Malaysia

E--payments surge 25% in 2025 as digital finance gains momentum

Bank Negara Malaysia reports record growth in e-payments, mobile banking, and digital remittances with transactions climbing 25 per cent to 18.4 billion from 14.7 billion in the previous year

Updated 4 months ago · Published on 31 Mar 2026 12:56PM

E--payments surge 25% in 2025 as digital finance gains momentum
Rising user confidence drives larger transaction base and broader adoption of digital finance solutions by consumers - March 31, 2026

BANK Negara Malaysia (BNM) has reported a remarkable rise in digital payments in 2025, with e-payment transactions climbing 25 per cent to 18.4 billion from 14.7 billion in 2024.

On average, each Malaysian conducted 538 e-payments during the year, up from 432 in the previous year, reflecting a growing reliance on cashless transactions across the country.

The central bank noted in its Annual Report 2025 that e-payment transactions in Malaysia expanded at a compound annual growth rate of 17 per cent between 2022 and 2025, consistently surpassing the Financial Sector Blueprint 2022–2026 target of 15 per cent annual growth in per capita e-payment transactions.

The growth was underpinned by steady consumption and higher retail e-payment activity, which rose 19 per cent to RM831 billion, compared to RM698.2 billion in 2024.

“The higher average e-money transaction size of RM43 in 2025, compared to RM33 in 2024, reflects growing user confidence, not only for everyday purchases such as transport and food and beverages, but also for higher-value payments,” BNM said.

Mobile banking continued to outpace internet banking, securing a 64 per cent market share as high smartphone penetration enabled convenient, on-the-go transactions.

Card payments also showed healthy growth, with debit card transaction volumes expanding 20.5 per cent, nearly doubling the 10.9 per cent growth in credit card transactions, though the average debit card ticket size declined to RM69 from RM78.

Contactless payments gained further traction, increasing 20.3 per cent to two billion transactions in 2025, driven by ease of use and speed, while DuitNow QR transactions doubled to three billion, supported by nearly three million registered merchant touchpoints across Malaysia.

BNM also highlighted strong growth in digital remittances, which surged 70.1 per cent to RM31.6 billion in 2025, accounting for 51.8 per cent of total outward remittances, with Bangladesh, Indonesia, and Myanmar being the top recipient countries.

Digital currency exchange services offered by non-bank providers rose 29.1 per cent to RM7.6 billion, facilitated by multi-currency prepaid cards and broader e-payment acceptance.

For the future, the central bank affirmed its commitment to maintaining secure and reliable payment and money services while expanding digital adoption across society.

“In line with growing global interest towards a tokenised economy, BNM will continue to advance work on asset tokenisation and digital money, including Central Bank Digital Currency, tokenised deposits, and ringgit stablecoins, which will be undertaken with the intention to establish a clear regulatory framework.

This approach provides industry certainty while safeguarding financial stability and consumer protection, which will position Malaysia as a trusted and forward-looking nation for responsible digital finance innovation, hence, translates into real economic gains and supports Malaysia’s broader economic transformation,” it said.

These developments mark a decisive shift towards a cashless and technologically advanced financial landscape, signalling Malaysia’s ambition to become a regional leader in digital payments and innovation-driven finance. - March 31, 2026

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