12 Most Used Malaysian E-Wallet List

In recent years, the use of digital wallets or e-wallets in Malaysia has grown rapidly. Thanks to their convenience, security, and attractive promotions, e-wallets have become one of the preferred payment methods for daily transactions. From paying for transportation, online shopping, to dining at restaurants, everything can now be done with just one app on your phone.

Malaysia offers a variety of e-walletsoptions, each with its own features and advantages. Some are integrated with transportation services and e-commerce, while others offer cashback, reward points, or even prepaid cards for international transactions.

In this article, we will discuss the most popular e-wallets in Malaysia and the key features offered by each platform. So, stay tuned until the end!

List of E-Wallets in Malaysia 

Here is a list of e-wallets in Malaysia, ranked by popularity and user base, with more detailed explanations:

1. Touch 'n Go E-Wallet

Touch 'n Go E-Wallet is the most popular e-wallet in Malaysia, with millions of users relying on it for various transactions. Originally known as an electronic toll payment system, it has now expanded into a versatile payment method for public transportation, parking, online shopping, restaurants, and supermarkets. This e-wallet also offers Go+, allowing users to easily invest, as well as services like loans, insurance, and a "PayLater" feature that simplifies transactions.

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2. GrabPay

GrabPay is part of the Grab super app ecosystem, which includes transportation services, food delivery, and online shopping. With GrabPay, users can pay for Grab rides, food from GrabFood, and shop at various merchants that accept QR code payments. This e-wallet also offers cashback, GrabRewards, and a "PayLater" feature, allowing users to make installment payments without a credit card.

3. Boost

Boost is one of the largest local e-wallets in Malaysia, offering a variety of attractive features. Besides being used for payments at restaurants, retail stores, and digital services, Boost also allows users to pay electricity, water, and phone bills. One of its strengths is the cashback system and BoostUP Rewards, which give points for every transaction that can be redeemed for various rewards or discounts.

4. BigPay

BigPay is an e-wallet developed by AirAsia, offering a unique feature in the form of a prepaid Visa card that can be used for both domestic and international transactions. This e-wallet is especially popular among frequent travelers due to its competitive currency conversion rates and low international transaction fees. Additionally, BigPay also features domestic and international money transfers, as well as expense tracking to help users manage their finances.

5. MAE (Maybank E-Wallet)

MAE is an e-wallet from Maybank that offers a more flexible digital financial experience. Users can link MAE to their Maybank account or use it independently. Besides the QR Pay feature at various merchants, MAE also has a "Tabung" feature, helping users to save automatically with customizable settings. Its instant fund transfer feature to various banks also makes MAE one of the most practical e-wallets in Malaysia.

6. Alipay

AliPay is a Chinese e-wallet available in Malaysia, widely used by Chinese tourists and locals who transact with merchants accepting AliPay. This e-wallet offers high security and features for cross-border payments, making global transactions easier. AliPay also supports various financial services like micro-insurance and investments through its platform.

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7. WeChat Pay

WeChat Pay is a digital payment service that is part of the WeChat app ecosystem. In Malaysia, this e-wallet is frequently used by Chinese tourists and locals for cashless transactions at merchants supporting QR code payments. One of its key advantages is its direct integration with the WeChat app, allowing for instant payments without switching apps.

FavePay is an e-wallet focused on payments at restaurants, cafes, beauty salons, and retail stores. One of its main attractions is the higher cashback compared to other e-wallets, making it a favorite among consumers looking to save more. FavePay also integrates with credit and debit cards, allowing for transactions without the need to top up the balance first.

FavePay adalah e-wallet yang berfokus pada pembayaran di restoran, kafe, salon kecantikan, dan toko ritel. Salah satu daya tarik utama FavePay adalah fitur cashback yang lebih tinggi dibandingkan e-wallet lainnya, sehingga banyak digunakan oleh konsumen yang ingin menghemat lebih banyak. FavePay juga memiliki fitur integrasi dengan kartu kredit dan debit, memungkinkan transaksi tanpa perlu mengisi saldo terlebih dahulu.

9. Aeon Wallet

Aeon Wallet is an e-wallet from AEON Credit Service, making transactions at AEON Mall and various AEON partner merchants easier. Besides QR code payments, this e-wallet is also integrated with AEON's loyalty points system, allowing users to collect and redeem points when shopping.

10. PrestoPay

PrestoPay is an e-wallet linked to the PrestoMall online shopping platform. It is designed to simplify e-commerce transactions and offers various discounts and cashback for users shopping on PrestoMall. Additionally, PrestoPay can also be used to pay bills and for various digital services.

11. KiplePay

KiplePay is widely used in university campuses and residential communities in Malaysia. This e-wallet allows payments at university canteens, campus transport, and various community services. It also offers payment solutions for SMEs and small businesses looking to adopt digital payments.

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12. TaPay

TaPay is a local e-wallet more commonly used in smaller cities and local business communities. This e-wallet supports QR code payments at various merchants and offers features such as money transfers and bill payments. TaPay also frequently collaborates with local governments to support the digitalization of local businesses.