Payment Solutions in Malaysia

Territories - Asia

Empowering payments across Malaysia

Digital payments and beyond in Malaysia's cashless journey

Malaysia’s payment landscape is rapidly transforming, with digital and alternative payment methods gaining traction alongside traditional banking. With a significant 88% of internet penetration and over 40% of Malaysians using mobile wallets, the adoption of eWallets like Touch ‘n Go, Boost, and GrabPay is on the rise. Additionally, Buy Now, Pay Later (BNPL) services and QR code payments are becoming popular as they offer flexibility and convenience. This shift towards cashless payments aligns with Malaysia’s vision to become a fully digital economy by 2030.

Market Overview

Population

35.6 million
Online Population

33.6 million
Currency

MYR

e-Commerce Market Value

$11 billion
GDP

$445.5 billion
GDP per Capita

$11,947

Available Payment Methods

At UBank Connect, we understand the importance of reliable and efficient payment solutions for your business. That’s why we offer a comprehensive range of services in Malaysia, including Bank Transfer, DuitNow, and FPX. Whether you’re managing local transactions or processing online payments, our solutions are designed to simplify the process and enhance your business operations. With DuitNow and FPX leading the way in real-time transfers and secure online payments, we ensure that your customers enjoy a smooth and hassle-free experience every time.

Why should you choose UBank Connect? Because we’re more than just a payment provider—we’re your partner in success. Our cutting-edge technology, deep market expertise, and unwavering commitment to security make us the trusted choice for businesses across Malaysia. We’re dedicated to helping you navigate the ever-evolving payment landscape, offering support and innovation every step of the way. Let UBank Connect power your payments and take your business to new heights today!

Why choose UBank Connect?

Direct connection to banks
Dedicated bank account(s)
Local technology and operations team
Flexible and competitive rates
Global reach with a single API access
Support in emerging markets

Key Takeaways

Malaysia’s digital banking sector is expanding, with more consumers opting for online banking platforms. The rise of digital banks and fintech startups is transforming how Malaysians manage their finances, providing more accessible and innovative financial services.
Malaysian shoppers are increasingly favoring digital payments over cash, especially for online shopping and in-store purchases. With 65% of consumers preferring to use mobile wallets or cards, businesses must adapt to these evolving preferences to stay competitive in the market.
Malaysians are increasingly adopting alternative payment methods such as Buy Now, Pay Later (BNPL) and QR code payments. These options offer more flexibility and convenience, appealing to a tech-savvy population that values seamless and diverse payment experiences.

Get started today!

Discover how UBank Connect can enhance your payment solutions in Malaysia. Contact us today to learn more about how we can support your business. Let’s connect and take your payment processes to the next level.

Territories - Asia

Empowering payments across Malaysia

Digital payments and beyond in Malaysia's cashless journey

Market Overview

Population

Online Population

Currency

e-Commerce Market Value

GDP

GDP per Capita

Available Payment Methods

Why choose UBank Connect?

Key Takeaways

Get started today!

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