Netizen eXperience: Malaysians prefer e-wallets and debit cards as payment methods amid the COVID-19 pandemic

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KUALA LUMPUR, 23 February 2021 – Netizen eXperience recently conducted a survey which found an encouraging number of Malaysians moving towards e-wallet and debit card transactions, especially since the enforcement of the Movement Control Orders (MCO).

“We recently carried out a survey on more than 1,000 Malaysians between the age of 18 and over 65. Most people still prefer cash transactions – especially before the enforcement of MCO,” said Netizen eXperience User Experience Consultant, Alvin Chai.


Netizen eXperience User Experience Consultant, Alvin Chai

The key factors that contribute to this are Malaysians’ concerns over security and privacy issues, and the possibility to overspend with cashless payment methods, added Chai.

Netizen eXperience (NX) recognises that the user experience (UX) and user interface will need more focus on alleviating these concerns and the company believes it is equipped with the expertise.

“Post MCOs, e-wallets and debit cards are becoming fast favourites and the main reasons are because of contactless payments and convenience,” he said, adding that the shift was a step in the right direction with the buzz of digital banking licensing in Malaysia.

The survey also found the use of cashless payment methods being more prevalent in those aged between 18 and 54, compared to those aged 55 and above.


Recent survey conducted by Netizen eXperience shows the preferred payment method of Malaysian during the enforcement of the Movement Control Orders (MCO).

In the Budget 2020 tabling, Malaysian Finance Minister Tengku Zafrul Aziz announced that Bank Negara Malaysia was in the midst of finalising the licensing framework for digital banks and the central bank plans to issue up to five digital bank licences.

“As user experience researchers, we see Malaysia’s e-wallet players leaning towards digital banking but the more traditional financial institutions – banks and insurance firms – are a little hesitant. Change can be a little difficult but NX wants to assure them that we are here to make the progression easier, while being completely customer centric.

Mercedes-Benz USA President and Chief Executive Officer, Steve Cannon is quoted as saying: “Customer experience better be at the top of your list when it comes to priorities in your organisation. Customer experience is the new marketing.”

Recognising this importance, NX comes into play with its purpose and aspiration to improve UX by building user-centric products through innovative tools and emphasising human-centred approaches.

“We work from end to end for our clients when our services are engaged, and we stand out because our development process begins with designing the UX. We make it our mission to build something that can enhance the experience of the customer using it,” said Chai.

The research and strategy consulting firm in Asia was set up in 2011 and specialises in all things digital – development of mobile apps, launching digital features for its clients and even building websites. However, what drives NX’s operations most is its key-strength in being able to track digital behaviour of consumers and carry out data analytics following a digital-product launch.

“We leverage our user research, user testing, UX design, digital analytics and optimisation as well as web development skills to help our clients maintain and even draw customers,” Chai added.

Chai explains that NX’s software engineering focuses on providing cloud-based solutions. “This means our planning and architecture process caters for the developed application to run in the cloud and makes it easily scalable,” he added.

“NX follows a consumer’s journey while he or she uses the digital product, and we work towards understanding your users’ needs so we can improve the design of your product and achieve the full potential of what it can and is supposed to do,” Chai explains.

Since its establishment, NX has gained an extensive number of corporate clients, including listed companies. A majority of them are involved in financial services, the likes of banking and insurance firms, and healthcare. The company has been actively providing analytics and UX consultancy services to enterprises in the Asia Pacific region while also conducting cross-border studies with partners from the US, Europe and Japan.