A pie chart from Fintech Malaysia shows that e-wallets make up almost 19% of the Malaysian fintech industry.
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The industry will only continue to flourish as demands rise, particularly after the government announced an allocation of RM750 million last year to promote the adoption of e-wallets in Malaysia as part of a series of economic stimulus under the PENJANA recovery plan to revitalise the economy crippled by the COVID-19 pandemic.