ShopeePay has raised its e-wallet balance limit in Malaysia to RM30,000, significantly increasing how much verified users can store and spend on the platform.
The limit, up from RM9,999, applies automatically to all existing users who have completed electronic know-your-customer (e-KYC) verification. New users and those yet to complete e-KYC will receive the higher limit once verification is done.
ShopeePay said the RM30,000 cap is currently the highest wallet limit offered by any e-wallet in Malaysia.
Alongside this, the daily transaction limit has also been lifted to RM30,000 from RM9,999. Monthly transaction limits have been raised sharply to RM180,000 from RM20,000, while annual limits now stand at RM360,000, compared with RM120,000 previously.
Despite the higher overall limits, individual payments, transfers and withdrawals remain capped at RM9,999 per transaction, in line with regulatory requirements.
Users are assigned a default daily transaction limit, which can be adjusted within the app. Any increase is subject to a three-hour cooling-off period as an added security measure, ShopeePay said.
For comparison, Merchantrade Money currently offers a standard wallet limit of RM20,000, up from RM10,000 previously, with users able to raise their combined limit to RM50,000 by linking the wallet to an AmBank Islamic Hybrid Current Account-i.
Meanwhile, TNG eWallet recently increased the limit for its GO+ savings feature to RM20,000 from RM9,500.
