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Malaysia Cards and Payments - Opportunities and Risks to 2024

Malaysia Cards and Payments - Opportunities and Risks to 2024

  • October 2020
  • 85 pages
  • ID: 5828929
  • Format: PDF
  • GlobalData

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Malaysia Cards and Payments - Opportunities and Risks to 2024

Summary
‘Malaysia Cards and Payments - Opportunities and Risks to 2024’ report provides detailed analysis of market trends in the Malaysian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, credit transfers, cheques, and direct debits during the review-period (2016-20e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.

The report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

This report provides top-level market analysis, information and insights into the Malaysian cards and payments industry, including -
- Current and forecast values for each market in the Malaysian cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cards, credit transfers, cheques, and direct debits. It also, includes an overview of the country’s key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Malaysian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope
- To offer faster payments, PayNet (in partnership with ACI Worldwide) launched the DuitNow real-time payment platform in December 2018. The system allows users to make instant credit transfers 24/7 using the recipient’s mobile phone number or another identification number. By the end of December 2019, almost 8 million users had registered for DuitNow. In July 2019, a new payment solution called DuitNow QR was launched. Through DuitNow QR, users can make in-store payments from any participating banks or e-wallets. Public Bank was the first to adopt the system, while GrabPay became the first e-wallet provider to do so.
- In order to further drive financial inclusion in the country, the central bank is putting more emphasis on digital banking. The bank released its exposure draft on the licensing framework for digital banks in December 2019. The document proposes simplified regulatory requirements and defines minimum capital, capital adequacy, and liquidity requirements to be maintained by digital banks. Delayed by the pandemic, the bank plans to release its final policy document in the coming months. Once the policy framework is finalized the bank intends to issue five digital banking licenses, which are expected to go live in 2021. In June 2020 the central bank released a policy document on e-KYC to promote digital onboarding among financial institutions.
- In accordance with the central bank’s Payment Card Reform Framework dated December 23, 2014, scheme providers are gradually reducing interchange fees. Effective from January 1, 2019 the revised interchange fee on Mastercard and Visa credit cards was set at 0.675%, compared to 1.037% in 2017. Also effective from January 1, 2019, American Express revised its interchange fee on credit cards to 0.575%. Reduced interchange fees are helping to boost payment card acceptance among merchants.

Reasons to Buy
- Make strategic business decisions, using top-level historic and forecast market data, related to the Malaysian cards and payments industry and each market within it.
- Understand the key market trends and growth opportunities in the Malaysian cards and payments industry.
- Assess the competitive dynamics in the Malaysian cards and payments industry.
- Gain insights into marketing strategies used for various card types in Malaysia.
- Gain insights into key regulations governing the Malaysian cards and payments industry.

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