Domestic e-wallet platforms have stopped offering cash-back offers after people got used to using e-wallets.
When e-wallets were first introduced, domestic e-wallets offered cash-back offers to attract people to use them, but after people have gotten used to e-wallets, e-wallet platforms have stopped offering similar offers.
Currently, there are 4 major e-wallet platforms in China, namely Touch ‘n Go eWallet, Boost, GrabPay and ShopeePay, and the Internet Banking APPs of domestic banks also support the swipe code payment function, so there are also many people who choose to use their banks’ Internet Banking APP to pay.
The new crown epidemic has accelerated the growth of e-wallets and according to the Ministry of Finance of Malaysia, the number of e-wallet users will increase by 60% between 2021 and 2022. The transaction value of e-wallets already reached RM2 billion in 2021.
Are you already used to using e-wallets? Will you continue to use e-wallets to pay even if the e-wallet platform no longer offers cashback offers?
