What do Malaysians use eWallets to Pay for Most?

10/29/2020Shen Lee

While eWallets are usually associated with paying for F&B, their usages have branched out far and wide since the concept was first introduced.

These days, we Malaysians can use eWallets to pay for everything - from zakat to utility bills to charity donations. Few avenues have remained untouched, and payments convenience is at an all-time high.

Through our Best eWallet in Malaysia for 2020 Survey, we were able to find out which categories of spending typically see the highest eWallet adoption. Read on to find out!

  • No. 1: Groceries

Out of the 245 respondents in the survey, 97% claim to use eWallets when paying for their groceries.

This makes perfect sense. For many of us, groceries often take up the biggest chunk of our monthly budget - after compulsory bills such as rent, car and utilities, of course. 

As we’ve mentioned before, eWallets may not have insanely high cashback or savings. The best way to really see a difference is by making the habit of using eWallets to pay for large, recurring payments such as necessary groceries.

Touch ‘n Go eWallet also seems to be the most popular eWallet to pay for groceries. Most middle-aged respondents between the ages of 35 - 54 on the other hand, prefer to use Boost.

Follow these links to check out which grocers accept TNG eWallet and Boost eWallet.

  • No. 2: In-store purchases

Almost on equal footing with groceries are in-store purchases, which 95% of respondents use eWallets to pay for. 

Even in-store, TNG eWallet leads the category by a long shot, while Boost follows behind.

As in-store purchases vary immensely from books to cosmetic items to home appliances, the number and type of merchants that an eWallet supplies has to be huge in number. And with over 150,000 merchants, TNG eWallet certainly has that going for them!

Once again, middle-aged respondents tend to prefer using Boost to pay for in-store purchases, while older respondents prefer TNG eWallet.

  • No. 3: Online shopping

Walk into any major store in upscale Klang Valley today, and you’re likely to be overwhelmed with the sheer variety of payment methods available. 

Online shopping is no different. At the checkout stage, you’re likely to be greeted with the same choice overload. 

Online shopping is the third category with the highest eWallet adoption, with 94% of respondents using eWallets when buying goods online. Of those 94%, 39% prefer to use TNG eWallet, while 15% prefer to use Boost. 

Of interest in this category is ShopeePay, which is the third most used eWallet for online shopping, while Lazada Wallet trails behind at No. 4 - which just goes to prove Shopee's rising prevalence and popularity.

  • Petrol is the category with the lowest eWallet adoption

Our survey quizzed Malaysians on their eWallet usage in 8 categories. These include groceries, in-store purchases, online shopping, in-dining, bills, food delivery, mobile top-up and petrol.

Of those 8 categories, petrol was the category where eWallet adoption lacked most.

Only 76% of respondents use eWallets to pump petrol. This means that a quarter of Malaysians don’t use eWallets at the petrol station, preferring to use cash or card instead.

Granted, not many petrol stations provide the option of paying with eWallets. As of now, Shell accepts TNG eWallet and Boost, while Petronas accepts their own eWallet Setel, which has also recently partnered with Boost to allow Malaysians to use Boost at Setel-enabled Petronas stations. 

This exciting news is a glimpse into better eWallet interoperability to come. Let us know what other features you’d like to see come about in the eWallet environment!