What Setel does

Setel is a Malaysian mobile-first super app for motorists, operated by Setel Ventures Sdn Bhd (Company No. 201901000991) from its Kuala Lumpur headquarters in Bangsar South City. Founded in 2018 as a fuel payment solution for PETRONAS stations, the platform has expanded into a comprehensive motorist and daily-life super app covering fuel payment (including BUDI MADANI subsidised RON95 and Diesel), one-tap fuelling, street parking, EV charging, 24/7 auto assistance, car service booking, motor takaful and insurance (via Generali and Etiqa), digital road tax renewal (via Obrigt), café Mesra pick-up, and, most recently as of May 2026, bill payments to 25+ billers. Underlying technology is built on Malaysia's national digital payment infrastructure, including DuitNow QR and DuitNow P2P transfers, with BNM-regulated e-KYC verification enabling wallet limits up to RM5,000.

The product architecture is platform-plus-modules: the core Setel App is accompanied by Setel Lite for low-end Android devices, Setel Watch App for Apple Watch, and Setel Mini embedded within Touch 'n Go eWallet. The Setel Wallet serves as the financial backbone, with CardTerus as a credit/debit card pass-through (up to 6 saved cards), Family Wallet for shared household access across Mesra membership tiers (Junior, Explorer, Hero), and the Mesra Rewards loyalty programme redeemable at over 200 partner merchants including kedai Mesra convenience stores at PETRONAS stations. Voice AI for hands-free refuelling and e-KYC verification represent the primary technology investments.

Revenue is generated through transaction fees and commissions from PETRONAS stations and onboarded merchants, a 1% convenience fee on personal credit card top-ups (since December 2024), subscription programme recurring fees, advertising services, and Mesra Rewards-linked promotional revenue. Distribution is product-led via direct app-store listings (Google Play, App Store, Huawei AppGallery, Vivo App Store) supplemented by the Touch 'n Go eWallet integration, PETRONAS physical station presence, and government programme partnerships such as SIM@PAX. The primary customer base comprises individual Malaysian motorists using the app directly, with secondary segments including insurance policyholders, EV owners, and bill payment users; an explicit B2B offering also exists for business fuel, parking, EV charging, cashless payments, corporate gifts, Mesra Rewards, and advertising.

Name

Setel

Legal name

Setel Ventures Sdn Bhd

Website

https://setel.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Setel is a Malaysian mobile-first super app operated by Setel Ventures Sdn Bhd in close partnership with PETRONAS, serving Malaysian motorists with fuel payments, parking, EV charging, motor insurance, road tax renewal, bill payments, and a DuitNow-integrated digital wallet and Mesra Rewards loyalty ecosystem.

Ownership category

akta.pro rank

Product category

Mobile Payment Platform

NAICS

Gasoline Stations with Convenience Stores (457110)

SIC

Retail-Auto Dealers & Gasoline Stations (5500)

akta.pro primary industry

Vehicle Services On‑Demand Platforms (Car Wash, Maintenance, Roadside) (BPAMAHAL)

akta.pro secondary industry

Fuel Stations with Convenience Retail (Forecourt C-Stores) (CRANAJAB)

Keywords

• Mobile payment app
• Digital wallet
• Fuel payment services
• Motorist super app
• Loyalty rewards platform

Headquarters

HQ city

Kuala Lumpur

HQ country

Malaysia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales

Revenue model

1. Transaction Fees & Commissions: Setel earns commissions from PETRONAS stations and onboarded merchants for each transaction processed through the app. Additional revenue from transaction limits and processing fees.
2. Subscription Program: Setel offers a subscription service providing fixed monthly payments in exchange for additional Mesra points, cashback, and vouchers on transactions.
3. Convenience Fees: 1% convenience fee applied to personal credit card top-ups (starting 2nd December 2024). Auto top-ups and CardTerus payments are exempted from this fee.
4. Advertising & Promotional Services: Setel offers advertising services to business partners and runs promotional campaigns that drive user engagement and transaction volume.
5. Mesra Rewards: Points-based loyalty system where users earn Mesra points on transactions, redeemable for Setel Wallet cash or partner rewards.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels7 records

Core offering

Setel operates a mobile-first super app for Malaysian motorists that consolidates fuel payment, parking, EV charging, motor insurance, road tax renewal, auto assistance, car service booking, bill payment, and digital wallet services in a single platform. The app is built around the PETRONAS fuel station network and the Mesra Rewards loyalty programme, supporting one-tap fuelling, DuitNow QR payments, and government fuel subsidy (BUDI MADANI) management.

