According to the report, the total mobile payments made for purchase transactions jumped to 23.7 million in 2018 from 1.2 million in 2017, with an average transaction value of USD 5.84; non-banks players accounted for 88.4% of these transactions.
In 2018, the number of non-bank e-money issuers offering mobile payment solutions surged to 47, from 37 in 2017. In addition, the number of subscriptions to non-bank mobile payment services increased to 10.4 million in 2018, from 0.8 million in 2017.
Non-banks processed a total of 31.3 million mobile payment transactions valued at MYR 1.3 (USD 318.9), compared with 1 million transactions and MYR 240.3 million (USD 58.9 million) in 2017. Financial transactions made via the mobile channel more than doubled to 257.4 million valued at MYR 100.1 billion (USD 24.5 billion) from 2018.
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