In this article, admin will list some of the most used e-Wallets in Malaysia based on the rating provided by users on the Google Play Store and the features of the e-wallet.
If you don't have any idea about what e-wallet is, then you can read the previous article by simply clicking here.
1. Touch ‘n Go
Touch ‘n Go’s e-Wallet was mainly introduced to make toll payments convenient. It’s in fact, one of the easiest ways to pay for tolls in Malaysia.
To use the service, users must download the app, create an account and register their contact number. A six-digit pin is required to perform transactions. The “PayDirect” feature allows users to link their Touch ‘n Go account with the e-wallet to pay for tolls immediately.
For top-ups, a minimum of RM10 and a maximum of RM200 or RM500 can be reloaded into the wallet depending on its type.
However, the money reloaded cannot be withdrawn, unless the user’s account has been terminated.
Touch ‘n Go Card Types
Touch n' Go: A commonly used card, priced at RM10.60 (GST included). Card price does not include value, you will need to add card value separately.
Touch n' Go ZING: Touch ‘n Go Card with auto-reload feature which is reloaded from your Maybank Credit Card whenever your credit balance falls below RM50 so that you will never run out of credit.
Tesco Clubcard: A TnG card with Tesco Clubcard features. Can be used for purchase fees at Tesco and other participating stores.
Kad Watson VIP: A 2-in-1 Card that offers points for Watsons VIP members, and other benefits.
Photocard: You can customize the graphics of this card with your pictures or other pictures. Priced at RM21.20, the card is on sale at Bangsar South TnG Customer Service Center, TnG center at NU Central and TnG center at Wisma Nufri Johor Bahru.
Payment method – QR Code
Notable merchants: Watson, MPH Bookstores, TESCO, Dunkin Donuts, Baskin Robbins and Vitacare Pharmacy.
Boost is a dedicated e-wallet which allows users to make payments without the hassle of carrying physical cash. It can be used almost anywhere, even in night markets.
Once the app has been downloaded onto one’s smartphone, one can reload money, scan the Quick Response (QR) code and pay for their product or service. The payment can then be confirmed by entering the Boost 6-digit transaction pin.
More importantly, it’s been working with utilities like Telekom Malaysia and SYABAS to all in-app bill payments. It’s also expanding on a partnership to allow users to pay for parking in the greater KL area.
Boost also has a partnership with Shell stations, allowing users to pay for petrol at over 800 stations around the country. However, this still requires the user to scan the QR code at the counter.
Payment method – QR Code, In-app payments
Notable merchants 99 Speedmart, TM, SYABAS, DBKL Parking
Dengan GrabPay, pengguna boleh tambah nilai e-wallet dengan mudah dan mula membayar Grab rides, GrabFood dan item dalam kedai.
GrabPay tidak memerlukan PIN untuk melakukan sebarang transaksi. Tambahan lagi, setiap urusniaga membolehkan pemilik akaun mendapatkan mata yang boleh digunakan untuk khidmat Grab ride secara percuma serta diskaun GrabFood.
Grab e-Wallet membenarkan tambah nilai sekurang-kurangnya RM10 dan maksimum RM500 atau RM1,500. Duit yang telah dimasukkan ke dalam wallet tidak boleh dikeluarkan pada sebarang kos.
GrabPay juga mempunyai perkongsian dengan MayBank di mana anda dapat menggunakannya pada mana-mana peniaga yang menerima MayBank Pay.
Harus diingat bahawa walaupun GrabPay tersedia di seluruh Asia Tenggara, ia tidak mengubah kredit kepada mata wang tempatan. Hal ini bermaksud pelanggan perlu tambah nilai kredit mereka secara manual semasa melancong.
Payment Methods- QR Code, In-app payments
Notable merchants : TeaLive, Inside Scoop, Manhattan Fish Market
VCash is a mobile wallet powered by DiGi.Com Bhd. However, users can use the wallet with any Malaysian telecommunications company, as long as they have a Malaysian phone number.
In order to use VCash, users must download the app and deposit money into their e-wallet through Digi stores, online banking methods or JomPay. They can then scan the QR code and make payment. For VCash, a six-digit pin or fingerprint is required to perform transactions. Bill splitting is allowed to make group payments.
Depending on the wallet type, a minimum of RM10 or a maximum of RM500, RM2,500 or RM5,000 can be reloaded into the wallet.Premium wallet users can withdraw money from their accounts at a charge of RM1 per withdrawal.
