Ipsos: 50% of Malaysian Use Only Cash, TnG and Mae Lead E-Wallets Usage
Arun Menon, Managing Director, Ipsos Malaysia
16-Feb-24 12:00
![Ipsos: 50% of Malaysian Use Only Cash, TnG and Mae Lead E-Wallets Usage](https://bfmcms.s3.ap-southeast-1.amazonaws.com/websiteimages/enterprise-biz-bytes/2024-02-16_ipsos-50percent-of-malaysian-use-only-cash-tng-and-mae-lead-e-wallets-usage/og_5f31db40-3ed6-42cc-9feb-7755e27dd776.png)
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Today Enterprise Explores the on-going shift towards a non-cash economy and how payment systems have evolved over the last few years with Arun Menon, Managing Director at Ipsos Malaysia, a market research firm.
Back in January, Ipsos released their latest case study on Non-Cash Economy & Payment Evolutions which found that there has been a slight decrease in the usage of non-cash payment methods in 2023. However, a key point to take note of is that half of Malaysians still use non-cash payments, with e-wallets being used by a quarter of the population.
Besides that, some other notable findings from the “Non-Cash Economy & Payment Evolution” study shows:
A higher frequency of people who are using e-wallets
More youths are using online transfer
The usage of e-wallet for food purchases have increased but experienced a drop for retail and online purchases
TnG Wallet retains the top spot as the most used e-wallet brand, with MAE as strong number 2
There is a lot more to break down and digest from this study, which Arun help us explore and digest.
Produced by: Kishan Sivaswamy
Presented by: Roshan Kanesan
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Categories: technology, economy, markets
Tags: Payment methods, Touch N’Go, MAE, e-wallets, online transactions, cashless payment,