If you are a person with high awareness, you likely will have seen many stores in Malaysia starting to accept the best e-wallet in Malaysia. Barcodes from popular e-wallets such as Boost, Grab and TnG often line the countertops of stores accepting them.
What is an e-wallet?
The definition of an e-wallet is an electronic or online device that allows transactions to be made via a computer or smartphone.
Most e-wallets, like credit or debit cards, links to the individual’s bank account in order to make payments. You can protect them with passwords or identification.
Best e-wallet in Malaysia 2021
According to LoanStreet, they have compiled a list of contenders that can compete to be the best e-wallet in Malaysia 2021.
As its name suggests, GrabPay is an e-wallet that Grab offers, and it’s certainly hard to miss with its distinct green and white logo and a tagline that goes #notsoleceh!
GrabPay is best known for being associated with Grab’s e-hailing service. By topping up your GrabPay e-wallet and using that money to pay for your Grab rides, you will gain points which can be exchanged for discounts, free rides and other GrabRewards.
You can also use GrabPay to complete transactions at restaurants and other physical stores; all of which will earn you points and GrabRewards as well.
If there’s one thing that Malaysians can agree on (aside from our love for food!), it would be that Touch ‘n Go (TNG) has made commuting in Malaysia so much more convenient.
With the recent introduction of the TNG eWallet, the level of convenience that this digital payment platform offers has certainly multiplied. You can use the money that you have stored in your TNG eWallet to pay for goods and services from various merchants with a few taps and enjoy some special treats along the way too.
The best part? You can link your TNG eWallet with your TNG Card through TNG’s PayDirect system — which would then allow you to pay for tolls directly through the app. Say goodbye to fumbling for your wallet at toll gates!
Not too convinced about the security of e-wallets? Boost might just be the right app for you and anyone else who is skeptical in a similar way.
Aside from promising to “Settle la bro!” your mobile prepaid top-up transactions in just five seconds, the Boost e-wallet takes security to the next level by requiring you to submit a PIN whenever you use it to make a payment — regardless of how small or big, that payment is.
It’s also one of the most widely used e-wallets in Malaysia, so don’t be surprised when you are given the option to pay with Boost for your vegetables during your next pasar malam visit!
vcash is a brainchild of one of Malaysia’s biggest telecommunications companies; one that is famous for having a Yellow Man as its mascot, that is.
It is best known for its ability to transfer cash to anyone who has a Malaysian phone number, even if that person’s number comes from another network provider. They do the transfer free of charge and is also instantaneous.
You can also opt to pair your vcash app with a prepaid credit card, which you can use to complete transactions in stores that permit payments through MasterCard.
5) Razer Pay
No, that isn’t a spelling error. The app’s name is Razer Pay, and it’s an e-wallet that caters specifically to youth and millennials.
Boasting the ability to be used at more than 10,000 retailers across Malaysia, particularly in the areas of food and beverage (F&B) and entertainment, Razer Pay is offered and serviced by Razer — which is one of the world’s biggest names in the gaming industry.
This e-wallet also plans to improve the convenience it provides through a collaboration with U Mobile, which would increase the reach of its network and thus make it one of the largest e-wallet providers in Malaysia.
With 5 choices of the best e-wallets in Malaysia, there will definitely be one that suits your taste. Happy spending!
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