Payments in Malaysia 2017: What Consumers Want?

“The Report Payments in Malaysia 2017: What Consumers Want? provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz”

About Payments in Malaysia

“Payments in Malaysia 2017: What Consumers Want?”, report examines the consumer payments market in Malaysia, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.

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The Malaysian payments market remains cash-reliant, but has high growth potential as it moves towards digital payments. With the government and banks providing financial inclusion and making efforts to change consumer payment habits, payment cards gradually became more accepted in Malaysia. As part of its Financial Sector Blueprint 2011-2020, the central bank is making constant efforts to promote electronic payments. One initiative was the reduction in Interbank GIRO fees and an increase in cheque processing fees from April 2014. Further, the growth of POS terminals, the complete migration to EMV standards with contactless functionality, and significant developments in the e-commerce environment would all contribute to the ongoing digital transformation of this market.

It provides in-depth analysis of the following –

– Analyzes consumer attitudes to financial services by lifestage.

– Analyzes the major payment card types in terms of both card holding and usage.

– Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.

– Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Malaysia are deploying these tools to meet customer needs.

– Explores the online payment market in Malaysia by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

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Scope

– While cash remains the most important traditional payment tool in Malaysia, cards will be used more frequently as the move to non-cash payments accelerates. To aid payment card growth, the central bank established the Payment Card Reform Framework (PCRF) in 2014. Under the framework, the central bank capped the interchange fees, focused on enhancing payment card infrastructure, and established the MDF.

– The Malaysian e-commerce market has a significant growth potential. To provide impetus, the Malaysian government in March 2017, implemented the DFTZ as part of the National E-commerce Strategic Roadmap that aims to support digital services, international e-commerce, and internet-based innovations.

– Contactless technology recorded a strong uptake in Malaysia with all major banks offering contactless cards.

Reasons to buy

– Understand the key facts and figures in the consumer payments market in Malaysia.

– Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.

– Find out what products the major competitors are launching in the market.

– Discover consumer sentiments towards various payment tools in the Malaysian market and use this knowledge to inform product design.

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Table of Contents

Market Overview

Megatrends

Card-based Payments

E-commerce Payments

Alternative Payments

Payments Infrastructure & Regulation

Appendix

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