Malaysia Cards and Payments - Opportunities and Risks to 2026

Malaysia Cards and Payments - Opportunities and Risks to 2026

Summary

GlobalData’s ‘Malaysia Cards and Payments - Opportunities and Risks to 2026' report provides detailed analysis of market trends in the Malaysian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, credit transfer, cards, mobile wallets, cheques, and direct debits during the review-period (2018-22e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2022e-26f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The report provides top-level market analysis, information and insights into the Malaysian cards and payments industry, including -

• Current and forecast values for each market in the Malaysian cards and payments industry, including debit, credit, and charge cards
• Detailed insights into payment instruments including cash, credit transfer, cards, mobile wallets, cheques, and direct debits. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Malaysian cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Malaysian cards and payments industry.

• The Malaysian government is taking steps to promote cashless payments in the country. In July 2022, the government-owned national payment network Payments Network Malaysia (PayNet) partnered with digital wallet provider Touch ‘n Go eWallet to launch the Mai Kita Cashless campaign, enabling Touch ‘n Go eWallet and DuitNow QR users to get cashback of MYR5 ($1.20) on transactions of MYR10 ($2.40) and above. Meanwhile, in March 2022, the government introduced cashless payment options for all government agencies, allowing citizens to pay for government taxes and fees electronically.
• In July 2022, the central banks of five countries - Malaysia, the Philippines, Singapore, Thailand, and Indonesia - agreed to link their payment systems to provide seamless transactions for travelers within the Southeast Asian region. The agreement will allow consumers to make purchases by using their respective country’s mobile app instead of a local app to make QR code payments. Currently, the integration is incomplete as only three countries (Malaysia, Indonesia, and Thailand) are interconnected and have enabled cross-border payments via QR codes. Similarly, Singapore and Malaysia have a deal to link PayNow and DuitNow.
• Alternative payments are gradually gaining prominence in Malaysia. Apple Pay was launched in Malaysia in August 2022. The solution enables users to make in-store, online, and in-app payments. Users can store their debit, credit, and store card details within Apple Pay and use them to make payments. For in-store payments, users hold the Apple device near the payment terminal and authenticate the transaction via Touch ID, Face ID, or passcode. Apple Pay also allows online and in-app payments, which are authenticated using the same methods. In Bahrain, Apple Pay is supported by banks including AmBank, Maybank, and Standard Chartered.

• Make strategic business decisions, using top-level historic and forecast market data, related to the Malaysian cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Malaysian cards and payments industry.
• Assess the competitive dynamics in the Malaysian cards and payments industry.
• Gain insights into marketing strategies used for various card types in Malaysia.
• Gain insights into key regulations governing the Malaysian cards and payments industry.