Malaysian Mastercard cardholders from will now have the ability to save their credit and debit cards in Google Wallet and make secure contactless payments in stores and online through connected smartphones and wearable devices.
The integration for Mastercard customers with CIMB Bank Berhad and Hong Leong Bank Berhad was enabled through the Mastercard Digital Enablement Service (MDES) technology, allowing payments to be completed with a secure digital token and removing the need for cardholders to share card details with merchants.
“Carrying heaps of cash is now a thing of the past for digitally-savvy consumers and those often on the go. As the world sees rapid digital enhancements, consumers are expecting better and faster payment solutions that can provide safety and simplicity to their everyday lives,” Beena Pothen, Mastercard Country Manager, Malaysia & Brunei, said.
“Mastercard is delighted to be one of the first to bring the convenience and security of Google Wallet to consumers in Malaysia, which will help drive greater adoption of digital payments in the country.
“Mastercard has also been at the forefront of enabling choice for cardholders, and this will bring more payment choices to consumers in the market in an increasingly digital-first world, so that they can pay anytime, anywhere using their preferred option.”
The announcement comes after the Mastercard New Payments Index 2022 showed 88 per cent of consumers in the Asia Pacific region have used at least one digital payment method in the last 12 months, with 43 per cent using a digital wallet.
“According to the e-Conomy SEA 2022 report, digital payments are gaining popularity and are expected to hit almost $200B in gross transaction value in Malaysia by 2025. With millions of Malaysians now using their phones every day to make payment, Google is excited to bring Google Wallet to Malaysia,” Marc Woo, Managing Director at Google Malaysia, said.
“With Google Wallet, Malaysians can tap to pay in stores or checkout seamlessly online. They can also easily access their boarding passes when they jet off for their yearend holidays. Google Wallet helps keep everything protected in one place, no matter where you go.”