E-wallet use jumps to 65% amongst Malaysia’s 25- to 34-year-olds

Older users logged a 14% rise year on year but still trail younger groups on this method.

Digital payments are becoming more common across all age groups in Malaysia, with younger consumers leading the shift, according to the "NON-CASH ECONOMY & THE ROLE OF E-WALLETS" report by Ipsos Malaysia.

Amongst people who used non-cash payments in the past three months, e-wallet usage was highest amongst those aged 25 to 34, at 65%, up 20% from 2024. 

This was followed by the 18 to 24 age group at 62%, an 11% increase. Usage was lower amongst older users, with 55% of those aged 35 to 44 using e-wallets, up 9%, and 40% amongst those aged 45 to 74, a 14% rise.

Online banking and digital transfers showed a similar pattern but with stronger adoption amongst middle-aged users. Around 60% of those aged 35 to 44 used online banking services, marking a 13% increase from the previous year. 

The 25 to 34 age group recorded 59% usage, up 11%, whilst 53% of those aged 18 to 24 used these services, an 18% increase. Usage amongst those aged 45 to 74 stood at 34%, up 6%.

The findings are based on a nationally representative sample of 1,034 people aged 18 to 74 in Malaysia, and point to continued growth in digital payment use across generations, with younger users adopting e-wallets faster and older groups leaning more towards online banking and digital transfers.