10 Best E Wallets in Malaysia 2022

An e-wallet is a feature within an app that allows transactions to be made via a smartphone. Similar to a traditional 'wallet', the e-wallet stores digital cash instead of physical cash. The prominence of e-wallets in Malaysia has grown significantly in the past few years, with its huge growth mainly driven by the government’s efforts and active marketing efforts by various companies.

best e wallet malaysia
Credit: CompareHero.my

Let’s check out the popular eWallets in Malaysia now with their payment method, top up method and other features as below:

1) E Wallet Touch 'n GO

Courtesy of tngdigital.com.my

TouchnGO eWallet is owned by TNG Digital Sdn Bhd, It’s an all in one e-wallet service covering all existing and future Touch ‘n Go products & services, with the Slogan “Shaping the future of e-payments for Malaysians”.
  • Payment Method : QR Code
  • Transfer to Friends : Yes, with Phone Number
  • Top Up Method : FPX, Credit or Debit Card, Reload Pin, or Auto Reload
  • Merchants : Over 100K Merchants as at Dec 2019
  • Users : Android 5M++ | IOS
  • E Wallet Limit in Malaysia: RM200 or RM500 depending on wallet type.
Visit Website: https://www.tngdigital.com.my/

2) Boost

Courtesy of myboost.com.my

Boost is more than just a regular mobile payment app on the App Store and Play Store. Boost is proudly Malaysia’s homegrown lifestyle e-wallet app that is both secure and rewarding. At Boost, they make the mission to provide everyone with a worry-free cashless mobile payment experience all-day, every day.
  • Payment Method : QR Code
  • Transfer to Friends : Yes, with Phone Number
  • Top Up Method : Online Banking, Credit / Debit Card
  • Features : Shake for Cashback
  • Users : Android 1M++ | IOS
  • Premium Wallet users can transfer money from their e-wallets into their bank accounts in Malaysia (E wallet transfer to bank account Malaysia)
  • E Wallet Limit in Malaysia: Maximum RM1,000 (Basic) or RM4,999 (Premium)
Visit Website: https://www.myboost.com.my

3) Wechat Pay

Courtesy of WeChat Pay on Facebook

WeChat Pay Malaysia is a simple, secure & convenient mobile payment solution for all Malaysian WeChat users. WeChat has Quick Pay, QR Code Payment, In-App Web-based Payment, In-App Payment, Mini Program Payment, to fulfill different payment situation.

You’ll need a Malaysian bank account and card to use the system, and can only send money in MYR. It’s also worth knowing that in person payments can only be made from your WeChat Pay balance, so you will have to top up your account before you can go on a spending spree.

Withdrawal limits set at RM10,000 per calendar month, and RM4,500 per wallet account and per bank account.
  • Payment Method : QR Code
  • Transfer to Friends : Yes, to wechat Friends or angow in group
  • Top Up Method : Credit / Debit Card
  • Features : Angpow
  • Users : Android 100M++ Wechat Users | IOS
Visit Website: https://www.wechat.com

4) MAE Maybank 


A short form for ‘Maybank Anytime, Everywhere,’, the MAE e-wallet is open to non-Maybank customers as well. Upon registration, users will get a Maybank account number and a virtual debit card.

Due to the valid Maybank account number that comes with the e-wallet, you can also receive money through traditional methods including instant online bank transfers and cash deposit machines. There’s no need to download a new app because the MAE app is integrated right in the Maybank2U app.

MAE allows you to transfer cash to your friends, split and pay bills or pay via QR code at over 200,000 QRPay merchants, as well as book movie tickets and flight tickets. MAE has a maximum wallet size of RM4,999 and a limit of RM2,999 per transaction.

Web: maybank2u.com.my

What happened to MaybankPay app? 

MaybankPay app was terminated on 20 July 2020. Accordingly, the bank has removed its app from Google Play on the same date, as well as deactivate and delete all card accounts that are stored in the app.

The MaybankPay app, which was launched in 2016, was originally meant as a payment app for NFC-enabled Android devices, leveraging on the feature to connect to payment terminals. However, it is limited in its convenience given that the app can only support Maybank’s Visa cards; to use MaybankPay, you need to link it to a Visa debit, credit, or prepaid card issued by the bank. Moreover, the app is compatible only with Visa’s PayWave terminals.

