COVID-19 has accelerated Malaysian consumers’ interest in mobile payments, says yStats.com A new publication from Hamburg-based business intelligence firm yStats.com, “Top Mobile Payment Service Providers in Malaysia 2020 and their Reaction to the COVID-19 Crisis,” details the impact of the coronavirus pandemic on the ongoing move to mobile payments in the Southeast Asian country. Full Report: https://bit.ly/2IlJOJG

1. PRESS RELEASE
Hamburg, November 10th, 2020
COVID-19 has accelerated Malaysian consumers’ interest in
mobile payments, says yStats.com
A new publication from Hamburg-based business intelligence firm yStats.com, “Top Mobile Payment Service
Providers in Malaysia 2020 and their Reaction to the COVID-19 Crisis,” details the impact of the coronavirus pandemic
on the ongoing move to mobile payments in the Southeast Asian country.
Mobile payments boosted by spread of COVID-19 in Malaysia
Supported by the Governments E-Wallet popularization programs during the outbreak of COVID-19, E-Wallet providers have flourished
during the coronavirus pandemic. A survey cited in the yStats.com report reflects that two-fifths of Malaysian consumers have adopted E-
Wallets, as of June 2020. This puts the country in the first place in E-Wallet adoption among Southeast Asian countries. Moreover, the number of
digital wallets in the country had been constantly growing throughout 2019 and has especially accelerated after the outbreak of coronavirus this
year.
Competition between the Malaysian payment providers strengthens amid the health crisis
Amid the pandemic in Malaysia, the top mobile payment providers were Touch ‘n Go, Boost, GrabPay and BigPay. With that, Touch ‘n
Go was preferred for use by four in five Malaysian consumers in September 2020. At the same time, Maybank2u, an online payment service
from the largest Malaysian bank, is maintaining its market position and attracts new customers by offering an all-in-one payment app in October
2020, as detailed in the yStats.com report.
During the coronavirus, digital wallets in Malaysia undergo a surge in the use of their services
Malaysian E-Wallet BigPay saw about five-time growth in remittance transaction volume via its platform amid the pandemic. Moreover,
standard E-Wallet services are gaining momentum, as Malaysian digital wallet Boost has noted a doubling in the weekly transaction value of its
users in August, compared to December 2019.
For further information, see: https://www.ystats.com/market-reports/top-mobile-payment-service-providers-in-malaysia-2020-and-their-reaction-to-the-covid19-
crisis/
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About yStats.com
Founded in 2005 and headquartered in Hamburg, Germany, yStats.com is one of the world's leading secondary market research companies. We are committed to providing the most up-to-
date and objective data on Global B2C E-Commerce and Online Payment markets to sector-leading companies worldwide.
Our multilingual staff researches, gathers, filters and translates information from thousands of reputable sources to synthesize accurate and timely reports in our areas of expertise,
covering more than 100 countries and all global regions. Our market reports focus predominantly on online retail and payments, but also cover a broad range of related topics including M-
Commerce, Cross-Border E-Commerce, E-Commerce Delivery, Online Gaming and many others. In addition to our wide selection of market reports, we also provide custom market research
services.
We are proud to cooperate with companies like Bloomberg and Thomson Reuters. Given our numerous citations in leading media sources and journals worldwide, including Forbes and the
Wall Street Journal, we are considered one of the most highly-reputed international secondary market research companies with an expertise in the areas of B2C E-Commerce and Online
Payment.