The popularity of digital wallets or e-wallets is surging in Malaysia, especially during the Movement Control Order due to COVID-19. As the country moves towards a cashless society, numerous digital wallet payment platforms are emerging. McKinsey's research indicates that global payments through digital systems surpassed $1.9 trillion in 2018, with significant growth in the Asia Pacific region. In Malaysia, e-wallet adoption has increased, particularly among Gen Z and millennials, who comprise 45% of the population. Businesses expanding in Malaysia are encouraged to offer digital wallet payment options, aligning with the government's push for a cashless society. The robust e-commerce market and high internet penetration further contribute to the potential growth of e-wallets in the country.
January 15, 2024 - BY Admin
