Malaysia Cards and Payments: Opportunities and Risks to 2028

GlobalData's 'Malaysia Cards and Payments: Opportunities and Risks to 2028' report provides top-level market analysis, information and insights into the Malaysian cards and payments industry, including -

• Current and forecast values for each market in the Malaysian cards and payments industry, including debit, credit and charge cards.
• Detailed insights into payment instruments including cash, credit transfers, cards, cheques, and direct debits. It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Malaysian cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Malaysian cards and payments industry.

GlobalData's 'Malaysia Cards and Payments: Opportunities and Risks to 2028' report provides detailed analysis of market trends in the Malaysian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques and direct debits during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2024e-28f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

Key Highlights

• Digital banks are likely to increase the competition in Malaysia's banking sector, as the government issues new licenses, helping to boost debit card uptake. In April 2022, the government of Malaysia granted conditional digital banking licenses to five applicants. GXBank, the digital-only bank, began operations in November 2023. Meanwhile, the central bank gave final approval to Boost Bank and AEON Bank to launch operations. In January 2024, Boost Bank launched its operations. In May 2024, AEON Bank launched its operations, making its mark as Malaysia's first Islamic digital bank.
• The rising demand for contactless public transport payments is expected to drive the use of payment cards going forward. In October 2023, Malaysia's Ministry of Transport revealed plans to introduce an open-loop fare payment system across the country's public transport networks, co-managed by Prasarana Malaysia and Keretapi Tanah Melayu Bhd (KTMB). The new system will accommodate QR code-based payments, in addition to other card payments. Design and development work for the open payment system began in March 2024. By February 2025, around 50% of the stations will support credit and debit card payments, while the remaining fare gates will be upgraded by August 2025.
• The rising number of card-based payments has resulted in international players entering the space. In February 2022, Indian Fintech company- RazorPay which process online payments, acquired Malaysian fintech company Curlec to expand its presence in the country. In addition, in October 2023, BNM granted a license to Razorpay's Curlec to operate as a non-bank merchant acquirer in Malaysia.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Malaysia along with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cash, credit transfers, cards, cash, cheques and direct debits.
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Malaysian cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Malaysian cards and payments industry.
• Assess the competitive dynamics in the Malaysian cards and payments industry.
• Gain insights into marketing strategies used for various card types in Malaysia.
• Gain insights into key regulations governing the Malaysian cards and payments industry.