The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreNov 2020
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The use of debit cards was already displaying solid growth rates in terms of transactions and the rise in the number of cards in circulation towards the end of the review period in Malaysia, supported by an ongoing increase in the banked population, and a further shift towards cashless payments. The mandatory replacement of ATM cards with debit function cards by Bank Negara Malaysia (BNM) had also continued to boost the usage of debit cards prior to the emergence of the pandemic.
The number of commercial debit cards and their usage in Malaysia is significantly lower compared to personal cards, as they tend to focus on business usage. This niche category therefore experienced a greater decline in value transactions compared to personal debit card usage during lockdown as employees were encouraged to work from home which reduced the number of business expenses to be accrued over the year.
While Malayan Banking Bhd continued to dominate local issuers in 2020 in terms of debit card transactions, the competitive landscape has become increasingly competitive with smaller players gaining significant ground in terms of both transactions and number of cards in circulation as local consumers continued to open new debit accounts in line with the switch away from cash during the pandemic. Malayan Banking Bhd, meanwhile increased its number of debit cards in circulation to address this increased demand, gaining share from its closest competitors Bank Simpanan Nasional Sdn Bhd and CIMB Bank Bhd.
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Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Malaysia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Debit Transactions industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
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Euromonitor’s industry reports, including Debit Transactions in Malaysia, originate from our database within our Consumer Finance market share and market size database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.