Malaysia Prepaid Card and Digital Wallet Markets and Investment Opportunities Report 2022: Market is Expected to Record a CAGR of 14.4{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73}, Increasing from $6.06 Billion in 2022 to $10.40 Billion by 2026 – ResearchAndMarkets.com

DUBLIN–(Enterprise WIRE)–The “Malaysia Prepaid Card and Electronic Wallet Small business and Expense Options Databook – Market Dimensions and Forecast, Buyer Angle & Conduct, Retail Shell out” report has been additional to ResearchAndMarkets.com’s featuring.

The pay as you go card market place (value terms) in Malaysia elevated at a CAGR of 9.4{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} during 2017-2021. In excess of the forecast interval of 2022 to 2026, the sector is envisioned to record a CAGR of 14.4{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73}, expanding from US$6.06 billion in 2022 to attain US$10.40 billion by 2026.

Inspite of staying dollars dominated place, Malaysia has made major development from money to non-money payments. Notably, the substantial adoption of card payments, primarily supported by the growing banked populace and rising merchant acceptance with the introduction of a cap on interchange charges, has even further presented the advancement of the pay as you go card market place in Malaysia.

Millennials in the country performed a sizeable function in the growth of the sector. Almost 21{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} of the millennial inhabitants employs the mobile payments possibility to spend for community transport. Notably, the significant adoption of contactless payments engineering by retailers has boosted the consumers to shift toward pay as you go instruments in the place. Extra than 55{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} of the millennial population depends on cards to pay out for their groceries. All these offered a shift in direction of contactless paying and substantial adoption of the pay as you go card by shoppers in Malaysia.

Notably, the federal government steps amidst pandemic, this kind of as lockdown and social distancing constraints, have closed brick-and-mortar outlets, influencing consumer investing, which has additional decreased card payments in Malaysia. Nevertheless, vaccination generate and improved economic problems have positively impacted card payments in the state.

Malaysian electronic wallet providers are developing partnerships with world wide payments firms to launch prepaid cards

With the enhance in the digitally indigenous millennials in the place, Malaysian digital wallet suppliers are entering into strategic partnerships with engineering companies to get a popular current market share in the pay as you go market place.

  • In December 2021, Increase, an e-wallet service provider and also the fintech arm of Axiata Electronic partnered up with world-wide technological innovation and payments company, Mastercard, to present a assortment of ground breaking payment solutions to Malaysian and Indonesian individuals. Out of these options, the 1st to hit the market place will be a Mastercard pay as you go card.
  • The Improve Mastercard prepaid card will enable Boost customers to make transactions in a safe and secured way in Malaysia, Indonesia, and globally the place Mastercard is accepted.
  • The partnership will involve the introduction of SME money solutions in each international locations. Notably, this will support to broaden the services provided to modest micro-retailers by the platforms this kind of as Improve Biz and Enhance Credit score
  • Likewise, in August 2021, Kiplepay Sdn Bhd (“Kiple”), a wholly-owned subsidiary of Eco-friendly Packet Berhad, collaborated with the payment technology company Visa to launch a pay as you go card for Kiplepay users in Malaysia.

Malaysian banks are collaborating with electronic payment services companies to enter the pay as you go market

The banking institutions are getting into the pay as you go card market place with unique solutions so as to attract the electronic natives of the region and to cater to their evolving monetary needs.

  • Affin Bank Berhad, Malaysia has collaborated with digital payment company and cellular virtual community operator company Merchantrade Asia Sdn Berhad to provide a prepaid e-wallet card to the industry in October 2021.
  • This is a multi-currency pay as you go card that will permit the shoppers to transact money globally in 20 foreign currencies without having any cross-forex charges.

Pay as you go card vendors are concentrating to get hold of electronic banking licenses to extend current market share

The increasing smartphone penetration and improved net connections are encouraging digital gamers to enter the banking space.

  • In June 2021, BigPay, the subsidiary of AirAsia, has filed an software to the Central Financial institution of Malaysia to provide folks and micro-enterprises with whole-fledged monetary solutions.
  • BigPay has partnered with Malaysian Industrial Improvement Finance Bhd (MIDF), a device of the country’s premier asset supervisor Permodalan Nasional Bhd, private fairness organization Ikhlas Funds and a overseas conglomerate with fintech know-how. This will assist the enterprise in sanctioning the application in its favor.
  • The pay as you go card and e-wallet supplier released various controlled money merchandise in Malaysia, which involve e-cash, international remittance prepaid cards, and micro-coverage, and many others.
  • BigPay is setting up to launch new solutions such as credit, discounts, and freelancer-centered services with the help of the electronic banking license.

