Malaysia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

Malaysia Prepaid Card and Digital Wallet Business and Investment Opportunities Databook – Market Size and Forecast, Consumer Attitude & Behaviour, Retail Spend

  • January 2022 •
  • 120 pages •
  • Report ID: 6250751 •
  • Format: PDF
Report Description

Despite being cash dominated country, Malaysia has made significant progress from cash to non-cash payments. Notably, the high adoption of card payments, mainly supported by the increasing banked population and rising merchant acceptance with the introduction of a cap on interchange fees, has further provided the growth of the prepaid card market in Malaysia.

Millennials in the country played a significant role in the growth of the market. Almost 21% of the millennial population uses the mobile payments option to pay for public transport. Notably, the high adoption of contactless payments technology by merchants has boosted the consumers to shift towards prepaid instruments in the country. More than 55% of the millennial population depends on cards to pay for their groceries. All these provided a shift towards contactless spending and high adoption of the prepaid card by consumers in Malaysia.

Notably, the government measures amidst pandemic, such as lockdown and social distancing restrictions, have closed brick-and-mortar shops, affecting consumer spending, which has further reduced card payments in Malaysia. However, vaccination drive and improved economic conditions have positively impacted card payments in the country.

Malaysian digital wallet providers are building partnerships with global payments companies to launch prepaid cards

With the increase in the digitally native millennials in the country, Malaysian digital wallet providers are entering into strategic partnerships with technology companies to grab a prominent market share in the prepaid market space. For instance,
• In December 2021, Boost, an e-wallet provider and also the fintech arm of Axiata Digital partnered up with global technology and payments provider, Mastercard, to offer a range of innovative payment solutions to Malaysian and Indonesian consumers. Out of these solutions, the first to hit the market will be a Mastercard prepaid card.
• The Boost Mastercard prepaid card will allow Boost consumers to make transactions in a safe and secured manner in Malaysia, Indonesia, and globally where Mastercard is accepted.
• The partnership will include the introduction of SME financial products in both countries. Notably, this will help to broaden the services offered to small micro-merchants through the platforms such as Boost Biz and Boost Credit
• Similarly, in August 2021, Kiplepay Sdn Bhd (“Kiple”), a wholly-owned subsidiary of Green Packet Berhad, collaborated with the payment technology company Visa to launch a prepaid card for Kiplepay users in Malaysia.

Malaysian banks are collaborating with digital payment service providers to enter the prepaid market

The banking institutions are entering the prepaid card market space with unique products so as to attract the digital natives of the country and to cater to their evolving financial needs. For instance,
• Affin Bank Berhad, Malaysia has collaborated with digital payment service and mobile virtual network operator provider Merchantrade Asia Sdn Berhad to bring a prepaid e-wallet card to the market in October 2021.
• This is a multi-currency prepaid card that will allow the customers to transact funds globally in 20 foreign currencies without any cross-currency charges.

Prepaid card providers are focusing to obtain digital banking licenses to expand market share

The rising smartphone penetration and better internet connections are encouraging digital players to enter the banking space. For instance,
• In June 2021, BigPay, the subsidiary of AirAsia, has filed an application to the Central Bank of Malaysia to provide individuals and micro-businesses with full-fledged financial services.
• BigPay has partnered with Malaysian Industrial Development Finance Bhd (MIDF), a unit of the country’s largest asset manager Permodalan Nasional Bhd, private equity firm Ikhlas Capital and a foreign conglomerate with fintech expertise. This will support the company in sanctioning the application in its favor.
• The prepaid card and e-wallet provider launched several regulated financial products in Malaysia, which include e-money, international remittance prepaid cards, and micro-insurance, etc.
• BigPay is planning to launch new services such as credit, savings, and freelancer-focused services with the help of the digital banking license.

According to the analyst, the prepaid card market (value terms) in Malaysia increased at a CAGR of 9.4% during 2017-2021. Over the forecast period of 2022 to 2026, the market is expected to record a CAGR of 14.4%, increasing from US$6.06 billion in 2022 to reach US$10.40 billion by 2026.

