Best Payments Companies in Malaysia
The 110 best Payments companies in Malaysia in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: TNG Digital.
Malaysia's Payments sector has $330 million in disclosed funding spread across 110 tracked companies, and the concentration at the top tells you everything about where the real weight sits. TNG Digital alone has pulled in $168 million, BigPay follows at $100 million, and together those two account for more than 80% of the sector's total disclosed capital. This directory ranks the best Payments companies in Malaysia by exactly that kind of disclosed equity funding and recent funding momentum, so the order reflects actual investor conviction, not marketing noise. The global payments market sat at $511.9 billion in 2022 and is forecast to reach $847.6 billion by 2027, a CAGR of 8.9%, driven by open banking, contactless adoption, and digital banking innovation. Malaysia's regulatory environment still carries gaps that shape how local operators structure their products, which is worth keeping in mind as you evaluate the field.
Soft Space at $36 million and Revenue Monster at $6 million round out the mid-tier, while Instapay Technologies and Bayo sit at the earlier end of the funding curve. I'd note that zero unicorns across 110 companies signals a market still in its consolidation phase, not its exit phase. Faster payments infrastructure and flight disruption payment mechanisms are the hot themes drawing operator attention right now, with carriers already facing disputes over currency and payment terms showing just how operationally fraught payment rails can get. So what separates the durable builders here from the noise? Mostly balance sheet discipline and regulatory positioning, which the funding figures above start to reveal.
Our analysis of 150 Payments companies
$44.9b in tracked funding; 96% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2021.
Ranked: Best Payments companies in Malaysia
| # | Company | Disclosed funding | Last round | Revenue | Employees | Founded | Founder | Recent signals |
|---|---|---|---|---|---|---|---|---|
| 1 | AEON Wallet Card-linked wallet for consumers | — | — | — | — | — | Kenji Fujita CEO | — |
| 2 | AppPay White-label mobile wallet solutions | — | — | — | — | 2017 | Desmond Tay Co-Founder & MD | — |
| 3 | AsiaPay Malaysia Internet payment service and technology provider | — | — | — | — | 2010 | Joseph Chan Founder & CEO | — |
| 4 | beezpay Prepaid cards for unbanked | — | — | — | — | 2017 | Ting My Ling CEO | — |
| 5 | Belive Mobile Provider offering mobile billing and payment solutions to businesses | — | — | — | — | 2006 | Alvin Ho Co-Founder & CEO | — |
| 6 | BestPay Payment gateway provider | — | — | — | — | 2015 | Ds Mohd.Amin Bin Abdul Nor CEO | — |
| 7 | BetterPay Diversified solutions for payment collections | — | — | — | 1 | 2021 | — | — |
| 8 | BIG Prepaid Prepaid and loyalty card | — | — | — | — | 2007 | Benyamin Ismail CEO | — |
Top 12 Payments companies in Malaysia
#1
Series A · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2017 · 47 employees$4.8Mraised▾
Wallet-enabled money transfer solutions for businesses and individuals. Enabled users to send, receive and transfer funds through app-based platforms. Provides card solutions to access funds for making payments overseas and payroll management solutions.
- Jun 2025Series A$3M
- Sep 2022Series A$4.8M
#2
Series B · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2012 · 222 employees$36.5Mraised▾
Provider of payment processing solutions for businesses. It provides payment gateways, white-label wallets, and POS terminals for accepting online or offline payments. It also facilitates fraud prevention, QR code payments, and e-wallet systems.
- Mar 2024Series B—
- Apr 2023Series B$31.5M
- Feb 2022Series B—
- Apr 2018Series B—
#3
Series A · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 1997 · 352 employees$168.3Mraised▾
App-based mobile wallet. Its services include online shopping, travel booking, bill payments, money transfer, toll payments, and QR transit. Users can reload the wallet via online banking, credit or debit cards, or purchase Touch 'n Go Reload PIN (soft pins) at the Customer Experience Centre. It allows users to keep a track of their expenses. The application is available on Android and iOS platforms.
- Jul 2022Series A$168.3M
- Jul 2021Unattributed—
#4
Series A · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2017 · 208 employees$100Mraised▾
Provider of digital wallet services for payments, transfers, and budgeting. It offers tools for managing finances, including expense tracking and categorization. The platform facilitates local and international money transfers. It also provides options for bill payments and prepaid top-ups.
- Aug 2021Series A$100M
#5
Late Stage · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2017$6.5Mraised▾
SaaS-based payment solutions for businesses. It features integration solutions for mobile-based payments, social media, and loyalty programs. It offers multiple products such as MyKad Recognition for AI-based KYC solutions, Face Recognition for customer identification & authentication, and Dynamic QR Code for offline tech solutions.
- Sep 2022PE$6.5M
#6
Series A · Petaling Jaya, Selangor · founded 2016 · 31 employees$2.2Mraised▾
Bayo provides Omni-Channel Digital Payment Solution Platform. It issues Bayo branded contactless prepaid card. Other solutions include mWallet, virtual cards, payment via QR codes, P2P money transfer, bill payments, EMV Level 2 payment application kernel for iOS, Android and Windows devices. PCI-DSS Compliant.
- Jun 2023Series A$2.2M
#7
Seed · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2017 · 21 employees$2Mraised▾
API-based payments and financial data aggregation solutions. It offers a solution that enables users to aggregate multiple financial data including bank accounts, credit cards, loans data, integration with government services data for automated eKYC and credit scoring models, payments, and more.
- Feb 2022Seed$2M
- Apr 2020Seed$46.4K
- May 2019Seed$52.6K
#8
Series A · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2000 · 38 employees$3.3Mraised▾
MyMy offers a prepaid debit card. It allows paying in the local currency. It also offers a mobile app to control insights. The app can also be used to disable transactions, resetting of PIN and reporting about the stolen card.
- Sep 2020Series A$2.4M
- May 2019Seed$915.2K
#9
Acquired · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2012 · 23 employees$6.5Mraised▾
iMoney is a financial product comparison platform. Users can search and compare credit cards, debit cards, personal loans, small business loans, and Islamic financing products. Users can also compare Islamic fixed deposits, savings accounts, investment products, and broadband plans.
- Sep 2014Series B$4M
- Oct 2013Series A$2M
- Jun 2013Seed$500K
#10
Seed · Subang Jaya, Selangor · founded 2021$281.5Kraised▾
Provider of integrated fleet payment and expense management solutions. It offers a prepaid business Mastercard card and a digital platform for managing vehicle expenses. The solution allows businesses to control spending, prevent fraud, and improve efficiency through real-time visibility and analytics. The platform supports various fleet-related payments, including fuel, repairs, and tolls, using an open-loop architecture accepted at most retailers accepting Visa/Mastercard. This enables streamlined payment processes and cost savings.
- Mar 2023Seed$281.5K
- Oct 2022Seed—
#11
Acquired · Petaling Jaya, Selangor · founded 2011 · 15 employees$46.4Kraised▾
Payment processing solutions for businesses. It builds and manages electronic payment collection platforms for businesses and merchants. It offers products such as agent-based payments, wallet-based payments, POS-based payments, and more.
- Apr 2020Seed$46.4K
#12
Funding Raised · Kuala Lumpur, Federal Territory of Kuala Lumpur · founded 2021$20Kraised▾
Provider of online payment solutions for businesses. The platform provides payment gateways, payment links, authentication methods, e-wallets, API integrations, recurring, subscription, and more.
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Payments coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
Riya reads income statements for fun. She covers the real money in a sector — revenue, growth, who actually earns — and never met a vague claim she didn't want a number for.