PETALING JAYA: The outbreak of Covid-19 has been the catalyst in contactless payment adoption in Malaysia, enabling businesses to drive their business forward, while ensuring the safety of their customers.
Since 2020, various innovative tech companies have been successfully funded, with committed capital amounting to more than RM4bil, according to Maybank Investment Bank (Maybank IB) Research.
However, the growing number of e-wallet companies or issuers has resulted in a very competitive space, with highly-sensitive pricing to maximise monthly active users and likely to result in the “survival of the fittest”, said the research firm. The notable names in the e-wallet space are Touch ‘n Go (TNG), Boost and Grab.
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