The Best E-Wallets for Malaysians in 2025
Working overseas for so many years, I sometimes forget how much Malaysia has changed when I return home. E-wallets have taken over, and it’s a whole new world.
While Gen Z might not need an introduction to e-wallets, this guide is for clueless millennials like me who are still catching up.
Just last month, I found myself looking for a kiosk to pay for parking at a shopping mall. Silly me – there’s no more kiosk for cash payments. Everything is digital now, and you pay at the exit. It’s a stark reminder of how e-wallets have become a way of life in Malaysia.
With so many options available, it’s no wonder Malaysians are ditching their physical wallets for digital ones.
But with so many choices, how do you know which one is right for you? That’s where this guide comes in.
Top E-Wallets in Malaysia
Alright, let’s get into the nitty-gritty. Here’s a quick rundown of the most popular e-wallets in Malaysia, based on my personal experience and research:
| E-Wallet | Key Features | Card Available? |
|---|---|---|
| Touch 'n Go | QR payments, DuitNow transfers, no fees, toll payments, parking, public transport | Yes |
| GrabPay | QR payments, Grab rewards, food delivery, ride-hailing, cashback offers | No |
| Boost | QR payments, bill payments, phone top-ups, rewards, local merchant discounts | No |
| Wise | Hold 40+ currencies, mid-market exchange rates, international transfers | Yes |
| MAE | Maybank integration, budgeting tools, QR payments, bill payments | Yes |
| BigPay | AirAsia points, international transfers, budgeting tools, low fees | Yes |
| GoPayz | Investments, insurance, remittances, virtual and physical cards | Yes |
| AliPay | QR payments, online shopping, bill payments, international use (limited) | No |
| Merchantrade | Multi-currency wallet, international payments, linked prepaid card | Yes |
Each of these e-wallets has its strengths and weaknesses, and the best one for you will depend on your specific needs.
For example, if you’re someone who travels a lot, Wise or BigPay might be your best bet. But if you’re looking for something that integrates seamlessly with your bank account, MAE by Maybank could be the way to go.
I used to think Touch 'n Go was only for Malaysia. Then, when I was in China, my friends recommended TNG’s Alipay integration. I checked it out, and it turns out you can use TNG in neighbouring countries with just a 1% conversion fee.
It’s amazing how e-wallets are expanding their features.
The Best E-Wallets for Different Needs
For Everyday Use: Touch 'n Go and Boost
If you’re looking for an e-wallet that you can use for just about anything in Malaysia, Touch 'n Go and Boost are solid choices. I’ve been using Touch 'n Go for years, and it’s become my go-to for toll payments, parking, and even public transport. The app is straightforward, and the QR payment feature works like a charm at most stores.
Boost, on the other hand, is great for those who want a bit more flexibility. You can use it to pay bills, top up your phone, and even earn rewards as you spend. I’ve never used Boost, but it seems to be particularly useful for smaller transactions, like buying a drink at a convenience store or paying for a meal at a food court.
For International Transactions: Wise and BigPay
If you’re someone who travels frequently or needs to send money abroad, Wise and BigPay are worth considering. My friends who work as seafarers use Wise to receive their salaries safely and conveniently. The exchange rates are competitive, and the fees are transparent. Another friend used the linked Wise card while travelling in various countries.
BigPay is another great option, especially if you’re an AirAsia frequent flyer. You can earn AirAsia points as you spend, and the app also offers budgeting tools to help you keep track of your expenses.
I’ve used BigPay for online shopping in Hong Kong, and when I was in Singapore, I bought an EZ-Link card but ended up mostly using my BigPay card. I also registered for Wise because it’s a great option for seafarers to receive salaries safely. However, I had some trouble registering and didn’t get to try it until I signed off.
For Rewards and Cashback: GrabPay and MAE by Maybank
If you’re all about rewards and cashback, GrabPay and MAE are the way to go. GrabPay is perfect if you’re already using Grab for ride-hailing or food delivery. You can earn Grab rewards as you spend, and the app also offers cashback on certain transactions. Many retailers accept it as a payment method.
MAE by Maybank is another great option, especially if you’re a Maybank customer. The app integrates seamlessly with your bank account, and you can use it to send money, pay bills, and even track your expenses.
Personally, I haven’t used either of these, but they appear to be highly recommended.
While e-wallets are incredibly convenient, I’ve noticed that they can make it easier to spend money without thinking.
The seamless transactions and rewards systems can sometimes encourage impulsive purchases.
If you’re like me and prefer to keep your spending in check, it’s worth setting a budget or using e-wallets that offer built-in budgeting tools.
I hope this helps you find the perfect e-wallet for your needs. Whether you’re looking for everyday convenience, international transactions, or rewards, there’s an e-wallet out there for you. Happy cashless spending!
Referral links:
Get RM5 when you activate BigPay with my referral code: PNOVKOZ43L
Get a free card when you sign up with my Wise link: Wise
