ShopeePay Makes Online Financial Fraud Protection More Accessible for Malaysians, powered by Zurich
Available on the ShopeePay and Shopee apps, ‘Zurich Wallet Protection’ makes online financial fraud protection more accessible from just RM1.40/month
The benefit(s) payable under eligible product is protected by PIDM up to limits. Please refer to PIDM's TIP brochure on zurich.com.my or pidm.gov.my.
KUALA LUMPUR, 9 February 2026 - Shopee Pay today announced that it will be offering 'Zurich Wallet Protection' by Zurich General Insurance Malaysia Berhad (Zurich) on the Shopeepay and Shopee apps, making it accessible to millions of users nationwide. Starting from just RM1.40 per month, the plans safeguard users not only for ShopeePay, but also across all their other bank accounts, e-wallets and card payments, providing coverage against online risks such as fraudulent transfers, unauthorised transactions, losses from phishing, impersonation, card misuse, and even online shopping fraud.
In line with ShopeePay’s mission of ‘Simple Finance, Made For You,’ the launch of Zurich Wallet Protection on their platform reflects a commitment to make essential protection both affordable and easy to access for Malaysians from all walks of life. This comes at a crucial time as fraud-related crimes continue to rise. According to the Royal Malaysia Police’s Commercial Crime Investigation Department, 47,854 scam cases were recorded as of September 2025 and resulted in total losses of RM1.92 billion. This marks an increase of 12,486 cases compared to 2024.
Zurich Wallet Protection comes in two options, the Basic Plan and the VIP Plan:
| Basic Plan | VIP Plan | |
| Premium (inclusive of 8% SST) | RM1.40/month (Free for first month) | RM4.90/month |
| Eligibility | Malaysian Citizens, aged 18 and above | Malaysian Citizens, aged 18 and above |
| Coverage Category | Monthly Claim Limit (RM) | |
| Unauthorised Electronic Transfer Fraud | 3,000 (6,000 annually) | 10,000 (20,000 annually) |
| Unauthorised Transaction (Stolen Card) | 200 | 1,000 |
| Unauthorised Online Shopping Fraud | 200 | 1,000 |
Alain Yee, Chief Executive Officer of ShopeePay Malaysia said, “Online frauds are becoming increasingly sophisticated as fraudsters continue to adapt and find new ways to deceive the public. While we actively educate our users and the wider community on how to stay safe online, it’s equally important to offer a last layer of protection that is both affordable and accessible to everyone. Anyone can fall victim to a fraud, and often, it’s only realised when it’s too late.”
“We believe that offering Zurich Wallet Protection on the ShopeePay and Shopee apps is an important step towards strengthening digital safety for vulnerable Malaysians,” he added.
To encourage more Malaysians to experience the benefits of online protection, the Basic Plan includes a free first month, giving users the chance to try Zurich Wallet Protection at no cost.
Echoing Alain, Junior Cho, Country CEO of Zurich Malaysia and Chief Executive Officer of Zurich General Insurance Malaysia Berhad, added, “We are proud to partner with ShopeePay to launch Zurich Wallet Protection, expanding affordable and accessible protection against digital frauds for Malaysians. Guided by our Care For What Matters promise and enabled by our Zurich Edge capabilities, we have co-created a solution that customers can easily discover, purchase and manage within the ShopeePay and Shopee apps, giving them greater confidence when transacting online and helping them safeguard their hard-earned money from fraudulent activities.”
Here are the protection categories and examples to help users understand what Zurich Wallet Protection covers:
| Coverage Type | Example Scenario |
| Unauthorised Transfer | A credit cardholder notices an unauthorised transaction even though their card has never been shared or misplaced. |
| Phishing Scam | A user receives a fake email that looks identical to their bank’s official communication, prompting them to click a link and enter their OTP, resulting in a RM2,000 loss. |
| Stolen Card Misuse | After their wallet is stolen, a user discovers their card was used for online purchases without consent. |
| Online Shopping Fraud | A customer pays for a gadget online, but the item never arrives and the seller is unresponsive. This coverage applies to online purchases across all shopping platforms*, not just Shopee. |
| Impersonation Scam | A scammer impersonating a bank officer calls a user to obtain their OTP, leading to unauthorised transfers from their e-wallet. |
*T&Cs apply. Excludes social media-related incidents. Duty of care must be practiced.
The plans are underwritten by Zurich and conveniently accessible through the ShopeePay platform.
You can find ‘Zurich Wallet Protection’ on the ShopeePay app homepage, or on the Shopee app by going to ‘Me’ > ‘Insurance’. For more details, please click here.
About ShopeePay
ShopeePay is the all-new one stop digital finance hub for all Malaysians, enabling users to perform daily transactions, purchase in installments, secure insurance or takaful protection, and even wealth growth through ShopeePay Invest (regulated by Securities Commission Malaysia). ShopeePay facilitates speedy payment in stores, both online and offline, and with the option of SPayLater, users are offered to break down larger payments and select from flexible payment plans that fit their needs. Bringing people closer to accessing essential financial services, ShopeePay hosts various daily finance needs, including bill payments, insurance policies and fund transfers. By cutting out the clutter and optimising user experience, ShopeePay strives to bring simple finance solutions to all Malaysians.
About Zurich General Insurance Malaysia Berhad
Zurich General Insurance Malaysia Berhad (ZGIMB), as part of Zurich Insurance Group, is an established general insurer headquartered in Kuala Lumpur. ZGIMB caters to the protection needs of individuals and business owners through a wide range of general insurance solutions covering motor, travel, property, financial and personal lines, small to medium enterprises as well as large industrial risks. Together with its dedicated employees, agency force, distributors and partners, supported by its branch network in major cities nationwide, ZGIMB is committed to help its customers understand and protect their valuable assets and businesses from risks. Additionally, shariah-compliant general takaful solutions are made available to customers through its sister company, Zurich General Takaful Malaysia Berhad. For further information about ZGIMB, visit www.zurich.com.my
About Zurich Edge
Zurich Edge is a flagship digital partnerships proposition that delivers tailored and innovative solutions for customers within a partner’s ecosystem. With its open architecture full-stack platform, Zurich Edge enables seamless journeys, personalized experiences, and optimization capabilities to drive deeper engagement with digital consumers and unlock unparalleled value for partners’ businesses. Leveraging Zurich’s strong insurance expertise, Zurich Edge comes with a dedicated digital squad in each Asia Pacific market to co-create and launch insurance opportunities that deliver competitive advantages.