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Country Report

Financial Cards and Payments in

Financial Cards and Payments in Malaysia

Nov 2019

US$2,100

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Executive Summary

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Dynamic transaction growth, driven mainly by debit cards and widening infrastructure

The number of financial cards in circulation in Malaysia increased slightly in 2019, whilst card payment transactions saw strong growth in both current value and volume terms. Credit card transactions continued to dominate card payment transactions in value terms in 2019.

E-wallets contribute to the move towards a cashless society

Non-bank parties are becoming involved in the payments industry, and retail outlets have been receptive, moving into the new era by accepting cashless payments via e-wallets such as Alipay and WeChat Pay MY. Such e-payments are accepted at selected retail outlets across the country, including convenience stores.

Moving towards the future of e-payments with QR codes

In 2017, payment transactions using foreign-issued QR code mobile payment services were recorded at Malaysian merchants. In view of this trend, local banks have been introducing QR code transactions and supporting Bank Negara Malaysia’s agenda to accelerate the country’s migration towards a cashless society.

Co-branding and rewards are offered by players to attract consumers

Players in financial cards and payment are constantly launching new products to attract consumers, with the choice of card driven as much by rewards and benefits as by other features. Consumers are attracted by cards created for a certain lifestyle, such as co-branded cards.

Cards will play a strong role despite the rising popularity of digital payment

The number of financial cards in circulation is expected to continue to rise Malaysia in the forecast period. Nevertheless, current value and volume transactions are expected to see much higher growth, indicating a greater number of transactions per card.

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Overview

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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.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Financial Cards and Payments 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 Financial Cards and Payments industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Financial Cards and Payments in Malaysia market research report includes:

Analysis of key supply-side and demand trends
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Financial Cards and Payments in Malaysia?
What are the major operators and issuers in Malaysia?
How will regulation impact the market?
What is the current state of emerging payment technologies such as mobile commerce?

Why buy this report?

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

Euromonitor’s industry reports, including Financial Cards and Payments in Malaysia, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

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Financial Cards and Payments in Malaysia - Industry Overview

EXECUTIVE SUMMARY

Dynamic transaction growth, driven mainly by debit cards and widening infrastructure

E-wallets contribute to the move towards a cashless society

Moving towards the future of e-payments with QR codes

Co-branding and rewards are offered by players to attract consumers

Cards will play a strong role despite the rising popularity of digital payment

MARKET INDICATORS

Table 1 Number of POS Terminals: Units 2014-2019
Table 2 Number of ATMs: Units 2014-2019
Table 3 Value Lost to Fraud 2014-2019
Table 4 Card Expenditure by Location 2019
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 6 Domestic versus Foreign Spend 2019

MARKET DATA

Table 7 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 8 Financial Cards by Category: Number of Accounts 2014-2019
Table 9 Financial Cards Transactions by Category: Value 2014-2019
Table 10 Financial Cards by Category: Number of Transactions 2014-2019
Table 11 Consumer Payments by Category: Value 2014-2019
Table 12 Consumer Payments by Category: Number of Transactions 2014-2019
Table 13 M-Commerce by Category: Value 2014-2019
Table 14 M-Commerce by Category: % Value Growth 2014-2019
Table 15 Financial Cards: Number of Cards by Issuer 2014-2018
Table 16 Financial Cards: Number of Cards by Operator 2014-2018
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 20 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 21 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 22 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 23 Forecast Consumer Payments by Category: Value 2019-2024
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 25 Forecast M-Commerce by Category: Value 2019-2024
Table 26 Forecast M-Commerce by Category: % Value Growth 2019-2024

DEFINITIONS

SOURCES

Summary 1 Research Sources

Charge Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Some businesses move to credit cards due to attractive offers

