A recent global study by IDEMIA Secure Transactions (IST), conducted by Dentsu Insights, has found that 81% of Malaysians have adopted digital cards, primarily for convenience and security. The survey, which involved over 3,000 respondents from 12 countries, highlights the growing consumer trends in payment preferences.
The study, conducted between December 2023 and January 2024, shows that security remains a key concern for consumers, with 85% expressing worries about fraudulent transactions. Despite this, 67% indicated a willingness to use biometric checkout methods as a security measure.
Malaysians also demonstrated a strong interest in innovative payment features. According to the findings, 88% would view their bank more favorably if it offered a biometric card, and 87% are interested in obtaining a numberless physical card for added security. Furthermore, 64% favor eco-friendly cards, underscoring a shift towards sustainability in payment methods.
The study revealed that design and flexibility are significant factors influencing consumer choices. A notable 72% of respondents care about card design, with 83% expressing interest in metal cards and 84% preferring numberless cards. Additionally, 71% currently utilise digital payment cards, with 68% of those without one eager to obtain a digital card within the next three years.
IST Executive Vice President Julia Schoonenberg emphasized the importance of meeting evolving consumer expectations through innovative solutions. She stated, “Consumers have high expectations for their payment solutions… It is IST’s role to meet and exceed them, by offering ever more innovative solutions.”
As payment providers adapt to these trends, the study highlights the necessity for sustainable practices and innovative features in the evolving payments landscape.