Scope

Malaysia Electronic Wallet Current market Dimensions and Forecast

  • Transaction Price Craze Examination
  • Transaction Quantity Pattern Investigation
  • Normal Price per Transaction

Malaysia Digital Wallet Marketplace Measurement and Forecast by Vital Segments

  • Retail Shopping (Value, Volume, Avg. Benefit)
  • Travel (Worth, Quantity, Avg. Price)
  • Entertainment and Gaming (Price, Quantity, Avg. Worth)
  • Cafe (Value, Volume, Avg. Benefit)
  • Recharge and Monthly bill Payment (Value, Volume, Avg. Benefit)

Malaysia Pay as you go Card Marketplace Current market Attractiveness

  • Load Price Trend Investigation
  • Transaction Worth Craze Examination
  • Transaction Volume Development Assessment
  • Typical Price for every Transaction
  • Number of Playing cards

Market place Share Examination by Useful Attributes – Open up Loop vs. Shut Loop, 2016 – 2025

Marketplace Share Investigation by Pay as you go Card Groups

Malaysia Open up Loop Prepaid Card Potential Progress Dynamics, 2016 – 2025

  • Transaction Worth Trend Analysis
  • Transaction Volume Pattern Analysis
  • Ordinary Benefit for each Transaction
  • Quantity of Playing cards

Malaysia Closed Loop Pay as you go Card Potential Progress Dynamics, 2016 – 2025

  • Transaction Value Trend Evaluation
  • Transaction Volume Pattern Analysis
  • Regular Price for every Transaction
  • Range of Cards

Malaysia Pay as you go Card Shopper Use Tendencies

  • By Age Group
  • By Cash flow Group
  • By Gender

Malaysia Common Function Pay as you go Card Market place Sizing and Forecast

Malaysia Present Card Market place Sizing and Forecast

Gift Card Industry Dimension and Forecast by Purposeful Attribute

  • By Open Loop Gift Card
  • By Closed Loop Gift Card
  • By Retail Purchaser Segment
  • By Company Client Section

Present Card Marketplace Share Assessment by Retail Classes

Gift Card Market place Share Investigation by Gifting Occasion

Reward Card Sector Share Examination by Purchase Spot

Malaysia Leisure and Gaming Prepaid Card Sector Size and Forecast

Malaysia Teen and Campus Prepaid Card Sector Sizing and Forecast

Teenager and Campus Pay as you go Card Market place Dimension and Forecast by Purposeful Attribute

  • By Open Loop Teenager and Campus Pay as you go Card
  • By Shut Loop Teen and Campus Prepaid Card

Malaysia Enterprise and Administrative Expenditure Prepaid Card Market place Measurement and Forecast

  • By Modest Scale Company Phase
  • By Mid-Tier Business enterprise Phase
  • By Company Company Segment
  • By Authorities Section

Malaysia Payroll Pay as you go Card Market place Dimensions and Forecast

  • By Tiny Scale Business enterprise Section
  • By Mid-Tier Business Section
  • By Enterprise Organization Phase
  • By Govt Phase

Malaysia Food Pay as you go Card Current market Size and Forecast

  • By Little Scale Business enterprise Segment
  • By Mid-Tier Business enterprise Section
  • By Organization Business Section
  • By Federal government Section

Malaysia Travel Foreign exchange Prepaid Card Sector Sizing and Forecast

  • By Retail
  • By Small Scale Business enterprise Section
  • By Mid-Tier Small business Phase
  • By Organization Business enterprise Segment
  • By Governing administration Segment

Malaysia Transit and Tolls Prepaid Card Sector Dimension and Forecast

Malaysia Healthcare and Wellness Prepaid Card Market place Dimensions and Forecast

Malaysia Social Protection and Other Govt Profit Packages Pay as you go Card Market Size and Forecast

Malaysia Fuel Prepaid Playing cards Market Dimensions and Forecast

Malaysia Utilities, and Other Prepaid Cards Industry Sizing and Forecast

For more information about this report stop by https://www.researchandmarkets.com/r/ew1psf

Maria Flores

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