Mobile wallets have become a routine part of how people pay in Malaysia. The country's prepaid card and digital wallet market reached USD 8 billion in 2024 and is projected to grow to USD 14.19 billion by 2029. Within that environment, Boost plays a visible role for both everyday spending and online purchase flows.
This article explains what Boost Wallet is, how Malaysian consumers use the Boost app, and what merchants should know if they want to accept Boost as a payment method.
What is Boost Wallet?
Boost is a Malaysia-based mobile wallet designed for cashless payments, prepaid balances, and everyday financial transactions. It operates through the Boost app, which users download to their mobile device and link to a bank account or card. Once set up, the wallet can hold prepaid value and support in-store and online payment without repeated card entry.
By 2022, Boost had around 10 million users, representing close to one-third of Malaysia’s adult population. Alongside Touch ‘n Go and GrabPay, it consistently ranks among the top three e-wallet providers in the country. Adoption has been driven by ease of use, broad merchant acceptance, reward programmes, and support for government-backed initiatives.
Understanding Boost app, Boost Wallet, and Boost mobile
The terms are often used interchangeably, but they refer to slightly different layers:
- Boost app refers to the mobile application that users download, sign into, and manage on their phone.
- Boost Wallet is the stored-value account inside the app. Users prepay funds into this wallet and use it to make payments.
- Boost mobile is an informal reference to the mobile-first nature of the service rather than a separate product.
For merchants, the distinction matters less than the outcome. Payments are authorised through the Boost app and settled from the user’s wallet balance.
How Malaysian consumers use Boost
Boost Wallet is designed for frequent, low-friction payments. Usage patterns reflect daily spending habits rather than occasional, high-value purchases.
Popular use cases
Consumers commonly use Boost for:
- Everyday retail and F&B purchases such as cafés, convenience stores, and local shops
- Mobile top-ups and bill payments covering telco services, utilities, and prepaid credits
- Online shopping and e-commerce across local and regional stores
- Transportation, entertainment, and services including parking, ticketing, and selected digital subscriptions
Because funds are prepaid, many users treat the wallet as a spending balance rather than a direct extension of their bank account.
Payment experience
Boost focuses on fast mobile payment with minimal steps:
- QR code scanning is the most common flow. This supports both user-presented mode, where the customer shows a code for the store to scan, and merchant-presented mode, where the customer scans a code at the store.
- In-app payments allow users to confirm a purchase directly inside the Boost app, often with one tap.
- Auto top-ups can be enabled using a linked bank account or card, helping users maintain wallet balance without manual reloads.
- Rewards and cashback play a role in repeat usage. Boost Stars and promotional offers encourage consumers to route spending through the wallet.
These flows reduce reliance on card entry and PIN-based payment, particularly for mobile-first users.
Wallet types and limits
Boost offers different wallet tiers:
- Basic wallets have lower transaction and balance limits and require minimal verification.
- Premium wallets require additional identity checks and offer higher limits.
All Boost transactions are denominated in MYR. There is no multi-currency holding within the wallet, which is an important consideration for cross-border merchants.
How merchants can accept Boost Wallet
Accepting Boost allows merchants to align with local payment behaviour in Malaysia instead of relying only on international cards.
Payment integration options
Merchants can support Boost across several scenarios:
- In-store payments using QR codes. These can be static or dynamic and may integrate with POS systems depending on setup.
- Online payments through redirect-based flows, embedded checkout, or wallet-friendly payment pages.
- Subscription and auto-debit models where users authorise recurring payment from their wallet balance.
- One-time and recurring payments supported within the same acceptance framework.
The customer experience remains mobile-led, with confirmation handled inside the Boost app.
Integration methods
There are several ways to add Boost as a payment option:
- Integration via a payment gateway or merchant service provider that already supports Boost.
- Direct API or hosted checkout approaches for merchants with in-house payment teams.
- Scan-to-link or QR-based methods that bridge offline and online journeys.
Some merchants choose to work with regional providers such as Antom to manage Boost and other Southeast Asian wallets through a single integration, particularly when operating across multiple markets.
Settlement and refunds
From an operational perspective:
- Settlement is typically in MYR, with payout cycles depending on the acquiring arrangement.
- Full and partial refunds are supported and returned to the customer’s Boost Wallet.
- Chargebacks do not apply in the same way as card payments. Wallet transactions follow refund-led dispute handling instead.
- Refund and processing fees may apply depending on the provider.
Cross-border merchants should also factor in currency conversion and repatriation costs when settling MYR funds into a foreign bank account.
Why accept Boost Wallet? Benefits for merchants
- Access to a high-usage local payment method used daily by millions of consumers
- Lower checkout abandonment by offering a mobile wallet that customers already trust
- Higher approval rates compared to some cross-border card transactions
- Cost efficiency through reduced FX exposure and local payment routing
- Built-in promotional tools such as vouchers and loyalty incentives that can support acquisition
- Faster payment confirmation and clearer reconciliation compared with multi-step card flows
Cost and operational considerations
Accepting Boost also comes with cost and process implications that finance and payments teams should review carefully.
- Merchant fees typically include a per-transaction fee and may vary by volume and industry.
- Refund handling can affect cost if partial or repeated refunds are common.
- Settlement timing impacts cash flow, especially for high-volume merchants.
- Operational overhead includes onboarding, compliance checks, and ongoing support.
- Risk exposure is generally lower than card payments, with reduced chargeback handling.
- Optional BNPL features, such as Boost PayFlex, can expand purchase size but may introduce different fee structures.
To evaluate return on investment, merchants should compare acceptance costs against conversion gains, approval rate improvement, and reduced reliance on international card payments.
Conclusion
As Malaysia’s digital wallet market continues to grow, local wallets such as Boost are likely to remain relevant for both in-store and online payment. Merchants entering or scaling in Malaysia should treat Boost Wallet as a practical acceptance option.
Providers such as Antom can support Boost acceptance as part of a broader regional payment strategy, but the underlying decision starts with understanding how the wallet fits customer behaviour, cost structure, and operational needs.
