How To Make Use Of All The E-Wallets In Malaysia
With the launch of Touch n’ Go and Boost e-Wallet on ShopBack, the battle to win the hearts and minds of Malaysians to use their e-wallets is really heating up. With so many players and promotions, it can get a bit confusing for us. Thus, we at ShopBack have curated a list of the e-wallets that are worth getting simply for the deals and convenience.
What Are e-Wallets?
Simply put, an e-wallet or digital wallet refers to an online service or electronic device that enables someone to make transactions electronically. This consists of things like making purchases at online and offline merchants. These e-wallets can be topped up using Netbanking, debit cards, credit cards or using cash to buy prepaid cards. This credit is then used to purchase things that range from e-commerce payment fees, insurance, booking hotels, recharging phone data, paying for food or paying bills. Usually, the user’s bank account, phone number or other forms of identification such as your identity card and driver’s license are tied to the digital wallet for authentication purposes and prevention of fraud.
As only about 10% of the overall transactions made in Malaysia were digital wallet transactions, the technology is still not widely adopted in Malaysia. Things are about to change. With the likes of Alibaba, Tencent, Grab, Boost, Samsung and Razer introducing their e-wallets in Malaysia, these are exciting times. Although this technology is not widespread yet, there are deals and offers to be had when you signup for these e-Wallets. Here are 5 e-Wallets you should look out for.
e-Wallets in Malaysia to Get
Backed by the huge Axiata Group, the Boost digital wallet has been growing exponentially. On top of having big merchants like Steam, Krispy Kreme, MBO Cinemas KK Super Mart, Fave, Boost Juice Bar and Tealive on board; you can use Boost at places like the Pasar Malam and hawker centers as well. Do note that you’ll have to deposit money into the wallet before you use it.
Why You Should Get it
- Boost uses the convenience of QR code payments so you won’t need a phone with NFC
- Allows you to purchase voucher codes and electronic gifts that you can send to your friends
- Vouchers and cashback on the app
- Allows you to easily split the bill with friends
Currently, Boost is having a promotion where you stand a chance to win an iPhone 11 Pro or a Boost Shake Reward of up to RM500 when you upgrade your Basic Wallet to a Premium Wallet. All you have to do is verify your Boost account!
Applicable Terms & Conditions:
1) Spending a minimum of RM10 on Scan & Pay.
2) Deposit or using the Send Money feature to get an entry
3) Winners will be announced every Wednesday.
2. Touch ‘n Go
If you’re a Malaysian, you’ve definitely heard of Touch ‘n Go. The transport e-Wallet is used most prominently to pay toll fares at toll plazas throughout Malaysia. All you have to do is tap your Touch ‘n Go card on the reader, and you’re good to go! The service is used by an estimated more than 10,000 Malaysians and continues to serve more today. Not only does Touch ‘n Go has a toll fare card but it also has an e-wallet which you can use to pay for shopping, healthcare products, transferring money through your Touch ‘n Go card, and more!
Why You Should Get It
- You can pay for movie tickets using your Touch ‘n Go card
- Easier transfer money between Touch ‘n Go eWallet
- Top up eWallet for Toll usage
- Purchase of flight tickets through Touch ‘n Go
- Retail purchase with attached merchants
- Drive through tolls using money from your eWallet
Touch ‘n Go Promotions
Purchase movie tickets at TGV for only RM10 all day with the Touch ‘n Go eWallet until 1 Sep 2020! Also, the eWallet is offering 35% off ticket purchases and 10% off Retail & F&B at Legoland Malaysia from 15 October to 31 December 2019.
GrabPay has been officially launched in Malaysia on June 8, 2018. The main draw of this e-wallet is that it can be used for Grab’s ride-hailing service and its food delivery service GrabFood. Plus, GrabPay is now accepted in more than 500 famous food and beverage merchants spanning eight major cities nationwide, namely Klang Valley, Penang, Johor Bahru, Ipoh, Melaka, Kota Kinabalu, Kuching, and Kuantan.
These restaurants range from famous chains such as Tealive and TeoChew Chendul which have outlets across the country to local city favourites such as Devi’s Corner, KGB Burgers and TedBoy Bakery (Klang Valley), China House (Penang), Burps & Giggles (Ipoh), Kopi Ping (Kota Kinabalu) Big Bowl Ice (Melaka) and Coffee Gallery (Kuantan).
Why You Should Get it
- Grab has partnered with Maybank to drive the GrabPay service
- You are a frequent user of Grab’s ride-hailing service and GrabFood
- You are a regular user of transportation services on KLIA
- Able to top up at 7-11, Debit/Credit Cards and Online bank transfer
As a user of GrabPay, every ringgit spent on a Grab ride, money spent instore, or at GrabFood earns you GrabRewards points. These points can then be used to purchase rewards, namely Grab coupons, in-store vouchers, GrabFood voucher codes and more. In addition, Grab will give discount codes from time to time as well.
GrabPay is built into the Grab app.
Last on this list is Samsung Pay, one of the more established digital wallet players in Malaysia. Although this e-wallet is only available on Samsung smartphones and wearables like the Gear S3 and Gear Sport; it’s good enough to make you consider a Samsung phone. Samsung Pay is supported by CIMB, Maybank, Citibank, Public Bank and more. Moreover, Samsung Pay is supported by merchants like Baskin Robins, Bebe, 99 Speedmart, GNC, Kinokuniya, Petronas and even Malaysia Airports.
Why You Should Get it
- You have a Samsung device
- Easy to use – You only need to scan your phone in a similar manner to PayWave
- A PayPal partnership is in the works
- You can use Visa or Mastercard for this digital wallet
Samsung Pay Promotions
Samsung has a plethora of exclusive promotions available here. From complimentary handcrafted beverages when you add cards, and up to 15% cashback for every 3rd Samsung Pay dining transaction, the list keeps getting refreshed. Plus, if you would like to get a Samsung Smartphone, you can find one on Qoo10 and get cashback on your purchase.
Read More: 5 Best CashBack Credit Cards In Malaysia
Boost and Touch ‘n Go are available on ShopBack Malaysia soon! Remember to shop through ShopBack for extra cashback!
Article updated 30 Oct 2019.