The adoption of e-wallets in Malaysia has witnessed significant growth, with over half of the population using them daily. The surge in cashless transactions is attributed to technological advancements and the impact of COVID-19. Examining the e-wallet landscape, both established names and newcomers have contributed to the competitive market. During the pandemic, e-wallet usage peaked, reaching 57%, driven by government initiatives and safety concerns. Demographically, various age groups and income levels showed increased e-wallet adoption, with users utilizing an average of 3-4 e-wallet brands. Despite a dip post-COVID-19, e-wallet usage remains substantial, with continued incentives being a key factor in sustaining consumer interest. Brands must differentiate and offer value beyond rewards to maintain market share.
January 15, 2024 - BY Admin
