How people pay in Malaysia in 2026
Malaysia is moving fast from cash to digital. According to Bank Negara Malaysia, e-payment transactions grew 25% to 18.4 billion in 2025, and each Malaysian made 538 e-payments on average, up from 432 in 2024. The engine is the national payment network run by PayNet, which processed 8.44 billion transactions in 2025. Its DuitNow QR standard doubled to 3 billion transactions in the year, and almost three million QR touchpoints now link banks and e-wallets at the counter.
Online, shoppers pay with FPX and its successor DuitNow Online Banking/Wallets, cards and e-wallets. Touch 'n Go eWallet leads the wallet market with 26 million verified users, and Maybank's MAE app follows. Buy now, pay later is now mainstream and, since March 2026, regulated under the Consumer Credit Act 2025. E-commerce is large too: the Department of Statistics counted RM937.5 billion in e-commerce revenue in the first nine months of 2025. Cash still matters for small purchases, cash on delivery and convenience-store payments.
- 18.4 billion e-payment transactions in 2025 (Bank Negara Malaysia)
- 3 billion DuitNow QR transactions in 2025, double the 2024 volume (Bank Negara Malaysia)
- 26 million verified Touch 'n Go eWallet users in 2026 (Techwire Asia)
- 7.5 million active BNPL accounts at the end of 2025 (Bank Negara Malaysia via Malay Mail)
Payment by card in Malaysia
Malaysia has its own domestic debit scheme, MyDebit, run by PayNet next to Visa and Mastercard. Most local debit cards are co-badged, and debit use is rising quickly. Bank Negara Malaysia reports that debit card transactions grew 20.5% in 2025 while the average ticket fell to RM69, a sign that cards now pay for everyday purchases. Credit card transactions grew 10.9%, and contactless card payments reached 2 billion, up 20.3%. GlobalData estimates the card market at MYR408.5 billion in 2025, with debit cards at 41% of value.
MyDebit is the low-cost option for merchants. Its issuer interchange fee is capped at 0.10% or RM0.37 plus 0.001% per transaction, and PayNet says merchant rates can be up to 40% lower than other cards. MyDebit is also moving onto phones: AmBank became the first bank to support Apple Pay on MyDebit in April 2026. Online, international schemes still carry most card payments, so routing and acquirer choice matter. Our guide to how card networks work explains the trade-offs.
Card schemes in Malaysia
MyDebit
Domestic debit scheme
PayNet's national debit network, used with PIN or contactless at the point of sale and accepted at major chains, including over 1,000 Shell stations since March 2025.
0.10% issuer interchange cap on MyDebit transactions since January 2023, PayNet
Visa
International scheme
The leading international card brand in Malaysia, usually co-badged with MyDebit on debit cards and widely used for credit cards, online shopping and travel.
Mastercard
International scheme
The second international scheme, issued by most Malaysian banks on debit and credit cards and accepted at nearly every card terminal.
Contactless debit and credit cards
Contactless card
Tap-to-pay cards are the norm at Malaysian terminals, with a PIN required above RM250 for MyDebit contactless payments.
2 billion contactless payments in 2025, up 20.3% year on year, Bank Negara Malaysia
Credit card installment plans
Card installment
Banks such as Maybank, Public Bank and CIMB let shoppers split larger purchases into monthly installments at checkout, for example on Shopee for orders above RM500.
Payment by cash in Malaysia
Cash is losing ground but remains part of daily life, especially for small purchases, in rural areas and among older people. Bank Negara Malaysia says that demand for physical currency remains steady, with currency in circulation up 4.1% in 2025. At the same time, an Ipsos survey from May 2025 found that 60% of Malaysians had used non-cash payments in the previous three months, up from 55% in 2024. Paper is fading faster than banknotes: only 31.4 million cheques were issued in 2025, down 21.3%, according to Bank Negara Malaysia.
Online, cash takes two forms. Cash on delivery is still offered by marketplaces, though Shopee now limits it to orders under RM250 from selected sellers. Over-the-counter payments let shoppers pay for an online order in cash at a store, with Shopee accepting payments at 7-Eleven, 99 Speedmart and KK Mart between RM1.10 and RM1,500. Our article on the transition from cash to digital payments shows how markets like Malaysia make that shift.
Cash payment methods in Malaysia
Cash
Banknotes and coins
Ringgit banknotes and coins are still used for small purchases, at markets and hawker stalls, though e-payments now dominate by number.
4.1% growth in currency in circulation in 2025, Bank Negara Malaysia via Malay Mail
Cash on delivery
Cash on delivery
Paying the courier on arrival is still available on marketplaces, but often capped, for example at RM250 per order on Shopee.
7-Eleven over-the-counter payments
Convenience store payment
Shoppers choose cash at checkout and pay at a 7-Eleven counter with a transaction ID through Razer Cash. 7-Eleven is the largest convenience chain in Malaysia, with over 2,400 stores.
2,400+ 7-Eleven stores in Malaysia, Adyen
Convenience store payments at 99 Speedmart and KK Mart
Convenience store payment
Marketplaces also accept cash at other chains, such as 99 Speedmart and KK Mart for Shopee orders, within a RM1.10 to RM1,500 range.
