ShopeePay wins at Malaysia Technology Excellence Awards for expanding inclusive digital finance

It broadens financial services through payments, credit, insurance, and investments designed for everyday Malaysians.

ShopeePay received accolades in the E-Wallet - Financial Technology and Fintech - Financial Technology categories at the Malaysia Technology Excellence Awards 2026 for the ShopeePay app. The recognition highlighted the platform’s role in expanding access to digital financial services through a single mobile application used by millions of consumers across Malaysia.

The ShopeePay app launched in March 2025 to address gaps in access to financial services in Malaysia. Access to banking, insurance, and investment products remains uneven, particularly for people living outside major urban centres or working in informal sectors. Delivery riders, small food stall operators, freelancers, and gig workers often encounter limitations when engaging with conventional financial institutions. The application brought several of these services together in a single mobile platform, allowing users to conduct financial activities through one interface.

Payment capability remains a central function of the platform. Transactions can be completed online or in physical locations through DuitNow QR, supporting cashless payments across participating merchants nationwide. The platform also introduced SPayLater, a Buy Now, Pay Later facility that allows purchases to be settled through flexible instalments according to a selected payment schedule. With options such as Pay Next Month or instalment plans of up to 12 months, and zero or low fees depending on the plan, SPayLater provides users with an alternative way to manage short-term expenses and better control their cash flow directly within the application.

The platform also incorporates services beyond payments. Insurance products are available directly within the application, including travel, personal accident, motor, and wallet protection coverage, allowing individuals to obtain protection through a fully digital process. Investment access is offered through Money+ and Invest, both of which allow users to start with as little as RM10. By bringing these services together, the same application used for everyday payments also serves as an accessible entry point to both investment and insurance products.

Account and transaction security form a core component of the platform’s architecture. Several authentication methods are supported, including Face ID, fingerprint verification, one-time passwords, and PIN authentication under a two-factor security framework. Additional controls include a six-digit ShopeePay PIN, Tap Secure transaction approvals, and an emergency Kill Switch that allows the wallet to be deactivated immediately if required.

Adoption increased following the application’s launch. More than 30,000 merchants across Malaysia currently accept ShopeePay transactions, whilst the platform records over 2.7 million active users. The ShopeePay app also ranked as the No. 1 Finance App on the Apple App Store for 17 consecutive weeks after launch.

The Malaysia Technology Excellence Awards, presented by Asian Business Review, recognises exceptional companies at the forefront of technological innovation and digital transformation, playing a pivotal role in driving Malaysia's rapidly growing economy to greater heights.

The Malaysia Technology Excellence Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2027 awards programme and be acclaimed for your company's outstanding contributions in pursuit of technological innovation, please contact Danica Avila (+65) 3158 1386 or [email protected].