E-wallets are becoming more popular in Malaysia. Fintech Malaysia reported in 2019 that Malaysia had a total of 53 e-wallets, with the industry accounting for 19 per cent of the country’s FinTech space. Malaysia has been at the forefront of the digital revolution with rising e-wallet usage among the Southeast Asian country’s consumers.
With the shift away from cash and toward contactless payment methods, digital wallet solutions provide consumers with a handy way to manage their everyday finances and expenditures.
In this sharing, we will pick the top three most prominent mobile payment service providers in Malaysia and discuss their app’s.
Initially, the majority of Boost’s customers are smaller merchants who are only beginning to experiment with the idea of accepting cashless payments. It has targeted vendors at Pasar Malam markets across the country, and it has had some success in doing so so far. Locals can use Boost Protect insurance, boost missions to earn cash back, or e-Ang Pow to send money safely during the festive season. In addition, they can use the app to buy game credits, recharge mobile prepaid credits, buy vouchers, pay bills, and more.
Grab, best known for its E-hailing service, is also one of the country’s leading eWallet providers. Users can use it to make payments inside the app, including GrabFood, GrabMart, GrabExpress and more. Users can also use GrabPay to make QR payments at merchant stores, bills, prepaid reloads, etc. GrabRewards points are earned with every purchase made through GrabPay, and users can redeem these points for vouchers or discounts on their subsequent purchases.
Touch N Go E-Wallet has been known for letting users pay tolls on highways and parking to reduce traffic congestion and make the toll payment process more seamless and efficient. It is also comprehensive enough to pay bills, movie tickets, bus tickets and supported with third-party platforms such as Lazada. And the new TNG Go+ feature lets users invest the balance in their e-wallet account and get a return that will be credited to their E-wallet daily.
For Boost, their primary colour is red, which generates excitement for users to use the app. The main features are apparent at the bottom: Send, Scan & Pay, and Request.
For the Scan & Pay function, the app has made it 2 in 1 instead of separate it. Two sections at the bottom indicate ‘I SCAN THEM’ or ‘THEY SCAN ME’. The phrases used are easy to understand and match our real-life language.
Original Design
Some users want to change their phone numbers and are not allowed to do so, and only switching Telco is allowed. They need to create a new account instead. So, Boost eWallet is missing either the ‘change phone number’ or ‘delete account’ function because if users create another account, the existing account is still there.
The Redesign
Thus, it is suggested to add a function for users to change their phone numbers.
For Grab Pay, their app has a good hierarchy where the balance of eWallet is at the top, followed by the main features: Top Up, Scan to Pay, or Send. And there are self-explanatory instructions for users to know their eWallet status whether they need to upgrade now or upgraded successfully.
And the design for send money function also has a good user experience where users can choose a specific icon & message and slide to confirm the payment instead of just tapping on a static button.
Original Design
Currently, the send money function in Grab Pay doesn’t differentiate who uses or didn’t use the Grab app. So, users need to click on their contact to see whether the person owns a Grab app or not to transfer money to that person.
The Redesign
So, it is suggested to differentiate the grab users from non-grab users using different colors for their profile pictures.
Touch’ n Go eWallet’s primary colour is blue, which is also the connotation of trustworthy that suits their function as an eWallet to pay transportation, utility bills and manage the Touch N Go cards. The main features are at the top of the page so that users can easily navigate.
Overall, their features and buttons on the Home page are consistent in terms of design and arrangement. And they also show as many features on the home page so users can view them all on one page, and users can view the other features in the ‘More’ tab.
In the ‘More’ tab, there are also the recently used features that provide convenience to users without the need to scroll, and at the same time, it saves a lot of time.
Original Design
In their previous design before updates, the TNG Card features are visible on the home page. But after the updates, the TNG Card button has been replaced with ‘Cash Out’.
Users need to go ‘More tab’ and scroll to look for their cards.
The Redesign
Since the TNG card is a significant feature for users who frequently use their card daily for transportation or tolls, Touch N Go should put these features back on the home page for better navigation.
As part of the new normal of coexisting with the COVID-19 virus, it’s important to be extra cautious when in contact with other people during purchasing products physically in the store. Thus, it is important to make use of contactless cashless payment as an option to keep a distance from the rest.
