7 best virtual debit and credit cards in Malaysia (2026)

Key takeaways:

• Virtual cards in Malaysia let you pay securely without a physical card, using unique digital card numbers that reduce fraud risk for online and in‑app transactions.

• The main options include virtual credit, debit, and prepaid cards from banks and fintech platforms, each with different fees, FX rates, and controls.

• Airwallex offers virtual Corporate Cards built for Malaysian businesses, with multi‑currency support, competitive FX rates and spend controls that help you manage online and international expenses in one place.

Virtual cards are quickly becoming a default way to pay in Malaysia. Instead of waiting for a plastic card to arrive in the mail, you get a digital card number inside your banking or fintech app and can start spending online almost instantly.

For businesses, virtual cards are a practical way to control team spending, separate budgets and reduce fraud risk.

In this article, we’ll break down how virtual credit and debit cards work in Malaysia, compare seven of the best options available today, and show where Airwallex fits in if you’re looking for a modern, multi‑currency solution for business spend.

What is a virtual card?

A virtual card is a digital payment method that exists only on your phone or computer. This means you get all the functionality of a regular debit or credit card, without the physical card.

Your physical card has a 16-digit number, expiry date, and CVV printed on it. A virtual card has these same details, but they only exist digitally in your banking app or digital wallet. You can't lose it from your wallet, and no one can steal it from your bag.

Virtual cards work anywhere that accepts card payments online. You can use them on eCommerce sites, subscription services like Netflix or Spotify, and mobile app purchases. Some virtual cards also work with digital wallets like Apple Pay or Google Pay, letting you tap and pay in physical stores using just your phone.

Virtual credit cards vs virtual debit cards

Many Malaysians search for “virtual credit cards” online, but search results often show a mix of virtual credit and debit cards. Here’s a quick guide to help you tell them apart:

The biggest difference in virtual credit cards vs debit cards lies in borrowing versus spending.

A virtual credit card lets you borrow money from the bank up to a set limit. If you don’t pay off your balance each month, you incur interest. In contrast, a virtual debit card uses money you already have in your account. There’s no borrowing, no interest charges, and fees are generally lower.

Another difference lies in approval requirements: since credit cards involve lending, they usually require credit checks, income verification, and may come with annual fees. Debit cards are easier to get approved for since you’re simply using your own money rather than asking the bank for credit.

In Malaysia, true virtual credit cards for businesses (and not consumers) are relatively rare. HSBC offers one of the few genuine options, while most other providers focus on virtual debit or prepaid cards (which are debit cards that you need to load with money before spending).

The 7 best virtual cards in Malaysia

Here are the 7 best virtual cards available in Malaysia. We’ll start with a quick overview of each option, then dive into the details so you can see which card fits your business needs:

The information in this table has been reviewed to be accurate as of 13 February 2026.

1. Airwallex Corporate Card

Airwallex virtual cards are built for Malaysian businesses that spend internationally, whether that’s paying overseas suppliers or running global ad campaigns. Your card supports 20+ currencies, which lets you pay overseas suppliers without constant conversions or extra FX fees.

You can create unlimited virtual cards instantly from your dashboard, with full control over spending limits and where each card can be used. For example, you might set up a card just for Google Ads or Facebook Ads, capped at RM5,000 per month, so marketing spend never runs over budget.

Airwallex also connects directly with your expense management workflow. Receipts are captured automatically and transactions are categorised for you, which cuts down on manual reconciliation at month-end and saves your finance team hours of admin.

If you work with suppliers in different countries, you can hold balances in multiple currencies and pay directly from those balances. For example, you can pay your US invoices from your USD funds without converting back to MYR. When you do need to exchange currencies, Airwallex uses interbank FX rates to help you save up to 80% on FX fees.

2. Alliance Bank Visa Virtual Credit Card

Alliance Bank offers one of Malaysia’s few true virtual credit cards, but it’s for consumers and not businesses. It’s fully managed inside the allianceonline mobile app, so you can apply without visiting a branch. Just scan your MyKad, upload your income documents, and complete everything digitally.

What really sets this card apart is its Dynamic Card Number (DCN) feature. Your card number automatically refreshes every 30 minutes, making it extremely difficult for fraudsters to reuse stolen details. If a merchant database is ever compromised, your exposed number becomes useless shortly after.

Approval is typically instant once you meet the income requirements. After that, you can start using the card right away for online purchases or add it to Samsung Pay or Google Pay for contactless payments. There’s also no annual fee.

3. HSBC Virtual Card

HSBC Malaysia offers the only virtual credit card for businesses in the country. It’s built for companies that handle frequent online or supplier payments: you can generate separate virtual cards for different teams or projects, each with its own spending limits and controls, which makes tracking expenses and reconciling accounts much easier.

