Malaysia Digital Payments Surge as Consumers Embrace Innovation

The rise of Malaysia digital payments is surpassing global adoption rates, with 63% of consumers favouring modern tools such as mobile wallets, QR codes, and biometric authentication over cash and traditional card methods, according to Mastercard research.

The report reveals that 99% of Malaysians are expected to adopt emerging payment methods in the next 12 months, driven by instant payments, AI-powered financial management, and super app integrations. While cash remains prevalent, QR codes and mobile wallets are growing rapidly, particularly among younger demographics driving social commerce trends.

However, concerns over data privacy persist, with 84% of consumers wary of how their financial data is accessed and used.