Launch of Apple Pay in Malaysia

It was announced on Tuesday that Apple Pay will be made available to Malaysian users through the country’s iPhone, iPad, Apple Watch, and Mac platforms. Visa and MasterCard from AmBank, Maybank, and Standard Chartered Bank clients in Malaysia may use Apple Pay right now; American Express cards will be accepted later this year.

For merchants, Cupertino-based startup has teamed with retail locations like as KFC, Maxis and McDonald’s as well as online marketplaces like Shopee, Sephora, Atome, Adidas, and Village Grocer on the retailer side.

Ambank, a local bank, disclosed news regarding Apple Pay’s introduction in the nation a few days before the official announcement.

In contrast to other contactless payment methods that require consumers to input their PINs for purchases above RM250 ($56.1), according to local media reports, Apple Pay users may easily validate these transactions using Face ID, Touch ID, or a password. Other contactless payment methods Customers’ banks determine the restrictions for Apple Pay.

After Singapore’s debut of Apple Pay in 2016, Malaysia became the second Southeast Asian nation to acquire the service.

Customers in Malaysia, according to numerous bank reports, are quickly embracing digital payments. A 30% year-on-year increase in digital transactions is expected in 2021. According to a Bank Negara Malaysia survey, the typical Malaysian conducted 221 digital transactions last year, up from 170 in 2020. Malaysia’s e-commerce gross transaction value is expected to reach RM25.2 billion ($6 billion) by 2022, according to research conducted by MDEC and IDC in the nation.

The European Union is suing Apple over limits on the use of the iPhone’s NFC stack to develop Apple Pay rivals.