e-money Payment Instrument in Malaysia

e-money is a type of payment instrument where it contains monetary value that has been paid in advance by the end-user.

With e-money, end-users can purchase goods and services from merchants. When users pay using e-money, the amount will be automatically deducted from their e-money balance. E-money comes in different forms and can be broadly categorised as card-based and network-based, which are currently accessible via the internet and mobile phones.

Below are the list of approved and licensed e-money issuers


  1. Alliance Bank Malaysia Berhad
  2. AmBank (M) Berhad
  3. Bank of China (M) Berhad
  4. CIMB Bank Berhad
  5. Citibank Bank Berhad
  6. Malayan Banking Berhad
  7. RHB Bank Berhad


  1. AEON Credit Services (M) Berhad
  2. Bandar Utama City Centre Sdn. Bhd.
  3. Celcom Multimedia (Malaysia) Sdn. Bhd.
  4. Chevron Malaysia Limited
  5. Com2U Sdn. Bhd.
  6. Digi Telecommunications Sdn. Bhd.
  7. Maxis Mobile Services Sdn. Bhd.
  8. Mobile Money International Sdn. Bhd.
  9. MAA Cards Sdn Bhd
  10. MOL Access Portal Berhad
  11. MRuncit Commerce Sdn. Bhd.
  12. PayPal Pte. Ltd.
  13. Raffcomm Sdn. Bhd.
  14. Silverlake Global Payments Sdn. Bhd.
  15. Touch ‘n Go Sdn. Bhd.
  16. Tune Money Sdn. Bhd.
  17. Webonline Dot Com Sdn. Bhd.
  18. Merchantrade Asia Sdn Bhd

MyDebit Payment System in Malaysia

MyDebit is a simple, secured, precise and cashless payments system. The payments system utilized regular ATM card to pay the merchant at the Point-of-Sale (POS) terminal.

Consumers only need to present their ATM card, key in the PIN number in order to complete the purchase transaction. Debit request is passed through the Inter-Member Network where the ATM Card, Personal Identification Number (PIN) and required funds for the purchase are verified by the issuing bank.

The payment will be deducted immediately from consumer’s savings or current account and deposit directly into the retailer’s or merchant’s bank account.

This provides consumers with better cash management and peace of mind as all transactions are PIN based. In addition, the new card is embedded with a sophisticated, tamper-resistant smart chip to protect consumers against the risk of fraud.

At the end of a successful transaction, the merchant will hand over the official receipt for the purchase.

Similar to the purchases made by any other payment method, refunds and exchanges are depending on merchant policy. Refunds can be processed through the MyDebit service providing the cardholder who made the purchase is present to authorize the refund transaction.

MyDebit are chip-based ATM cards issued by Malaysian banks. Some of the issuing banks are Affin Bank, Alliance Bank, Agro Bank, Ambank, Bank Islam, Bank Muamalat, Bank Rakyat, CIMB Bank, Hong Leong Bank, Maybank, Public Bank & RHB Bank.

MyDebit payments system is managed by MyClear (Malaysian Electronic Clearing Corporation Sdn Bhd), a wholly-owned subsidiary of Bank Negara, the Central Bank of Malaysia.