Cashless for all: E-wallets now a national habit for Malaysians across generations

In Malaysia, e-wallet usage has evolved from being a habit of the young to becoming a national practice embraced by individuals of all age groups. A new Ipsos Malaysia's E-Wallet Landscape 2026 report reveals that the fastest-growing segment of e-wallet users in the past year were those aged 35-44 and those over 45, with their usage increasing by nine and four percentage points respectively.

Meanwhile, the 25-34 age bracket, typically seen as the core e-wallet demographic, remained steady at 65%, and the 18-24 age group saw only a two-point increase to 64%.

Traditionally, e-wallets were perceived as a tool for younger generations, used for activities such as splitting bills or ordering food delivery. However, the survey conducted in April 2026 shows that e-wallet usage is now spread evenly across all adult age brackets, with the middle-aged group essentially on par with Gen Z and millennials. The report's authors assert that e-wallets have moved beyond being a tool for the younger generation and have become an everyday habit embraced by Malaysians at different stages of life.

For consumers in their 40s, 50s, and 60s, the data suggests that they are not alone in adopting this technology. With the convenience of cashless lanes and the expanded usage in everyday, offline spending like food and beverage outlets, toll and parking payments, and retail purchases, an e-wallet can save valuable time and eliminate the need for cash.

As these platforms mature and gain wider acceptance, the old excuse of limited acceptance options becomes less relevant. However, this broader adoption also raises concerns about digital literacy and scam awareness, particularly for the older demographic with larger account balances and less exposure to phishing tactics targeting the younger generation.