Payment by bank transfer in Malaysia
Account-to-account payments are the backbone of Malaysian payments, and PayNet runs the rails. DuitNow Transfer moves money in real time using a phone number, ID number or business registration, and DuitNow QR brings the same instant payments to the counter. Bank Negara Malaysia counts 3 billion DuitNow QR transactions in 2025. PayNet added 681,250 QR acceptance points in the year and saw cross-border QR transactions grow 2.5 times to 29.7 million, with links to Singapore, Thailand, Indonesia, China and Cambodia.
Online, the reference method is FPX, which redirects shoppers to their bank to approve a payment. PayNet is moving checkout to DuitNow Online Banking/Wallets, which connects over 40 banks and e-wallets and lets shoppers pay from either. Maybank, the largest bank, moved its customers from FPX to DuitNow Online Banking/Wallets on March 31, 2025. Bills run on JomPAY. Mobile banking reached 25 million active users in 2025. Read our guide to QR code payments in Asia for the wider context.
Bank transfer methods in Malaysia
DuitNow QR
National QR scheme
The national QR standard, accepted by every participating bank and e-wallet with a single code at the merchant, and used for cross-border payments with neighboring countries.
3 billion DuitNow QR transactions in 2025, double the 2024 volume, Bank Negara Malaysia
FPX
Online banking
PayNet's bank redirect method for online checkout, which debits the shopper's account in real time; merchants connect through 27 acquiring banks and 13 third-party acquirers.
DuitNow Online Banking/Wallets
Pay by bank
PayNet's newer checkout method, which redirects shoppers to their bank or e-wallet app to approve the payment, and is available around the clock.
40+ banks and e-wallets connected, PayNet
DuitNow Transfer
Instant payment
Real-time transfers between banks and e-wallets using a mobile number, ID number or business registration number as a DuitNow ID, used for person-to-person and business payments.
8.44 billion transactions processed by PayNet in 2025, PayNet
JomPAY
Bill payment
National bill payment scheme that lets billers collect payments from customers of any participating bank with a single biller code.
42 banks from which JomPAY billers can collect, PayNet
Payment by installment and BNPL in Malaysia
Buy now, pay later has grown quickly in Malaysia, driven by e-commerce platforms. According to Bank Negara Malaysia's Financial Stability Review, BNPL reached 140.3 million transactions worth RM11.9 billion in the second half of 2025, with 7.5 million active accounts. Growth continued in 2026, with 172.1 million transactions worth RM14.7 billion in the first half. The market is concentrated: SPayLater holds 48.9%, TikTok PayLater 26.2%, Atome 17.3% and PayLater by Grab 4.5%, out of 16 providers.
Regulation arrived in 2026. The Consumer Credit Act 2025 came into force on March 1, 2026, creating the Consumer Credit Commission, which licenses BNPL providers. Licensing started on June 1, 2026 with a six-month transition, and affordability checks apply to credit limits above RM1,000. The market is also consolidating: Grab agreed to buy 60% of Atome for US$1.49 billion in September 2026, a deal pending approval. Card installment plans from banks remain common for larger purchases.
Installment and BNPL providers in Malaysia
SPayLater
Marketplace BNPL
Shopee's BNPL, offered by Monee Capital Malaysia, which bundles purchases into monthly repayments over 3 to 12 months, or up to 24 for selected users, with a 1.5% monthly processing fee.
48.9% share of the Malaysian BNPL market in 2026, The Edge Malaysia
TikTok PayLater
Social commerce BNPL
TikTok Shop's in-app credit, launched in Malaysia in October 2024, which spreads purchases over up to 12 months with limits of up to RM10,000.
26.2% share of the Malaysian BNPL market in 2026, The Edge Malaysia
Atome
BNPL
Regional BNPL provider that splits purchases into three interest-free payments online and in store, with an Atome card for use anywhere; Grab agreed to take control of it in 2026.
17.3% share of the Malaysian BNPL market in 2026, The Edge Malaysia
PayLater by Grab
Super app BNPL
Grab's pay-later service offering a monthly postpaid bill or 4, 8 or 12 installments for rides, food, online stores and in-store payments at DuitNow QR merchants.
4.5% share of the Malaysian BNPL market in 2026, The Edge Malaysia
Boost PayFlex
Wallet BNPL
A pay-later option inside the Boost app that lets users pay within 30 days or in installments at DuitNow QR merchants.
Bank card installments
Card installment
Credit card installment plans from banks such as Maybank, Public Bank and CIMB remain a common way to finance electronics and larger online orders.
Payment by digital wallet and X-Pay in Malaysia
E-wallets are part of everyday life in Malaysia, and most of them now work on the shared DuitNow QR network. Touch 'n Go eWallet is the clear leader, with 26 million verified users and 13.5 million monthly active users in 2026. Its operator TNG Digital, owned by CIMB and Ant International, reported revenue of RM707.28 million in 2025 and its first profit. Maybank's MAE app, part bank app and part wallet, had 10.7 million users in October 2025. An Ipsos study found that MAE appeals to close to half of e-wallet users, behind Touch 'n Go.
