Malaysia Payments Market Share

Statistics for the 2022 & 2023 Malaysia Payments market share, created by Mordor Intelligence™ Industry Reports. Malaysia Payments share report includes a market forecast to 2028 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Malaysia Payments Industry

Malaysia's payment market is highly competitive, with many local and global players. The market's leading players use strategic cooperation actions and innovations to gain market share and increase profitability.

In April 2023, PayPal Holdings Inc. announced it had added new features to its complete payment solutions for small businesses. The solution enables small businesses to accept various payments, including Paypal, Venmo, and Paypal Pay Later Products. PayPal will also give small businesses access to four new features to help them drive payment acceptance and enhance how they run their business. This will include Apple Pay as a checkout option, the ability for customers to save payment methods with the PayPal vault for faster future checkout, a real-time account updater to help customers keep their payment methods up to date, and access to IC++ pricing.

In March 2023, Maybank collaborated with American Express and launched the American Express Explorer Business Platinum CardTM, which catered to small businesses, business banking, and corporate customers to help them better manage their cash flow while rewarding them for their spending. The American Express Explorer Business Platinum Card (Explorer Card) simplifies business expense management and is well-positioned to become the preferred payment tool for various types of expenditures, especially for travel, with a host of rewards for both local and overseas spending.

Malaysia Payments Market Leaders

  1. Ipay88 (m) Sdn Bhd

  2. United overseas bank (Malaysia) Bhd

  3. PayPal Holdings Inc.

  4. Cimb Group Holdings Berhad

  5. Maybank

*Disclaimer: Major Players sorted in no particular order

Malaysia Payments Market Concentration