5) GrabPay


GrabPay, one of Malaysia’s leading e-wallet providers, offers you the convenience of paying for everyday services like bills, groceries, food, rides services, prepaid reloads, and more – all within one app. You will also earn GrabRewards points for every transaction you make with GrabPay!
  • Payment Method : QR Code
  • Transfer to Friends : Yes, with Phone Number
  • Top Up Method : Online Banking, Credit / Debit Card
  • Users : Android 100M++ Grab Users | IOS
  • E Wallet Limit in Malaysia: Maximum RM500 or RM1500 depending on wallet type.
Visit Website: https://www.grab.com/my/pay

6) Razer Pay


Razer Pay is the e-wallet app designed for youth and millennials. Driven by a robust and secure payment system, you can also transfer and receive funds easily from your friends. Start using Razer Pay by topping up your e-wallet with funds or linking it with your preferred credit or debit card. You can now make purchases and enjoy promotions from thousands of retailers, transfer and receive funds from friends, and do so much more.
  • Payment Method : QR Code
  • Transfer to Friends : Yes, with Phone Number
  • Top Up Method : 7-Eleven , Online Banking, or Debit Card
  • Users : Android 500k++ | IOS
  • E Wallet Limit in Malaysia: Maximum RM3,000 depending on wallet type.
Visit Website: https://pay.razer.com/my

7) Bigpay



BigPay is a mobile app with a card providing a simple interface for you to spend, send, receive and track money – anywhere in the world.

AirAsia launched BigPay on January 2018, BigPay is slightly different from other ewallets which requires you to scan a QR code to pay. By having a prepaid card attached to the ewallet, you would now be able to use it like a normal credit card.
  • Payment Method : Bigpay Card
  • Transfer to Friends : Yes, to Bigpay friends
  • Top Up Method : Credit / Debit Card, Bank Transfer
  • Features : Accepted Word-wide
  • Users : Android 500k++ | IOS
Visit Website: https://www.bigpayme.com

8) FavePay


FavePay is the quick, easy way to pay with your smartphone at your favourite restaurants and caf├ęs, and get up to 30% instant cashback.

FavePay is a mobile payment feature on Fave, where you get cashbacks after your purchase using FavePay, or discounts.
  • Payment Method : QR Code
  • Transfer to Friends : Not Available
  • Top Up Method : Credit / Debit Card
  • Features : Up to 15% Cashback
  • Users : Android 1M++ Fave Users | IOS
Visit Website: favepay

9) Vcash


The Vcash eWallet is a secure and smart way to carry electronic money in your smartphone, giving you the convenience of paying for anything, anywhere on-the-go. vcash is powered by Digi Telecommunications Sdn Bhd in partnership with Valyou Sdn Bhd, a Bank Negara Malaysia licensed electronic money issuer.
  • Payment Method : QR Code
  • Transfer to Friends : Yes, with Phone Number
  • Top Up Method : Deposit through a supported store, JOMPAY, or Online Banking
  • Users : Android 100k++ | IOS
  • E Wallet Limit in Malaysia: Maximum RM500, RM2500 or RM5000 depending on wallet’s level.
Visit Website: https://www.vcash.my

10) AEON Wallet


AEON Wallet is mainly designed to work with the AEON Members Plus Visa card. The idea is that the AEON Wallet complements the prepaid card by allowing users to access its funds and loyalty programme without having to carry the card around.
  • Payment Method : QR Code
  • Transfer to Friends : Not Availble
  • Top Up Method : All cards issued by AEON Credit Service Malaysia
  • Merchants: AEON stores
  • Users : Android 10k++ | IOS
Visit Website: https://www.aeonwallet.com.my

Frequently Asked Questions

Types of e-wallets

The transfer of money can be done either by scanning a QR code or through the card’s NFC technology. Termed near-field communication, NFC basically allows phones, tablets or laptops to share data with other NFC-equipped devices. Sounds familiar? Well, NFC evolved from RFID (radio-frequency identification) technology, the innovation that allowed us to scan our office cards into offices.

How to use e-wallets

All you gotta do is place your smartphone within four inches of another NFC device, and it will automatically signal your digital wallet to pop up and confirm a payment. Unlike bluetooth, NFC doesn’t require manual pairing or device discovery to transfer data. Some other e-wallets will allow transactions via an accompanying physical or prepaid card.

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