High-income consumers are the main holders of personal charge cards

No significant impact from SST expected in charge cards

COMPETITIVE LANDSCAPE

American Express and Maybank work to increase merchant acceptance

Launch of a sharia-compliant commercial charge card

Low awareness of charge cards

CATEGORY DATA

Table 27 Charge Cards: Number of Cards in Circulation 2014-2019
Table 28 Charge Cards Transactions 2014-2019
Table 29 Charge Cards in Circulation: % Growth 2014-2019
Table 30 Charge Cards Transactions: % Growth 2014-2019
Table 31 Commercial Charge Cards: Number of Cards in Circulation 2014-2019
Table 32 Commercial Charge Cards Transactions 2014-2019
Table 33 Commercial Charge Cards in Circulation: % Growth 2014-2019
Table 34 Commercial Charge Cards Transactions: % Growth 2014-2019
Table 35 Personal Charge Cards: Number of Cards in Circulation 2014-2019
Table 36 Personal Charge Cards Transactions 2014-2019
Table 37 Personal Charge Cards in Circulation: % Growth 2014-2019
Table 38 Personal Charge Cards Transactions: % Growth 2014-2019
Table 39 Charge Cards: Number of Cards by Issuer 2014-2018
Table 40 Charge Cards: Number of Cards by Operator 2014-2018
Table 41 Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 42 Charge Cards Payment Transaction Value by Operator 2014-2018
Table 43 Commercial Charge Cards: Number of Cards by Issuer 2014-2018
Table 44 Commercial Charge Cards: Number of Cards by Operator 2014-2018
Table 45 Commercial Charge Cards Payment Transaction Value by Issuer 2014-2018
Table 46 Commercial Charge Cards Payment Transaction Value by Operator 2014-2018
Table 47 Personal Charge Cards: Number of Cards by Issuer 2014-2018
Table 48 Personal Charge Cards: Number of Cards by Operator 2014-2018
Table 49 Personal Charge Cards Transaction Value by Issuer 2014-2018
Table 50 Personal Charge Cards Transaction Value by Operator 2014-2018
Table 51 Forecast Charge Cards: Number of Cards in Circulation 2019-2024
Table 52 Forecast Charge Cards Transactions 2019-2024
Table 53 Forecast Charge Cards in Circulation: % Growth 2019-2024
Table 54 Forecast Charge Cards Transactions: % Growth 2019-2024
Table 55 Forecast Commercial Charge Cards: Number of Cards in Circulation 2019-2024
Table 56 Forecast Commercial Charge Cards Transactions 2019-2024
Table 57 Forecast Commercial Charge Cards in Circulation: % Growth 2019-2024
Table 58 Forecast Commercial Charge Cards Transactions: % Growth 2019-2024
Table 59 Forecast Personal Charge Cards: Number of Cards in Circulation 2019-2024
Table 60 Forecast Personal Charge Cards Transactions 2019-2024
Table 61 Forecast Personal Charge Cards in Circulation: % Growth 2019-2024
Table 62 Forecast Personal Charge Cards Transactions: % Growth 2019-2024

Credit Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Hassle-free credit service guarantees growth in credit cards

The younger generation is becoming more cautious about credit card debt

SST leads to a slowdown in credit card applications

COMPETITIVE LANDSCAPE

Players offer credit card rewards to retain consumers’ loyalty

Launches of commercial credit cards to expand the consumer base

Range of co-branded cards launched by Hong Leong Bank and Emirates Skywards

CATEGORY DATA

Table 63 Credit Cards: Number of Cards in Circulation 2014-2019
Table 64 Credit Cards Transactions 2014-2019
Table 65 Credit Cards in Circulation: % Growth 2014-2019
Table 66 Credit Cards Transactions: % Growth 2014-2019
Table 67 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 68 Commercial Credit Cards Transactions 2014-2019
Table 69 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 70 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 71 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 72 Personal Credit Cards Transactions 2014-2019
Table 73 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 74 Personal Credit Cards Transactions: % Growth 2014-2019
Table 75 Credit Cards: Number of Cards by Issuer 2014-2018
Table 76 Credit Cards: Number of Cards by Operator 2014-2018
Table 77 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 78 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 79 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 80 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 81 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 82 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 83 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 84 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 85 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 86 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 87 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 88 Forecast Credit Cards Transactions 2019-2024
Table 89 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 90 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 91 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 92 Forecast Commercial Credit Cards Transactions 2019-2024
Table 93 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 94 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 95 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 96 Forecast Personal Credit Cards Transactions 2019-2024
Table 97 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 98 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Many factors stimulate the dynamic growth of debit cards

Moving towards an online, cashless society, although security concerns remain

Mobile wallets will contribute to the expected dynamic performance

COMPETITIVE LANDSCAPE

Debit cards face a challenge from the consumer preference for online bank transfers

