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P O P U L A R E-PAYM E N T A P P S I N M A L AY S I A These are truly exciting times in Malaysia as we are experiencing a rise in the acceptance of cashless e-payments in lieu of traditional payment instruments and along with it a veritable cornucopia of e-payment platforms to choose from. Consumers are truly spoilt for choice with the array of e-payment options available in Malaysia with some sweetening the pot with cashbacks, extra bonuses and more. While there are a host of them available for our selection, not all of them are universally accepted by all merchants. It’s up to the consumer to get their homework done and choose the right e-payment platforms that would suit their needs or the merchants and services that they frequent the most. While when this article was written, there is no one e-payment platform that is universally accepted nationwide, here are selections of some of the most popular ones in Malaysia.
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BOOST
TOUCH ‘N GO EWALLET
GRAB
The Boost app is an e-wallet that you can use to pay a variety of merchants across Malaysia with many of them being dining establishments in lieu of using physical cash. Not only can you pay these retail outlets via Boost, you will also get access to a variety of vouchers that you can use or even share with non-Boost users too. You can even send or request money to others. The best part? It’s the easiest way to split a bill with friends!
This increasingly popular app lets you top up funds and pay your way through tolls with the app and purchase goods from a growing number of merchants. You’re also able to book movies, pay for flight tickets and more. Topping up the Touch ‘n Go ewallet app is exceptionally easy as you can link it to your bank account so that it auto reloads when your existing amount gets too low. Another perk is the ability to pay smartphone prepaid accounts straight from the phone.
The ubiquitous ride hailing app has expanded in recent years to encompass a host of other services under its umbrella. On top of getting you a ride to your intended destination, the Grab app now includes the ability to deliver food to your office or home via GrabFood, send parcels via GrabExpress, get groceries delivered from store to your front door via GrabFresh and, more importantly, the GrabPay mobile wallet that lets you easily pay for all these services with just a few presses of a button.
Unfortunately, the Touch ‘n Go eWallet doesn’t directly integrate with existing Touch ‘n Go cards and is so far a separate ‘wallet’ that doesn’t allow for balance interchanges between it and other cards. Another pickle is that it can’t be used at every tollgate or LRT stop, only a selected few in the Klang Valley.
FAVE
MAYBANK2U MY
The Fave app lets you get discounted offers at a vast variety of establishments for all manner of things from fun activities, dining, discounts on plane tickets and much more. Via the Fave app, you’re able to pay for your bills swiftly and easily and even get up to 30% cashback too. Even better, you’re able to send gifts in the form of vouchers for services under the Fave app umbrella to friends and family to make them feel extra special.
The juiced up Maybank2u MY app is amazingly intuitive and easy to use. On top of the obligatory ability to manage your finances with the bank, the Maybank2u MY app also features their QRPay feature that lets you scan a QR code to make peerto-peer cash transfers and make payments instantly. Another useful feature is their My Absolute e-Wallet that lets you pay and split bills as well as send and receive money wherever and whenever you are.
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