If you work with overseas suppliers, you can issue cards in different currencies to reduce unnecessary conversions and manage foreign exchange more effectively. Each transaction also comes with detailed data that syncs with your accounting systems, helping finance teams close the books faster.

It’s especially useful if you’re moving away from manual processes like purchase orders or cheques. Instead, you can give department heads virtual cards with predefined limits, so they can pay vendors directly while you retain visibility and control over every transaction.

4. Wise virtual card

Wise offers a virtual debit card designed for individuals, freelancers, and small teams. It’s popular with people who earn or spend in foreign currencies because you can hold 40+ currencies in one account and pay using the mid-market exchange rate (the same rate you see on Google), with no hidden markup.

However, the Wise account doesn’t come with features like team controls, approval workflows, or expense management. That means you can’t assign cards to employees, set department budgets, or track business spending in one central dashboard.

You get access to the virtual card immediately after your account is approved, and the app shows exactly how much each purchase costs in MYR, even when you’re paying overseas. A physical card is optional, but many users rely on the virtual version for subscriptions, online shopping, and international services.

5. BigPay virtual card

BigPay is a consumer-focused digital wallet and prepaid card that’s best suited for personal spending. The virtual card links directly to your BigPay wallet, which you top up in MYR before making purchases.

One of its main perks is earning AirAsia points on eligible spending, which can be useful if you fly frequently. Foreign transaction fees are also lower than many traditional bank cards, making BigPay a reasonable option for international online shopping.

The app gives you instant spending notifications and simple budgeting tools, so it’s easy to see where your money is going. Because it’s prepaid, you can only spend what you’ve loaded.

6. MAE virtual card

MAE is Maybank’s consumer e-wallet, and it comes with a virtual Visa card designed for everyday personal spending. If you’re already a Maybank customer, MAE plugs straight into your existing accounts, letting you move money instantly between your bank balance and MAE wallet.

The virtual card supports automatic top-ups, so you can set it to reload from your Maybank account when funds run low. For overseas spending, MAE’s exchange rates are generally better than Maybank’s standard debit cards.

The app also provides basic spending insights, helping you track where your money goes each month. If you choose to order a physical card, you’ll have access to Maybank’s wide ATM network as well.

7. AEON virtual credit card

AEON’s virtual credit card is a consumer feature for existing AEON cardholders, and it’s only available to AEON customers.

If you already have a card with AEON Credit Service (M) Berhad, there’s no separate application process. The virtual card shares the same credit limit as your physical card and doesn’t come with additional fees beyond your usual card terms.

Its main benefit is security. You can use the virtual card number for eCommerce sites or recurring subscriptions, keeping your physical card details private. This is especially useful when buying from unfamiliar websites: even if those details are compromised, your physical card remains protected.

How to choose the right virtual card

Selecting the right virtual card depends on how you plan to use it. Here are four factors to consider:

1. Fees and FX

When evaluating virtual cards, the first thing that might come to mind is annual fees. Some cards are free, while others charge higher fees. But annual fees are only part of the picture. More importantly, foreign exchange and transaction costs can add up quickly, especially for cross-border payments.

Our Corporate Card comes with $0 annual fees, and it offers competitive interbank rates that can save you up to 80% on FX fees. With an Airwallex account, you can also pay suppliers in 120+ countries via local payment rails, avoiding costly SWIFT fees and making international payments faster and more cost-effective.

2. Controls and security

Virtual cards can help businesses manage spending and reduce risk, but features vary by provider. Look for cards that let you set spending limits at daily, weekly, or monthly intervals, and that allow you to instantly freeze or unfreeze cards through a mobile app if misuse is suspected.

Some providers like Airwallex also offer merchant category restrictions, letting you issue cards that only work for certain types of purchases, like office supplies or advertising. Choosing a card with these controls can make expense management easier and help prevent unauthorised spending.

3. Wallets and acceptance

Digital wallet support makes payments more convenient. Check whether your card works with Apple Pay, Google Pay, or Samsung Pay if you prefer tap-and-go payments. Not all virtual cards support all wallets, so verify compatibility before applying.

Digital wallets aside, DuitNow QR compatibility is increasingly important in Malaysia as more merchants adopt QR code payments. International acceptance is also key if you pay overseas suppliers or service providers.

4. Multi-currency and travel

If you travel frequently or pay international suppliers, multi-currency support is crucial. Airwallex lets you hold balances in 20+ currencies and spend directly in local currencies, helping you avoid unnecessary conversion fees.

This is particularly useful for businesses that pay overseas vendors regularly. For example, if you frequently buy from US suppliers, you can hold US dollars in your account and pay directly in USD. This avoids conversion fees and gives you more control over exchange rates.

Exchange rate transparency matters too. Some providers show you the exact rate you'll get before you confirm a transaction. Others apply the rate at the time of processing, which can lead to surprises. With Airwallex, you can see the rate upfront, choose when to convert currencies, and even lock in exchange rates for future payments.

