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eWallet: Our Gateway To The Future

by Natasha Christopher

Image via Business Insider Malaysia

As time goes by, there have been various latest technologies that have evolved to cater to the needs and wants from the users itself. Recently, I’m even hearing about how advanced the world that some are scared robots might just take over our job! Definitely the movie,’ IRobot’ would be here sooner than expected. But of course, I’m not trying to make you worry, it’s just rumoured stories circulated by anxious humans. Can’t blame them tho!


Other recent updates in the technology world are the creation of eWallet. So exactly what is eWallet? 

An eWallet once in a while called an advanced wallet where it’s a protected spot that contains at least one cash purse. Your customers can subsidize an eWallet in a few unique ways. When financed, customers can utilize eWallets online to purchase products or administrations. 

In layman terms, basically, it’s a currency where you can store your money in replacement of the form of a digital platform. Just using it from the comfort of our smartphones, smartwatch, or tablet to purchase something at a store and you’re pretty much done. You can just call them mobile money transfer or mobile money. 

According to South China Morning Post, China has totalled 81 trillion yuan (50 trillion in Ringgit Malaysia) of transactions in mobile payment within the first 10 months of 2017. It’s no secret that Malaysians are jumping on the ewallet bandwagon too and it’s been keeping them happy. 

Image via iMoney

Image via iMoney

There are more pro’s than cons when it comes to the usage of ewallet. 


  1. Don’t have to carry big bulk of the cash 
  2. You don’t need ATM all the time
  3. Can track your spending
  4. Convenient 
  5. Promotions, discounts and cash backs are available 
  6. You have an upper leverage 
  7. Easier access 


  1. It may fail due to an internet connection 
  2. Hacking may happen 
  3. Constantly having to top-up money in 

You can find these ewallets being used widely by Malaysians. Let’s have a look; 

Boost App

Image via New Straits Times

Image via New Straits Times

Boost is a leading homegrown e-wallet application with over 2.5million users with online and offline merchants located in over 25,000 merchant touchpoints. Not only does Boost ensure you can purchase your items at a store but their new features will allow users to pay for parking in a revolutionary and unique way at most major streets around Klang Valley and pay for utility bills with partners such as Telekom Malaysia, Astro and Syabas to name a few. Users can also enjoy instant shake rewards after each payment as well as set auto-reminders. 

Plus, one of their feature presented in will complement the current services of buying prepaid top-ups and digital vouchers as well as gifting, free money transfers, and also “Go Dutch” with its unique split bills feature. 

Benefits: You can get cash back for every time you spend on Boost. It can be as low as 50 cents or as high as RM10. Has a wide range of supported merchants that makes it easier for the Boost app to be used. 


Grab Pay 

Image via SoyaCincau.com

Image via SoyaCincau.com

The all-new GrabPay is also joining in the ewallet industry as it is once renowned as Malaysia’s ride-hailing app service provider, have just expanded its functions. Going cashless is easy with the new GrabPay! And no, it’s not just for credit/debit card users. This Grab Wallet also comes with GrabPay Credits, which you can top up at any time. The best part is, this payment method isn’t just for your rides anymore. You can an array of selection to make your purchase from, for example, GrabFood, in-store purchase, credits transfer and prepaid top-up.  It’s all easily done from your smartphone. 

Benefits: Offset 100% of your bill with your GrabRewards points for a minimum purchase of RM4  at any GrabPay merchants. Partnered with trusted payment technology to prevent any fraud technology. Discount at certain outlet if paid with GrabPay.


Touch N Go 

Image via Fintech News Malaysia

Image via Fintech News Malaysia

This is probably the only eWallet that allows you to pay for tolls. All you need to do is add your Touch n’ Go card details to your eWallet to enjoy our brand new PayDirect™ feature. No need for any more physical card top-ups; just do it anytime, anywhere through your eWallet! So what is Pay Direct and what you can do with it? Well, its allows you to pass through tolls as usual with your Touch ‘n Go card deducted straight from your eWallet and you can use it to pay with 20% toll rebates. Not only can you say goodbye to long queues at toll reload lanes but also it has a zero reloading fee! 

You can even shop, play, and travel with the Touch N Go wallet so it’s not only restricted to just your vehicle needs alone. For example, book movies, eatery, pharmacy. Guaranteed fuss-free payments. The payment can also be using via RFID reader. 

Benefits: Makes your transportation journey a much smoother one and you can opt for activation of auto-reload to avoid the hassle of reloading manually. You can track your expenses and payments are all licensed by Bank Negara so it’s safe.  


Fave Pay 

Image via The Straits Times

Image via The Straits Times

A platform for any discounted items, travel and eatery shops. With the Fave Pay, even if you don’t have cash, you can pay your bills with your smartphone quickly and easily using the app. Either you’re eating at your favourite restaurants and cafes, or fitting in some retail therapy, it’s all convenient. No more swiping cards or counting cash. Just ask to pay with FavePay, and get rewarded with up to 20% cash back at the best places in town. 

Just simply scan the FavePay QR code at that particular outlet, type your bill amount and pay. You can even get cash back, and leave feeling like a boss!  Your personal companion to hunt for best deals and great meals on the go. 

Benefits: You have thousands of cheap deals to choose from and you can swipe to redeem without the usage of paper. Plus, 15% cash back max cap RM10 for your transaction. 


Razer Pay 

Image via Vulcan Post

Image via Vulcan Post

Razer Pay is the e-wallet app designed for youth and millennials. Go cashless with an e-wallet that lets you make payment across the most well-used retail and services in the region. Start using Razer Pay™ by topping up your e-wallet with funds or linking it with your preferred credit or debit card. You can now make purchases and enjoy promotions from thousands of retailers, transfer and receive funds from friends, and do so much more. 

With Razer Pay, you can buy your favourite games, entertainment, food, mobile top-ups and more. You can even add funds to your Razer Pay wallet easily via online banking or the eNETS. They even have partnered up with Visa with the hope of transforming payments in the gaming industry and to fast track for it’s Visa/Razer Pay users. In 2018, Razer Pay launched in Malaysia to 300,000 Malaysian downloads in just 48 hours

Benefits: Access the platform’s rewards, send and receive fund with few easy steps. Besides its known to be a platform for buying gaming digitally, Razer Pay is accepted at over 10,000 major retail and F&B outlets.  


Samsung Pay 

Image via Engadget

Image via Engadget

Introducing Samsung Pay, which poses a rather unique way of eWallet. It doesn’t store any funds in the app itself, it stores your payment card information and you can head over to your favourite store to purchase what you want. It’s basically your credit card in a smartphone but without bringing the actual card itself.  Samsung Pay uses Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technologies. Both NFC terminals and MST terminals accept payments of up to RM250 only. Samsung Pay works at almost any retailer in Malaysia, making shopping or dining easier and more convenient than ever before.

Although it’s only confined to selected Samsung branded smartphones and smartwatches, its variety on it is endless. As security is important to Samsung for its users, you can authorise payments with your eyes using the iris scanner, fingerprint authentication, and pin authentication. Allowing you to protect your transactions using Samsung Pay. 

Benefits: To look savvy, you can even purchase your items through the gear pay on the Galaxy Watch and could enhance your customer’s experience with a faster, simpler and secure way of paying. 


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