According to a Visa Consumer Payment Attitudes survey, 76% of Malaysians are shopping online at least once a month, increasing the percentage of Malaysians shopping online by 9% compared to last year. As for the millennials, 82% of them shop online at least once a month.
“Shopping online has evolved with the introduction of on-demand service providers such as Uber, Grab and Food Panda. 54% of Malaysians have used these services in the past year and convenience is the main reason cited for using such services, followed by being able to shop in the comfort of their own homes,” states KB Ng, Visa Country Manager for Malaysia.
“This invisible payment experience has transformed the cardholders’ experience because they need not whip out their payment cards or cash to pay for a product or service purchased because the cardholders’ card details are stored using card-on-file solutions. We believe the consumers’ payments experience will continue to evolve for the better as we see more payment providers striving to enhance the payment experience for Malaysians,” he continues.
On-demand services have also elevated consumers’ expectations as they expect faster delivery times. 52% of Malaysians use meal delivery on-demand services at least once a month and 53% expect their meal orders to reach them within 30 minutes.
In regards to future modes of payment, 57% of consumers who want to pay for meal delivery via on-demand services indicated they would like to pay through mobile wallets, 47% using wearables, 36% of them using a pre-registered payment card and 17% through WhatsApp.