Payment methods – QR Code
Notable merchants : Mydin, Astro Go Shop, Kedai Mesra Petronas
5. Razer Pay
Razer Pay claims to be an e-Wallet designed for youth and millennials. It was introduced specifically to make gaming, entertainment and cinema purchases.
Users can start using the e-wallet by downloading the app and topping up their wallet with funds, or by linking it to their preferred credit or debit card. No pin is required to perform transactions.
A minimum of RM10 or a maximum of RM3,000 can be reloaded into the wallet. Users can also top up at physical merchant stores like 7-Eleven. Users can withdraw cash from their e-Wallet through their bank account at any point in time.
This e-Wallet also plans to improve the convenience it provides through a collaboration with U Mobile, which would increase the reach of its network and thus make it one of the largest e-Wallet providers in Malaysia.
Payment methods – QR Code
Notable merchants: 7 Eleven, Starbucks
6. Samsung Pay
Unlike the other e-Wallets in this comparison, Samsung Pay doesn’t actually store any funds. Instead, it stores payment card information and acts as a sort of additional layer between the two.
What is unique here is its proprietary MFT technology. This allows a smartphone or smartwatch to mimic the magnetic strip on a credit card, allowing it to work without any additional investment from merchants.
MFT also allows Samsung Pay to support loyalty cards like those from Aeon; meaning that those can also be stored within the app.
The only drawback is that Samsung Pay is confined to selected Samsung branded smartphones and smartwatches. MFT support also only appears on the highest end Samsung smartphones, leaving the more affordable devices with only NFC support. Although, nothing says living in the future like paying for lunch with your watch.
Payment method- Magnetic Field Transfer, NFC
Notable merchants: Anywhere that supports credit card swiping
PayPal is the grandfather of e-wallets. Existing from even before the term was coined.
Being an international level organisation means that PayPal can be used across borders and will even convert between currencies for payments.
It also allows users to cash out by transferring their funds to a local bank account. Buyer protection for PayPal is also considered to be one of the best in the world; although this occasionally comes at the expense of the merchants.
PayPal’s main problem is the substantially higher fees it charges on money transfers. The company has a 7% cut on international remittance; which is higher than some people would like to deal with.
Payment methods – Online payments. Offline payments exists in select countries
Notable merchants: Almost every online store
MaybankPay had a far quieter release than any of the other e-wallets on this list. Overall, it doesn’t quite have as many bonus features as the competition; focusing solely on being able to provide an e-wallet to support Maybank’s suite of products.
However, the bank has an agreement with Grab to the interoperability between MaybankPay and Grab Pay. Allowing the two e-Wallets to work with the same QR codes.
MaybankPay is also one of the few e-wallets in Malaysia to allow users to store their Maybank credit card information.
sing the mobile app in the place of having to keep a physical card. This puts it in direct competition with Samsung Pay. Although it has the advantage of being available on all Android and iOS phones (instead of being limited to a handful of Samsung branded ones).
Payment method – QR Code
Notable merchants: Jaya Grocer, TGV cinemas, Mydin, Watson, McDonalds
Created by AirAsia, the BigPay service is split across a Mastercard-backed prepaid card and an e-wallet. The benefit of this is that it users are not confined to only using the mobile app to pay for things.
Instead, being free to use the prepaid card like a credit card. Complete with the option to make online purchases and withdrawing funds from ATMs.
BigPay also allows users to earn Big Loyalty Programme points; which is also the loyalty programme for AirAsia flights. Unfortunately, this comes with the caveat that the points are not earned for domestic transactions.
Payment method – QR code, NFC, Prepaid card
Notable merchants: AirAsia
Petronas’ homegrown e-wallet brings an interesting twist to the technology. It uses GPS location tracking in order to facilitate payments.
Basically, the app will detect that you are at a participating Petronas station and allow you to begin making payments.
This is a completely unique payment system, and one that is unfortunately a closed ecosystem. The system is limited to only a small selection of Petronas stations at the moment. On the other hand, it is extremely useful for those who would rather not swipe their credit cards at petrol stations.
Payment Methods – GPS location tracking
Notable merchants: Petronas
11. AEON Wallet
This is not necessarily a traditional e-wallet, being mainly designed to work with the AEON Members Plus Visa card. The idea is that the AEON Wallet complements the prepaid card by allowing users to access its funds and loyalty programme without having to carry the card around.
However, this also means that it benefits from being an e-Wallet with a Visa-backed prepaid card. Including the ability to use the funds in non-AEON affiliated stores and for online shopping.
Payment methods – QR code, Visa-back prepaid card
Notable merchants: AEON affiliated stores