Malaysia had recorded 1.1 billion real-time payments transactions in 2021, facilitating an estimated US$434 million (RM1.91 billion) in cost savings for businesses and consumers, and unlocking US$364 million of additional economic output, equivalent to 1.11% of GDP.
It forecasted real-time transactions to grow at 3.6 billion in 2026, a CAGR of 26.9%, with net savings for consumers and businesses expected to reach US$637 million in 2026, generating additional economic output of US$954 million, or 0.2% of GDP.
According to the Prime-Time for Real-Time 2022 report published by ACI Worldwide Malaysia continues to accelerate the adoption of its real-time payment as well as introduce a stream of modern services, making it one of the most sophisticated real-time markets in the world.
The report, published in partnership with GlobalData and the Centre for Economics and Business Research, also stated that Malaysia is exceptional in the speed with which it has implemented nationwide real-time payments and its rapid adoption by banks and non-bank participants.