Malaysia e-wallet ownership drops to 1.5 wallets per user

Less frequent usage rose with 24% paying through wallets every one to three months.

Malaysians are continuing to use e-wallets regularly, although the number of digital wallets used per person has declined slightly as consumers narrow their preferences.

The survey found that Malaysians used an average of 1.5 e-wallets in 2025, down from 1.8 in both 2023 and 2024. In 2022, the average stood at 1.7 wallets, according to Ipsos Malaysia’s Non-Cash Economy &The Role Of E-Wallets survey.

Ipsos said e-wallets remain part of daily routines for many consumers, but some users are reducing the number of platforms they rely on as payment habits become more established. The study noted that experienced users tend to stay with services they trust and that offer rewards or convenient transactions.

The survey also showed that 39% of respondents used e-wallets every day in 2025, down three percentage points from 2024. 

Another 36% said they used e-wallets every week, a decline of six percentage points year-on-year.

Meanwhile, less frequent use increased. About 24% of respondents said they used e-wallets once every one to three months, up eight percentage points from the previous year.

Ipsos said some payments are also shifting towards online bank transfers as consumers become more selective about how they make cashless transactions.

The findings were based on a nationally representative survey of 1,034 Malaysians aged between 18 and 74 conducted in May 2025.