By Yennie Tan, Partner and Deals Strategy Leader, PwC Malaysia
Malaysia a hotbed for e-wallets
2018 has been a defining year for the digital payments landscape, with the emergence of over 40 e-wallet players in Malaysia. There were 28 in 2016.
This digital wave is in no small part due to the regulator’s initiatives and push towards a cashless society. Moving forward, the e-wallet market is poised for strong growth and could support more sophisticated functions such as remittances, e-payments and shared QR codes.
Furthermore, industry players regard Malaysia as a prime market given its favourable demographics and potential to drive e-wallet adoption.