The unbanked population could be difficult for players in debit cards to reach

Products to attract consumers and boost demand

CATEGORY DATA

Table 99 Debit Cards: Number of Cards in Circulation 2014-2019
Table 100 Debit Cards Transactions 2014-2019
Table 101 Debit Cards in Circulation: % Growth 2014-2019
Table 102 Debit Cards Transactions: % Growth 2014-2019
Table 103 Debit Cards: Number of Cards by Issuer 2014-2018
Table 104 Debit Cards: Number of Cards by Operator 2014-2018
Table 105 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 106 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 107 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 108 Forecast Debit Cards Transactions 2019-2024
Table 109 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 110 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Pre-paid cards offer an alternative for budget-conscious consumers

RapidKL’s aim to go cashless boosts open loop pre-paid cards

Opportunity for merchants in closed loop pre-paid cards

COMPETITIVE LANDSCAPE

Partnerships to create competitiveness

Visa and Mastercard not yet present in closed loop pre-paid cards

BigPay offers an e-wallet with pre-paid card with several benefits

CATEGORY DATA

Table 111 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 112 Pre-paid Cards Transactions 2014-2019
Table 113 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 114 Pre-paid Cards Transactions: % Growth 2014-2019
Table 115 Closed Loop Pre-paid Cards Transactions 2014-2019
Table 116 Closed Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 117 Open Loop Pre-paid Cards Transactions 2014-2019
Table 118 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 119 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 120 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 121 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 122 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 123 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 124 Closed Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 125 Closed Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 126 Closed Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 127 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 128 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 129 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 130 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 131 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 132 Forecast Pre-paid Cards Transactions 2019-2024
Table 133 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 134 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 135 Forecast Closed Loop Pre-paid Cards Transactions 2019-2024
Table 136 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 137 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 138 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Megatrends

Country Report

Financial Cards and Payments in Malaysia

New Report Guarantee

Executive Summary

New Report Guarantee

Dynamic transaction growth, driven mainly by debit cards and widening infrastructure

E-wallets contribute to the move towards a cashless society

Moving towards the future of e-payments with QR codes

Co-branding and rewards are offered by players to attract consumers

Cards will play a strong role despite the rising popularity of digital payment

Overview

Why buy this report?

Samples (FAQs about samples):

Want to find out more about this report?

Table of Contents

Financial Cards and Payments in Malaysia - Industry Overview

EXECUTIVE SUMMARY

Dynamic transaction growth, driven mainly by debit cards and widening infrastructure

E-wallets contribute to the move towards a cashless society

Moving towards the future of e-payments with QR codes

Co-branding and rewards are offered by players to attract consumers

Cards will play a strong role despite the rising popularity of digital payment

MARKET INDICATORS

MARKET DATA

DEFINITIONS

SOURCES

Charge Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Some businesses move to credit cards due to attractive offers

High-income consumers are the main holders of personal charge cards

No significant impact from SST expected in charge cards

COMPETITIVE LANDSCAPE

American Express and Maybank work to increase merchant acceptance

Launch of a sharia-compliant commercial charge card

Low awareness of charge cards

CATEGORY DATA

Credit Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Hassle-free credit service guarantees growth in credit cards

The younger generation is becoming more cautious about credit card debt

SST leads to a slowdown in credit card applications

COMPETITIVE LANDSCAPE

Players offer credit card rewards to retain consumers’ loyalty

Launches of commercial credit cards to expand the consumer base

Range of co-branded cards launched by Hong Leong Bank and Emirates Skywards

CATEGORY DATA

Debit Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Many factors stimulate the dynamic growth of debit cards

Moving towards an online, cashless society, although security concerns remain

Mobile wallets will contribute to the expected dynamic performance

COMPETITIVE LANDSCAPE

Debit cards face a challenge from the consumer preference for online bank transfers

The unbanked population could be difficult for players in debit cards to reach

Products to attract consumers and boost demand

CATEGORY DATA

Pre-Paid Cards in Malaysia - Category analysis

HEADLINES

PROSPECTS

Pre-paid cards offer an alternative for budget-conscious consumers

RapidKL’s aim to go cashless boosts open loop pre-paid cards

Opportunity for merchants in closed loop pre-paid cards

COMPETITIVE LANDSCAPE

Partnerships to create competitiveness

Visa and Mastercard not yet present in closed loop pre-paid cards

BigPay offers an e-wallet with pre-paid card with several benefits

CATEGORY DATA

Store Cards in Malaysia - Category analysis

PROSPECTS

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