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Malaysia.

With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
• Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry in Malaysia.
• Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
• Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 13 open loop and closed loop prepaid market segments. Details four essential KPIs – number of cards in circulation, number of transactions, load value, and value of transactions.
• Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
• Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.

Scope

This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Malaysia.

With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

Malaysia Digital Wallet Market Size and Forecast
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

Malaysia Digital Wallet Market Size and Forecast by Key Segments
• Retail Shopping (Value, Volume, Avg. Value)
• Travel (Value, Volume, Avg. Value)
• Entertainment and Gaming (Value, Volume, Avg. Value)
• Restaurant (Value, Volume, Avg. Value)
• Recharge and Bill Payment (Value, Volume, Avg. Value)

Malaysia Prepaid Card Industry Market Attractiveness
• Load Value Trend Analysis
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop, 2016 – 2025

Market Share Analysis by Prepaid Card Categories

Malaysia Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Malaysia Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Malaysia Prepaid Card Consumer Usage Trends
• By Age Group
• By Income Group
• By Gender

Malaysia General Purpose Prepaid Card Market Size and Forecast

Malaysia Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
• By Open Loop Gift Card
• By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
• By Retail Consumer Segment
• By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location

Malaysia Entertainment and Gaming Prepaid Card Market Size and Forecast

Malaysia Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
• By Open Loop Teen and Campus Prepaid Card
• By Closed Loop Teen and Campus Prepaid Card

Malaysia Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
• By Retail
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Transit and Tolls Prepaid Card Market Size and Forecast

Malaysia Healthcare and Wellness Prepaid Card Market Size and Forecast

Malaysia Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

Malaysia Fuel Prepaid Cards Market Size and Forecast

Malaysia Utilities, and Other Prepaid Cards Market Size and Forecast

Reasons to buy
• In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in Malaysia.
• Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
• Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets.

Scope of the report
This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Malaysia. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.

Malaysia Digital Wallet Market Size and Forecast
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction

Malaysia Digital Wallet Market Size and Forecast by Key Segments
• Retail Shopping (Value, Volume, Avg. Value)
• Travel (Value, Volume, Avg. Value)
• Entertainment and Gaming (Value, Volume, Avg. Value)
• Restaurant (Value, Volume, Avg. Value)
• Recharge and Bill Payment (Value, Volume, Avg. Value)

Malaysia Prepaid Card Industry Market Attractiveness
• Load Value Trend Analysis
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Market Share Analysis by Functional Attributes – Open Loop vs. Closed Loop, 2016 – 2025

Market Share Analysis by Prepaid Card Categories

Malaysia Open Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Malaysia Closed Loop Prepaid Card Future Growth Dynamics, 2016 – 2025
• Transaction Value Trend Analysis
• Transaction Volume Trend Analysis
• Average Value per Transaction
• Number of Cards

Malaysia Prepaid Card Consumer Usage Trends
• By Age Group
• By Income Group
• By Gender

Malaysia General Purpose Prepaid Card Market Size and Forecast

Malaysia Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
• By Open Loop Gift Card
• By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
• By Retail Consumer Segment
• By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location

Malaysia Entertainment and Gaming Prepaid Card Market Size and Forecast

Malaysia Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
• By Open Loop Teen and Campus Prepaid Card
• By Closed Loop Teen and Campus Prepaid Card

Malaysia Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
• By Retail
• By Small Scale Business Segment
• By Mid-Tier Business Segment
• By Enterprise Business Segment
• By Government Segment

Malaysia Transit and Tolls Prepaid Card Market Size and Forecast

Malaysia Healthcare and Wellness Prepaid Card Market Size and Forecast

Malaysia Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast

Malaysia Fuel Prepaid Cards Market Size and Forecast

Malaysia Utilities, and Other Prepaid Cards Market Size and Forecast

Reasons to purchase
• In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument in Malaysia.

• Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.

• Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards and digital wallets.
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