[PRESS RELEASE] Non-Cash Economy & The Role of E-wallets

The findings from the study reveal:

•    Non-cash payment methods have become the predominant choice among Malaysians
•    Digital payments go mainstream across ages with the young setting the pace
•    E-wallets become part of daily life as Malaysians pay cashless from meals to bills
•    E-wallets use stay steady as Malaysians streamline their choices
•    Touch N’ Go remains the most used channel, followed by MAE

Arun Menon, Country Manager, Ipsos Malaysia mentions:  

Malaysia’s digital payment landscape continues to expand in step with the nation’s broader digital economy push. The total value of e-money transactions reached RM 21.5 billion in May 2025, up 70% year-on-year, driven by Bank Negara’s cashless initiatives and the wider rollout of DuitNow QR among merchants. This growth underscores how digital payments have become a key part of everyday financial life.

Our latest survey shows that e-wallet usage remains strong, with over half of Malaysians opting for digital payments. While daily and weekly use has eased slightly, monthly and occasional usage have increased, showing steady reliance. About 54% of users continue to use e-wallets for daily transactions across dining, retail, tolls and parking, while online purchases, bill payments and money transfers reflect growing trust in digital convenience. Touch ’n Go continues to lead the e-wallet market by a significant margin. MAE has consolidated its role as a leading competitor, retaining second position and appealing to close to half of all users.

Overall reliance on e-wallets remains steady, reflecting Malaysians’ growing trust in digital payments and the country’s shift toward a cashless economy. As usage expands, strong safeguards around security, data protection and system reliability remain essential. Bank Negara Malaysia’s regulatory role will be key to keeping the ecosystem safe, inclusive and resilient.”