Comparison of 10 best e-Wallets available in Malaysia (2023)

Hannes Ausmees

Looking for an e-wallet in Malaysia? You’re in luck. Malaysia is pretty well served for e wallets which means you have plenty to pick from, depending on which features and services you need. This guide walks through all you need to know, including a head to head comparison on features, and a more detailed dive into how each wallet works.

E-Wallet Comparison: overview

We’ll look at each of these wallets in more detail next, but first a look at some of the best e wallets in Malaysia side by side:

FeaturesDebit card available?Payment methods
  • Hold 40+ currencies and get a linked Wise card
  • Send money to 80+ countries
  • Mid-market exchange rate currency conversion
YesSend local and international payments, shop online, transfer to other wallets
Touch ‘n Go
  • Pay tolls, parking and transit costs
  • Send payments to others
  • Pay bills
YesTransfer to other wallets, pay using QR code, pay tolls by RFID
  • Send money to others
  • Order food and rides
  • Shop online and top up phones
Grab x Maybank credit card offered in partnership with Maybank¹Transfer to other wallets, shop online, pay using QR code
  • Access Maybank digital banking features
  • Save, budget, track expenses
  • Send money, spend online and in store
YesTransfer to other wallets and bank accounts, shop online, pay using QR code
  • Spend online and with your card
  • Send local and international payments
  • Good exchange rates offered
YesTransfer to other wallets and bank accounts, shop online, make QR payments
  • Scan and pay in stores
  • Shop online
  • Earn cash back, rewards and exclusive gifts
NoTransfer to other wallets, shop online, make QR payments
  • Access lots of financial services in one place
  • Physical and virtual prepaid cards available
  • Invest, insure and remit from your phone
Yes²Transfer to other wallets, remit money overseas, shop online, make QR payments
WeChat Pay
  • Send payments as part of a WeChat chat
  • Pay by QR code
  • Pay bills, top up phones
NoQR payments, send payments to other WeChat users
  • Send payments to others
  • Pay online and by QR code
  • Pay bills, top up phones
NoQR payments, send money to others, shop online
Merchantrade Money
  • Multi-currency wallet with linked card
  • Track expenses
  • Pay bills
YesSend and receive local and international payments

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

Wise - the most international e-Wallet in Malaysia

Wise lets you hold and exchange 40+ currencies, spend in 170+ countries, send payments to 80+ countries, and get paid fee free from 30+ countries.

  • Transact in 40+ currencies with the mid-market exchange rate
  • Take the Wise card with you wherever you go, just top up MYR and spend in any country that accepts Visa cards with the mid-market exchange rate
  • Get local MYR details to receive money, plus 9 other sets of bank details to receive money like a local from abroad (including SGD, USD, AUD and more)
  • Send payments to 80+ countries with the mid-market rate and fees from 0.43%

Wise might be a great e-wallet pick for you if you travel or shop online internationally, or if you ever need to pay or get paid from overseas. Many Malaysian e-wallets have fairly limited international services, but Wise has been optimised to make it easy to send, spend, hold and exchange currency whether you’re at home or abroad.

Open your Wise account online or in the Wise app, order your Wise card for a one time low fee and you’re good to go. You can switch between any of the 40 supported currencies in a few taps, with the mid-market rate and low fees from 0.43%. Plus send payments to others and receive money in a selection of currencies for free.

Get a Wise account today!

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

Touch ‘n Go

Touch ‘n Go³ is one of the best known and longest established e-wallets in Malaysia, and comes with a linked payment card if you’d like one.

  • Make payments, send money to others and pay for your transportation easily
  • Wallet limits up to 20,000 MYR once verified⁴
  • No Touch ‘n Go fees
  • DuitNow transfers available in MYR

Touch ‘n Go ewallets can be used to hold a MYR balance, make payments to others, pay in stores by scanning a QR, and also offer a wide range of other features like bill pay and phone top ups. You can send local MYR payments using DuitNow, or manage overseas transactions in select locations through TNG’s link up with Alipay⁵.

Learn more about Touch ‘n Go e-wallet Malaysia here.



GrabPay⁶ ewallet allows you to easily make payments and get more from Grab’s services, including ride hailing and food order.

  • Pay in stores with a QR, and online with select retailers
  • Order takeout food and Grab rides
  • Earn rewards as you spend

Grab offers a pretty broad range of services in Malaysia, and the GrabPay ewallet lets you access many of them easily. Top up your wallet or add a card, then use Grab to spend in person and online, or to pay when you top up your phone, order food, or more. You’ll be able to continue to earn Grab rewards as you use your GrabPay wallet, and can transfer credits to others too. Grab is available in several countries in the region - if you’re able to use your Grab wallet internationally you may find fees are applied, either by Grab or by your card issuer.

Find out more about GrabPay Malaysia here.


MAE by Maybank2u

MAE⁷ is Maybank’s digital ewallet, which is offered through Maybank2u online and mobile banking system.

  • Access many of Maybank’s services online and through your MAE app
  • Send and receive payments, spend with your card and scan QR codes to pay in store
  • Budgeting and saving features available

Maybank customers can download MAE to access a neat e-wallet to use for day to day expenses. And if you’re not already signed up you can also get started simply by downloading the app and getting verified. MAE features are pretty broad, as you’ll be able to access payments, online shopping, and ways to manage your money better, plus Maybank2u features like ways to check your banking details and receive payments.

Want to know more about MAE by Maybank2u? Read this.