How to apply for a virtual card in Malaysia

Getting a virtual card in Malaysia is generally faster and simpler than applying for a traditional card. Most providers let you complete the entire process digitally through a mobile app, so there’s no need to visit a branch.

While the exact process varies slightly by provider, it generally follows a few simple steps:

Step 1: Download the mobile app

Most virtual card applications are done entirely through the provider’s app, available on the App Store or Google Play.

Step 2: Verify your identity

Scan your MyKad using your phone’s camera. Some providers may also request a selfie to confirm your identity.

Step 3: Upload required documents

Depending on the card type, this could include payslips, EPF statements, SSM registration, or business documents.

Step 4: Submit your application

Approval can be instant for debit cards or take a few days for credit cards.

Step 5: Access your card

Once approved, your virtual card details appear in the app immediately. You can start using it for online purchases or add it to a digital wallet for contactless payments.

Documents you’ll need to apply for a virtual card

The documents you need depend on the type of card and your employment status. Here's what different applicants typically need to provide.

For salaried employees:

• MyKad: Front and back, valid and not expired.

• Income proof: Latest three months' payslips or EPF statements.

• Bank statements: Some providers require three to six months of statements.

For self-employed individuals:

• MyKad: Front and back, valid and not expired.

• Business registration: SSM registration or business licence.

• Income proof: Bank statements showing regular income, tax returns, or audited accounts.

For business cards:

• Company registration: SSM certificate or equivalent business registration.

• Director's IC: MyKad of authorised signatories.

• Business bank statements: Three to six months of company account statements.

• Business proof: Invoices, contracts, or other documents showing business activity.

Frequently asked questions (FAQs)

Which Malaysian banks currently offer virtual credit cards?

Most Malaysian banks don’t offer dedicated virtual credit cards, but Alliance Bank Malaysia is an exception. It provides an in‑app virtual credit card that you can apply for entirely digitally. Other banks may offer virtual card numbers linked to physical credit cards, but true standalone virtual credit cards remain rare in Malaysia.

Does Sales and Service Tax apply to virtual credit cards in Malaysia?

Yes, under Malaysia’s Service Tax rules, the RM25 credit card service tax applies per credit/charge card account per year, regardless of whether the card is physical or virtual. 

In practice, most banks treat a virtual card that’s tied to an existing physical card as the same card account, so you don’t get charged an additional RM25 just for adding a virtual card. However, if a virtual card is issued as a separate standalone credit card product, it can attract its own RM25 service tax unless the issuer explicitly waives or absorbs it

Can I use my virtual card with Apple Pay and Google Pay?

Yes, most virtual cards in Malaysia can be added to Apple Pay or Google Pay, allowing you to make contactless payments or pay online wherever these wallets are accepted. However, compatibility can vary by provider, so it’s important to check whether your specific virtual card supports the digital wallet you plan to use.

Will my virtual credit card work with DuitNow QR payments?

DuitNow QR compatibility depends on whether the merchant's payment system accepts credit cards through the QR gateway. Not all virtual cards support DuitNow QR payments, and even those that do may only work with certain merchants.

Can foreigners living in Malaysia apply for virtual cards?

Foreigners living in Malaysia can apply for virtual cards, but eligibility depends on the provider’s requirements. Most banks and fintech platforms require a valid MyKad or local residency documents, so non-citizens may need additional identification or proof of address to qualify.

Do virtual cards work for recurring payments like Netflix and Google Ads?

Yes, virtual cards in Malaysia can generally be used for recurring payments such as subscriptions to Netflix, Google Ads, or other online services. However, some providers may limit the number of recurring transactions or require specific settings.

Can businesses create single-use virtual cards and restrict merchant categories?

Not all virtual cards offer this, but with Airwallex, you can create single-use virtual cards and set merchant category restrictions. This lets you control spending by limiting cards to specific types of purchases, such as advertising or office supplies, and ensures each card can only be used once or for a designated purpose.

How quickly can I get approved for a virtual card in Malaysia?

Approval timeframes vary by card type. Virtual debit cards and prepaid cards often approve instantly after identity verification. Virtual credit cards typically take one to three business days as providers need to verify your income and run credit checks through systems like CCRIS or CTOS.

Sources:

1. https://www.alliancebank.com.my/personal/Cards/Credit-Cards/visa-platinum-virtual-credit-card

2. https://www.business.hsbc.com.my/en-gb/solutions/virtual-card 

3. https://wise.com/my/virtual-card/

4. https://bigpayme.com/features/card/

5. https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/services/digital_banking/mae_card.page

6. https://myaeoncredit.com.my/wp-content/uploads/2024/07/Eng-Frequently-Asked-Questions-AEON-Virtual-Credit-Card-R2.pdf?uuid=b1d87620-d9ab-40df-96ea-f7fd8b4aebc7

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).