Chart of the Week: Malaysia’s card payments to grow 4% in 2025

Wider card acceptance and contactless cards will help drive this growth.

Malaysia’s payment card market— including point-of-sale (POS) and ATM cash withdrawals— are expected to grow by 4% and be valued at $177.9b (MYR814.1b) by 2025, according to estimates from GlobalData.

Wider card acceptance and contactless cards will play a key role in this growth, the data and analytics company said in a report published in May 2025.

Payments card value in Malaysia registered a compound annual growth rate (CAGR) of 8% between 2020 and 2024 to reach $171.1b (MYR783b).

Cash payments are reportedly steadily declining in Malaysia. The share of ATM cash withdrawals now represents just 49.8% of the market in 2025, lower than the 63.3% in 2021.