Personal Finance Tips

Top payment methods in Malaysia: A guide on best ways to pay

Nicholas Chia

25.08.25

Read time 2 minutes

Wondering what the most popular ways to pay are in Malaysia? Explore the top payment options and choose wisely.

Malaysia, with a population of around 33.85 million people, has a GDP of approximately 444.98 billion, making it the 37th largest economy in the world. The official currency of Malaysia is the Malaysian Ringgit (MYR).

A diversified economy with major sectors in electronics manufacturing, petroleum and natural gas exports, and palm oil production. It is a member of ASEAN and APEC, with China, Singapore, and the United States as its key trading partners.


Country	Malaysia
Population	33.85 million
GDP (USD)	444.98 billion
Global Ranking	37th
Currency	Malaysian Ringgit (MYR)

What is the main payment method in Malaysia?

Malaysia's interoperable QR code standard, DuitNow QR, has seen massive adoption and allows users to pay from any participating bank or e-wallet app, making it a leading payment method.² For e-commerce, online banking via the FPX gateway is a dominant method that facilitates real-time debiting of a customer's bank account.¹ Debit and credit cards with contactless functionality are also widely used for retail purchases.³

How to pay in Malaysia

Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Malaysia.

Payment method	Description	Type
Wise	Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the real mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies.	Online/in-person
Bank Transfers (FPX)	Real-time online bank transfers are a dominant payment method. FPX is the national payment gateway that facilitates these transfers for e-commerce and bill payments.¹	Online
Digital Wallets (Touch 'n Go, GrabPay, DuitNow QR)	Digital wallets are extremely popular. Touch 'n Go is a leader, and the DuitNow QR standard allows interoperability between many bank and e-wallet apps for seamless QR payments.²	Online/in-person
Cards (Debit/Credit)	Debit cards are a very common payment method for in-person retail. Credit cards are also popular, especially for online shopping.³	Online/in-person
Cash (Ringgit)	Despite high digital adoption, cash remains a very important and widely used payment method, especially in smaller towns, for street food, and at local markets.	In-person

Is PayPal available in Malaysia?

Yes, PayPal is accepted in Malaysia.⁴

Cover all your international travel expenses with the Wise Multi-Currency Card

Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.

You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.

And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.

Get started with Wise

*Wise is not a bank. The Wise Multi-Currency Card is issued by our sponsor Bank(s), member(s) FDIC. Fees and T&C apply. See https://growth-layer.live/%3C/a%3E for details.

Sources:

PayNet | FPX

PayNet | DuitNow QR

Bank Negara Malaysia | Payment Statistics

PayPal Malaysia

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.