GrabPay, Boost and ShopeePay complete the field, each tied to a wider ecosystem. Bank Negara Malaysia reports that the average e-money transaction rose to RM43 in 2025. Phone wallets matter too. Apple Pay has worked with Malaysian Visa cards since 2022, and now with MyDebit, where PayNet charges an extra 0.10% issuer fee on OEM wallet transactions from July 1, 2026. See our X-Pay explainer for how these wallets work.
Digital wallets and X-Pay in Malaysia
Touch 'n Go eWallet
QR wallet
Malaysia's largest e-wallet, used for QR payments, tolls, parking, transport, bills and transfers, and accepted at over 2 million merchant touchpoints.
26 million verified users in 2026, Techwire Asia
MAE by Maybank
Bank wallet
Maybank's mobile banking and e-wallet app, used for transfers, QR payments and bill payments, with a wallet balance of up to RM10,000.
10.7 million MAE users in October 2025, Fintech News Malaysia
GrabPay
Super app wallet
Grab's e-wallet, regulated by Bank Negara Malaysia, used for rides, food delivery, in-store purchases and mobile reloads, with GrabRewards points on spend.
Boost
QR wallet
Axiata's e-wallet for QR payments, bills and prepaid reloads, with pay-later and insurance features; Boost also holds 60% of Boost Bank, a digital bank launched with RHB.
ShopeePay
Marketplace wallet
Shopee's wallet for online and offline purchases, with a balance limit of up to RM9,999 for verified users, and accepted at 7-Eleven stores.
Apple Pay
Mobile wallet
Apple's wallet works with Malaysian Visa, Mastercard and now MyDebit cards for tap-to-pay and online payments, and supports bank installment offers.
April 2026 first bank to support Apple Pay on MyDebit, AmBank, PayNet
Payments in Malaysia: FAQ
What is DuitNow QR?
DuitNow QR is Malaysia's national QR payment standard, run by PayNet. A merchant shows one code that every participating bank and e-wallet app can scan. It processed 3 billion transactions in 2025, double the 2024 volume, and works across borders with Singapore, Thailand, Indonesia, China and Cambodia.
Is FPX being replaced in Malaysia?
PayNet is moving online checkout from FPX to DuitNow Online Banking/Wallets, which adds e-wallets to bank payments and connects over 40 banks and e-wallets. Maybank switched its customers on March 31, 2025. FPX is still listed by PayNet, so merchants often see both.
How is BNPL regulated in Malaysia?
The Consumer Credit Act 2025 came into force on March 1, 2026. BNPL providers must be licensed by the new Consumer Credit Commission, with licensing from June 1, 2026 and a six-month transition. The market had 7.5 million active accounts at the end of 2025.
Which e-wallet is most popular in Malaysia?
Touch 'n Go eWallet, with 26 million verified users and 13.5 million monthly active users in 2026. Maybank's MAE ranks second in the Ipsos 2025 e-payment study, followed by GrabPay, Boost and ShopeePay.
Accept local payments in Malaysia with NORBr
In Malaysia, gateways such as iPay88, Fiuu and Billplz bundle FPX, DuitNow QR, cards and e-wallets, while banks handle card acquiring. A PSP, PayFac, ISO or ISV should check FPX and DuitNow coverage, e-mandates and ringgit settlement.
With NORBr, you can connect any acquirer, PSP or local provider that offers FPX, DuitNow QR, Touch 'n Go eWallet, MyDebit cards and BNPL such as SPayLater and Atome. Some are already in our connector catalog; Mapper™ gets the others live in days, and Smart Checkout shows each shopper the right methods. Explore the other #PayWorldTour guides.
Local payment providers in Malaysia
iPay88
Payment gateway
Kuala Lumpur-based payment gateway of the NTT DATA group, serving online and in-store merchants in Malaysia and Southeast Asia with a wide set of local methods.
Covers: Cards, FPX, DuitNow QR, Touch 'n Go eWallet, Boost, GrabPay, ShopeePay, Atome
Fiuu
Payment gateway
Malaysian payment gateway formerly known as Razer Merchant Services (and before that MOLPay), serving online and offline merchants with local methods and cash payments at convenience stores.
Covers: Cards, FPX, DuitNow QR, Touch 'n Go eWallet, Boost, GrabPay, ShopeePay, 7-Eleven (Razer Cash)
Billplz
Payment gateway
Malaysian payment gateway popular with SMEs, educators and non-profits for collecting payments by bill links, with a strong focus on FPX online banking.
Covers: FPX, Cards, DuitNow QR
Curlec by Razorpay
PSP
Kuala Lumpur-based payment provider acquired by Razorpay in 2022, specialized in recurring payments and direct debit mandates as well as one-off online payments.
Covers: Cards, FPX, DuitNow QR, Direct debit (e-mandate)
2C2P
Payment gateway
Southeast Asian payment platform with a Malaysian presence, serving enterprise merchants such as airlines, retailers and digital businesses with local and international methods.
Covers: Cards, FPX, DuitNow QR, Touch 'n Go eWallet, Boost, GrabPay, ShopeePay