BigPay⁸ is available in Malaysia for local and international payments, plus budgeting tools to help you make your money go further.

  • Send local transfers and make international transfers to select countries
  • Get a BigPay card for easy in person, online and mobile spending
  • Earn AirAsia points as you spend

BigPay is an e-wallet with linked card which you can use in Malaysia and abroad. You’ll be able to add money to your account in MYR to access competitive exchange rates when overseas, and can transfer money internationally to select countries. International transfer fees are from 3.50 MYR to 22 MYR depending on where you’re sending to, and when you’re abroad you’ll pay an ATM fee of 10 MYR + a 1% currency conversion fee for card spending⁹.

Get a full BigPay guide here.



Boost¹⁰ is a prepaid e-wallet you can top up in advance in MYR, for easy spending in Malaysia.

  • Scan and pay in Malaysia, and shop online
  • Pay bills and set up automatic account top ups so you never run out of money
  • Earn exclusive rewards as you use your Boost ewallet

Boost ewallets can be used pretty extensively in Malaysia, with a huge merchant list for QR payments, and ways to pay your bills and top up phones. You can also use Boost to earn rewards, and to buy insurance. There’s no Boost card, and as international merchants might not accept Boost QR payment you might find this ewallet can’t be used particularly widely overseas.

Learn more about Boost e-wallet in this guide.



GoPays¹¹ offers a broad range of financial services in Malaysia, including investments, insurance and remittances - plus there’s a GoPayz ewallet¹² for easy mobile spending.

  • Use your ewallet for QR payments, get virtual cards, and order a physical GoPayz prepaid card if you need one
  • Send payments locally and internationally
  • Access a large range of financial services all from the same provider

You can get a GoPayz wallet which offers easy QR payments, plus virtual cards for online and mobile shopping. For 16 MYR you can also order a physical card for those times you really need one. International services are available including options to order foreign currency in cash to be delivered to your home, and ways to make overseas remittances to banks or for cash collection in the destination country.

Read a full review of GoPayz Malaysia here.

WeChat Pay

WeChat is a hugely popular service, and the WeChat Pay¹³ ewallet also gives options to make simple payments.

  • Send payments and gifts to other WeChat users within a chat
  • Scan a QR to pay in stores
  • Top up your phone or pay a bill from your wallet

WeChat Pay allows Malaysian customers to link a Malaysian issued card to their WeChat account to make easy payments. That means you can send someone money right within your chat, as well as using your ewallet to pay in stores by scanning a QR. Mobile phone top ups and bill payments services are also available.

There’s more about WeChat Pay and how to use it here.



AliPay is a giant in payments - now AliPay Malaysia¹⁴ customers can use the service to send money to others, shop online and in stores.

  • Scan a QR to pay in person, plus online shopping with select retailers
  • Send payments in MYR from your bank card through Alipay
  • Range of services in app, including ticket purchase and bill pay

AliPay used to be tricky to use without a Chinese bank account, but it’s now much easier for Malaysians to use the service. Once you have an AliPay account you can pay with a QR code in stores, send money to others and shop online. Although AliPay’s international services are expanding, there are still some limitations. For example, to send an overseas payment you’ll usually need a Chinese bank account and ID.

However, it’s good to know that if you’re looking at AliPay because you need to send CNY to someone in China, you can still do so by using a different ewallet app - such as Wise¹⁵.

Want to know more about AliPay Malaysia? Read this.


Merchantrade Money

Merchantrade Money¹⁶ has a good range of services including an ewallet product which comes with a linked prepaid card.

  • Send local and international payments
  • Hold multiple currencies in your account
  • Pay bills and spend online and in person with a linked card

Hold any of 20 supported currencies in your Merchantrade account, and switch between them when you need to. You can also get a linked prepaid payment card for easy use at home and abroad. Merchantrade has some handy international services although it’s helpful to know about the fees you’ll pay for overseas use - including an international ATM fee from 10 MYR, and a 1% overseas transaction cost when you spend a currency you don’t hold in your account¹⁷.

There’s more about Merchantrade Money in this review.

Summary: what is the best e-wallet in Malaysia?

There’s no single best e wallet in Malaysia. Which one suits you will come down to the services and features you need to use.

If you need an easy way to make QR payments in Malaysia then Touch ‘n Go or GrabPay could be a good pick. If you’re after an ewallet from a big Malaysian bank, check out MAE by Maybank. Or, if you’re looking for ways to invest and get insurance with the same provider as your ewallet, maybe GoPayz will suit.

If you want an ewallet to use when you’re travelling or need to hold multiple currencies, consider getting Wise as one of the most flexible international ewallets on the market in Malaysia. You’ll be able to hold 40+ currencies, get paid like a local from 30+ countries, and send local and international payments easily.

Plus you can get a linked Wise card to spend in 170+ countries, with mid-market exchange rates every time you’re spending in a foreign currency.



  1. Grab x Maybank credit card
  2. GoPayz prepaid cards
  3. Touch ‘n Go
  4. Touch ‘n Go PDS
  5. Touch n’ Go + Alipay
  6. GrabPay Malaysia
  7. MAE
  8. BigPay
  9. BigPay Malaysia fees
  10. Boost
  11. GoPayz Malaysia
  12. Go Payz ewallet
  13. WeChat Pay Malaysia
  14. AliPay Malaysia
  15. AliPay - Wise
  16. Merchantrade Money
  17. Merchantrade Money fees

Sources checked on 25/04/2023

This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from Wise Payments Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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