e-Commerce and Payments in Malaysia
Strong infrastructure for cross-border spending and delivery.
Malaysia’s e-commerce market has expanded quickly in recent years thanks to increased smartphone adoption and consumers’ willingness to make international purchases. Businesses new to the nation can benefit from the expanding physical infrastructure and regulatory framework created to facilitate e-commerce in this dynamic market.
Market Overview
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Population
34.3 million
-
Online Population
29.2 million
-
Currency
MYR
-
e-Commerce Market Value
$8.75 billion
-
GDP
$424.69 billion
-
GDP per Capita
$11,884
Available Local Payment Method
MY Bank Transfer
Type
Bank Transfer
Regions
Asia Pacific
FPX
Type
FPX
Regions
Asia Pacific
Key Takeaways
- The rapidly growing Malaysian e-commerce market is advantageous to foreign retailers. A significant portion of a sector experiencing rapid expansion is cross-border spending.
- Chinese conglomerate Alibaba is just one illustration of how global brands are stepping up to take advantage of the opportunities available. Alibaba recently announced plans to establish a regional distribution hub in Malaysia.
- In 2020, the Malaysian government intends to impose a digital tax on cross-border e-commerce, which could have an impact on foreign vendors of digital goods.
- Malaysian consumers favor using bank transfers as a payment option when shopping online.
