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Domestic and Preferred Card Schemes

There are over 50 million cards in Malaysia albeit a population size of 30 million. With 8 million cards in circulation, credit cards are by far the most popular payment card in Malaysia. The transaction volume of credit cards vs. debit cards is 4 to 1. The credit card dominance trend is expected to continue up to 2020. This is bolster by aggressive promotion as credit card issuers continue to entice customers with attractive rewards and promotions.[1]

Alternative Payment Methods


Other Payment Methods

As in many countries in Southeast Asia, cash still rules in Malaysia. However, card payments are steadily growing.[2]

Digital Invoicing


Customer Experience

In a recent report, consumers said that they are feeling safer carrying payment cards, because unlike cash, it can be blocked if stolen. Fear of fraud and counterfeit exposure by consumer and retailer need to be addressed. Therefore, it is of paramount importance that provider of e-commerce payment must instil customer’s confidence to adopt online payment by incorporating a globally known and secured platform e.g. Verified by Visa and MasterCard SecureCode in their payment system.[3]

Payments Regulation

With the adoption of EMV standards, card payments are more secure.[4]

Local entities


Mobile payments

Both banks and telecom services have launched initiatives to encourage the adoption of card readers by retailers, especially small and medium-sized enterprises (SMEs), which make up 99 per cent of all businesses in Malaysia. The success of such initiatives is essential if card-based payments are to see more widespread acceptance in the country.[5]





Import Duties






Social Media


Major shopping categories

The market's largest segment is the segment "Electronics & Media" with a market volume of US$425m in 2017.[6]

Major retail holidays


Legal / Regulatory

The Malaysian government has initiated a roadmap calling for private sector cooperation to double the rate of E-Commerce sales growth.[7]

FX Policies



User penetration is at 65.7 % in 2017 and is expected to hit 76.8 % in 2021.[8]


Coupled with the current stage of improved card security, this market is poised for exponential growth potential for payment platform providers.[9]

Mobile appetite

During the fourth quarter of 2016. 38 percent of the population in Malaysia had made a purchase via mobile phone.[10]


  1. Wirecard AG "Huge Opportunities for E-Commerce Malaysia"
  2. Wirecard AG "Huge Opportunities for E-Commerce Malaysia"
  3. Wirecard AG "Huge Opportunities for E-Commerce Malaysia"
  4. Wirecard AG "Huge Opportunities for E-Commerce Malaysia"
  5. Wirecard AG "Huge Opportunities for E-Commerce Malaysia"
  6. Statista "e-Commerce Malaysia"
  7. Business Wire "Malaysia B2C E-Commerce Market 2017"
  8. Statista "e-Commerce Malaysia"
  9. Wirecard AG "Huge Opportunities for E-Commerce Malaysia"
  10. Statista "e-Commerce Malaysia"