This shows the top types of e-payment tools used by Malaysians, ranked by the numberof transactions from Jan to Sept 2024.
E-money, debit cards and credit cardssaw a growth in popularity, while the usageof cheques and charge cards declined.
Click on each icon to see more details:
Debit card
Credit card
E-money
Charge Card
Cheque
QUICK FACTS
E-money
Definition: A payment instrument that contains monetary value that is paid in advance by the user to the e-money issuer. Examples of e-money are e-wallets, prepaid cards and online banking apps that use Quick Response (QR) codes on mobile phones. No. of transactions
Jan to Sept 2024 = 3.65 billion
Changes (2019 vs 2023)
2019 - 2.09 billion
2023 - 4.02 billion)
Difference = +1.93 billion (92.4%)
Source: Bank Negara Malaysia
QUICK FACTS
Debit card
Definition: A payment card where the transaction amount is deducted directly from the cardholder's bank account upon authorisation. In Malaysia, anyone having a bank account with a domestic bank and has an ATM card can make payments using the card, as it doubles as a debit card. No. of transactions
Jan to Sept 2024 = 1.45 billion Changes (2019 vs 2023)
2019 - 0.371 billion 2023 - 1.6 billion
Difference = +1.23 billion (330.9%)
Source: Bank Negara Malaysia
QUICK FACTS
Credit card
Definition: A payment card that enables its holder to buy goods and services with a credit line given by the credit card issuer and the amount will be settled at a later date. Cardholders are billed on a monthly basis and would have to bear finance charges (interest) on the outstanding amount if payment is not made by the due date. No. of transactions
Jan to Sept 2024 = 678.4 million Changes (2019 vs 2023)
2019 - 510.1 million
2023 - 825.2 million
Difference = +315.1 million (61.8%)
Source: Bank Negara Malaysia
QUICK FACTS
Cheque
Definition: A form of written order directing a bank to pay money to the beneficiary. Based on the market practices in Malaysia, a cheque is generally valid for six months after the date of issue. No. of transactions
Jan to Sept 2024 = 30.1 million Changes (2019 vs 2023)
2019 - 84.4 million
2023 - 40.9 million
Difference = -43.5 million (51.6%)
Source: Bank Negara Malaysia
QUICK FACTS
Charge card
Definition: Similar to a credit card. However, charge card holders must settle their outstanding amount in full by the due date every month. Since charge cards are often associated with prestige, the fees are generally higher than credit cards. Charge cards generally offer more privileges. No. of transactions
Jan to Sept 2024 = 1.9 million Changes (2019 vs 2023)
2019 - 6.2 million
2023 - 6.0 million
Difference = -0.2 million (-3.6%)
Source: Bank Negara Malaysia
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Transcript
This shows the top types of e-payment tools used by Malaysians, ranked by the numberof transactions from Jan to Sept 2024.
E-money, debit cards and credit cardssaw a growth in popularity, while the usageof cheques and charge cards declined.
Click on each icon to see more details:
Debit card
Credit card
E-money
Charge Card
Cheque
QUICK FACTS
E-money
Definition: A payment instrument that contains monetary value that is paid in advance by the user to the e-money issuer. Examples of e-money are e-wallets, prepaid cards and online banking apps that use Quick Response (QR) codes on mobile phones. No. of transactions Jan to Sept 2024 = 3.65 billion Changes (2019 vs 2023) 2019 - 2.09 billion 2023 - 4.02 billion)
Difference = +1.93 billion (92.4%)
Source: Bank Negara Malaysia
QUICK FACTS
Debit card
Definition: A payment card where the transaction amount is deducted directly from the cardholder's bank account upon authorisation. In Malaysia, anyone having a bank account with a domestic bank and has an ATM card can make payments using the card, as it doubles as a debit card. No. of transactions Jan to Sept 2024 = 1.45 billion Changes (2019 vs 2023) 2019 - 0.371 billion 2023 - 1.6 billion
Difference = +1.23 billion (330.9%)
Source: Bank Negara Malaysia
QUICK FACTS
Credit card
Definition: A payment card that enables its holder to buy goods and services with a credit line given by the credit card issuer and the amount will be settled at a later date. Cardholders are billed on a monthly basis and would have to bear finance charges (interest) on the outstanding amount if payment is not made by the due date. No. of transactions Jan to Sept 2024 = 678.4 million Changes (2019 vs 2023) 2019 - 510.1 million 2023 - 825.2 million
Difference = +315.1 million (61.8%)
Source: Bank Negara Malaysia
QUICK FACTS
Cheque
Definition: A form of written order directing a bank to pay money to the beneficiary. Based on the market practices in Malaysia, a cheque is generally valid for six months after the date of issue. No. of transactions Jan to Sept 2024 = 30.1 million Changes (2019 vs 2023) 2019 - 84.4 million 2023 - 40.9 million
Difference = -43.5 million (51.6%)
Source: Bank Negara Malaysia
QUICK FACTS
Charge card
Definition: Similar to a credit card. However, charge card holders must settle their outstanding amount in full by the due date every month. Since charge cards are often associated with prestige, the fees are generally higher than credit cards. Charge cards generally offer more privileges. No. of transactions Jan to Sept 2024 = 1.9 million Changes (2019 vs 2023) 2019 - 6.2 million 2023 - 6.0 million
Difference = -0.2 million (-3.6%)
Source: Bank Negara Malaysia