How Many E Wallet In Malaysia

We are expecting a few more e money issuers notably telekom malaysia and myeg which had announced the intention to join the e wallet bandwagon. Top up e wallet via visa or master credit card. There are generally 4 ways to top up your e wallet in malaysia.

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Top up e wallet via molpay cash at 7 11 outlets only for razerpay grabpay for now.

How many e wallet in malaysia. Just recently ride hailing giant grab launched grabpay in malaysia. E wallets have been sprouting thick and fast in malaysia over the last of couple of years and with over 40 e wallet licenses issued by bank negara malaysia so far it doesn t look like they re set to slow down any time soon. And that s just the ones that we found. I don t think there are any concrete lines we can draw about how many e wallets in malaysia is more than neccesary but i would argue that over 40 is far too many for one ecosystem.

Molpay cash at 7 11. They have been pushing very hard to widen their users base for both merchants and customers alike. The answer is 42 e money licenses at the time of publishing 5 banks and 37 non banks. Not all of these licenses are currently being used for e wallet apps but a fair number have more focused services.

Who are the e wallet providers in malaysia. Let s first investigate how many e money licenses have bnm granted so far. The country s central bank aims for malaysia to be a cashless nation by 2020 with mobile based payments being a core to the blueprint. Top up e wallet via visa or master debit card.

There is much ado about e wallets in malaysia recently. At present there are 35 companies and 5 banks with e money licenses from bnm all of which are governed by the financial services act 2013 and islamic financial services act 2013. This is not an exhaustive list of e wallets in malaysia. Thus currently the app has around 4 million users 3 million in malaysia and ranks as the 4th most used e wallet app in the country.

Top up e wallet via online baking like maybank cimb rhb uob etc.