Summary
Malaysia Cards and Payments - Market Analysis and Forecast to 2025
Summary
‘Malaysia Cards and Payments - Opportunities and Risks to 2025’ 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, credit transfers, card, cheques, and direct debits during the review-period (2017-21e).
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 (2021e-25f). 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, credit transfers, card, cheques, and direct debits . It also, includes an overview of the country’s key alternative payment instruments.
- Ecommerce 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.
- Comprehensive analysis of consumer attitudes and buying preferences for cards
- The competitive landscape of the Malaysian cards and payments industry
Scope
- In June 2021, Bank Negara Malaysia (BNM) and the Bank of Thailand launched a cross-border QR payment link between Malaysia and Thailand. Under the first phase, users in Thailand are now able to use their mobile app to scan DuitNow QR codes to make payments to merchants in Malaysia, including online cross-border ecommerce transactions. Under phase two (which at the time of writing has not been implemented), users in Malaysia will be able to use their mobile app to scan Thai QR codes to make payments to merchants in Thailand. The last phase of the link will be expanded to include cross-border remittances. Users in both countries will be able to make real-time fund transfers using the mobile phone number of the recipient. This functionality is expected to go live in Q4 2022.
- 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. In June 2020, the central bank released a policy document on electronic Know Your Customer procedures to promote digital onboarding among financial institutions. As of July 2021, the central bank had received a total of 29 applications for digital banking licenses. Applicants reportedly include Grab, AirAsia, Malaysian conglomerate Sunway, and telecommunications conglomerate Axiata.
- 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. In July 2019, DuitNow QR was launched, enabling users to make in-store payments via participating banks and e-wallets. In June 2021, DuitNow introduced a new service called DuitNow Request in collaboration with Standard Chartered, which allows users to send payment collection requests.
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.
