet comparison in Malaysia

To date, 53 e-money issuers have been listed, including 47 non-bank e-money licenses, on BNM’s website under the e-money issuers category. That’s a lot of options to choose from so it’s not surprising that one can get easily overwhelmed when it comes to deciding which e-wallet is the best in Malaysia.

E-Wallet	Backed by	Why it’s worth it	Notable merchants
Boost	Axiata Group	Accepted at 140,000 touchpoints covering both online and physical stores in Malaysia. Available at merchants accepting UnionPay cards. Get cashback from 800 Shell stations nationwide. Allows parking payment at DBKL’s car park. Pay bills for Astro, Syabas and Telekom, among others.	Giant, Watsons, Tealive, KK SUPER MART
GrabPay	Grab	GrabPay can be used to order food, for shopping, paying for rides and transferring GrabPay credits as part of its Grab ecosystem. Each GrabPay transaction lets you earn points to redeem attractive deals. Top-up your mobile phone credits directly on your Grab app for services like Celcom, Digi, Maxis, U Mobile and TuneTalk. GrabPay’s partnership with Maybank allows for cross platform use.	Legoland, Jaya Grocer, KFC, Family Mart, Boost (juice bar)
Touch ‘n Go eWallet	Alipay and Touch ‘n Go	Users can send up to RM5,000 per month to peers. Covers over 150,000 merchants nationwide. Can be used to pay tolls at participating highways nationwide. Their Money-back Guarantee policy promises full compensation within five days if your e-wallet is being charged with unauthorised purchases or reload. Can be used to purchase items on the Apple Store and iTunes, pay street parking, taxi rides and food delivery services. Available for booking bus tickets online via BusOnlineTicket.com or as a payment method for purchasing KLIA Express and KLIA Transit tickets; however the cashless payment option will be offered over the counter, rather than at the gate.	Giant, Mydin, Tesco, Watsons, Lazo Diamond, Converse
Razer Pay	Razer Inc.	Available as a payment method at over 1,000 online merchants. Users can get a Razer Pay top-up PIN from any 7-Eleven store in Malaysia. Participating banks include AmBank, Bank Islam, CIMB, Hong Leong Bank, Maybank and Public Bank. For verified accounts, the daily transaction limit is capped at RM3,000, and RM48,000 for annual transactions. Gamers get to purchase PIN codes for services such as zGold MOLPoints, Steam Wallet, Garena, Sony PlayStation, Spotify, iflix and more.	KK SUPER MART, Starbucks, Burger King, 7-Eleven, Tealive, FashionValet, JD Sports, F.O.S.
Wechat Pay	Tencent Group	Malaysia is the first foreign country outside of China to have WeChat Pay enabled in a local currency. Their merchant list includes AmBank, Hong Leong Bank, iPay88, MOL and Revenue Monster. KK SUPER MART is the first chain store in Malaysia to accept WeChat Pay MY. Only available for Mastercard or Visa debit cards issued by local banks. Available to pay prepaid plans for telco brands like Altel, Celcom, Digi, Friendi, Maxis, Merchantrade, Tune Talk, U Mobile and XOX. Purchase bus and airline tickets directly from the app; can select seats through a third-party bus and airline ticket service provider. Withdrawal limits set at RM10,000 per calendar month, and RM4,500 per wallet account and per bank account.	KK SUPER MART
MAE	Maybank	Open to non-Maybank customers as well. Upon registration, users will get a Maybank account number and a virtual debit card. Downloading the app is not required, as the MAE app is integrated right in the Maybank2U app. Available at over 200,000 QRPay merchants. Able to book movie tickets and flight tickets. MAE has a maximum wallet size of RM4,999.99 and a limit of RM2,999.99 per transaction.	AEON, AEON BiG, Jaya Grocer, Krispy Kreme, TGV Cinemas, San Francisco Coffee, Mydin, Chatime, Watsons, McDonald’s
BigPay	70% AirAsia	BigPay’s e-wallet works in tandem with a physical Mastercard prepaid card. Due to its credit card-like feature, you can still make payments at locations that don’t accept e-wallets by using your BigPay card. Won’t be able to pay for an item that costs more than the balance in your e-wallet. Able to make online purchases and withdraw funds from ATMs. The card is part of AirAsia’s Big Loyalty Programme. AirAsia Founder Tony Fernandes believes the service will be worth more than his airline in the future.	Accepted at over 40 million merchants worldwide that accept Mastercards, except in North Korea and Israel