Malaysia’s 7.7 million Gen Zs, who make up 23% of the nation’s population, are redefining financial habits, digital lifestyles and brand loyalty, according to Visa Malaysia’s Gen Z Decoded study.
Described as “pragmatic optimists”, Gen Z Malaysians are deeply rooted in family values while being digitally savvy and financially cautious as the study found that 61% are actively pursuing financial goals, from budgeting and side hustles to building emergency funds and retirement savings. More than half (53%) are investing in gold or digital currencies, highlighting openness to alternative wealth-building tools.
“Gen Zs are emerging as the next wave of earners, spenders and cultural influencers.
“Trust, security and authenticity are central to engaging with this generation, and Visa is committed to building products that empower Gen Zs to transact confidently in a digital-first world,” said Previn Pillay, Visa’s Malaysia Country Manager.
Pillay emphasised that family remains a cornerstone of financial discipline, with many Gen Zs crediting their budgeting and saving habits to parental lessons.
“Many also contribute to household needs, underscoring their sense of responsibility and shared financial commitment.
“At the same time, digital payments are firmly their preferred way to pay. Over half (53%) opt for digital-first tools such as e-wallets and debit cards, while interest in credit cards is rising. Visa said innovations such as Click to Pay and Payment Passkeys are tailored to Gen Zs’ demand for seamless and secure transactions,” he said.
He added that their lifestyles are also tightly bound to digital culture. TikTok, YouTube and Instagram dominate their daily routines, with nearly half (48%) making purchases directly from social media ads and 44% trusting recommendations from influencers they follow. Entertainment fuels their spending too: 61% identify as gamers and 56% as music enthusiasts, often engaging in in-game purchases and merchandise buys.
“Gen Zs are uniquely pragmatic, value-driven and intentional,” Pillay added. “Brands must rethink how they connect with this discerning generation — not just through social platforms, but by offering seamless, secure experiences that reflect both purpose and personality.”