Product overview

Setel is a platform-plus-modules architecture built around the Setel App as its primary product, supplemented by lightweight variants (Setel Lite for low-end devices, Setel Watch App for wearables), and a growing ecosystem of connected services. The core app serves as a super-app for Malaysian motorists, integrating fuel payment (including BUDI MADANI subsidy management), parking, EV charging, auto assistance, car service booking, motor takaful/insurance, road tax renewal, and bill payment. The Setel Wallet (e-wallet) and Mesra Rewards loyalty programme form the financial infrastructure underpinning all transactions, with CardTerus (card pass-through), DuitNow QR (national QR payment), Family Wallet (shared access), and Scan & Pay providing multiple payment mechanisms. The product portfolio includes B2C features (motorist-facing services), B2B offerings (business fuel, payments, parking, EV charging, Mesra Rewards, gifts, and advertising), and a subscription programme for premium benefits. The platform operates exclusively on PETRONAS station infrastructure and affiliated merchant networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Setel App

Quantifiable outcome

• 10% cashback on bill payments (capped at RM10/month until July 2026)
• +3 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature8 records

Partnerships

Six partnerships are on record, tiered flagship, core and supporting.

• Government of Malaysia (Servis Ihsan Madani @Petronas AutoExpert Programme)flagshipStrategic or Co-development Partner · 10 March 2026Setel serves as a booking platform for the SIM@PAX government programme offering 10-30% vehicle service discounts across 124 automotive workshops nationwide. The programme is funded through government subsidies and automotive industry contributions, targeting cost reduction for Malaysians during Hari Raya Aidilfitri.
• PETRONAScoreStrategic or Co-development PartnerPETRONAS is Setel's primary fuel partner and parent ecosystem. Setel serves as the digital payment solution for PETRONAS stations, enabling one-tap fuel payment and Kedai Mesra convenience store purchases. The partnership includes exclusive access to PETRONAS's national fuel station network and co-marketing through the Mesra Rewards loyalty programme. Setel Ventures Sdn Bhd operates as the digital innovation arm connected to PETRONAS.
• Touch 'n Go eWalletcoreTechnology or IntegrationSetel Mini is integrated into the Touch 'n Go eWallet app, extending Setel's services to TNG's established user base. This partnership provides Setel access to TNG's distribution network and user base, while TNG enhances its offering with Setel's fuel payment capabilities.
• Generali (Insurance Provider)supportingTechnology or IntegrationSetel offers motor insurance purchase and renewal through its app in partnership with Generali. Users can fulfill renewal criteria and purchase insurance coverage through the Setel platform, streamlining the vehicle insurance process for Malaysian motorists.
• Etiqa (Insurance Provider)supportingTechnology or IntegrationMotor insurance purchase and renewal services are also available through partnership with Etiqa, providing users with insurance options that can be managed directly within the Setel app alongside other vehicle-related services.
• Mesra Rewards Programme PartnerscoreChannel Partner/ Reseller/ DistributorExtensive network of merchants accepting Mesra Rewards points including SITI KHADIJAH fashion outlets, CARs cafes, PETRONAS AutoExpert workshops, various F&B partners (DTOX, Tealive, Eight Ounce Coffee, etc.), automotive services, health & beauty retailers (Alpro Pharmacy, OSIM), and e-commerce platforms. Over 200 merchant locations across Malaysia.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Touch 'n Go eWallet: Malaysia's largest e-wallet, also Setel's distribution partner via Setel Mini. Touch 'n Go offers a much broader payments and lifestyle scope (toll, transit, retail) and competes directly with Setel's general digital payment and bill payment features, though Setel retains differentiation through PETRONAS fuel integration.
• GrabPay (Grab Malaysia): Grab Malaysia's e-wallet operates as part of a larger super-app spanning ride-hailing, food delivery, and financial services. Competes with Setel on bill payment, QR payments, and merchant acceptance while offering a much broader non-automotive ecosystem.
• MAE by Maybank: Maybank's mobile banking app with integrated e-wallet functionality, serving as both payments and everyday banking app for millions of Malaysians. Competes with Setel Wallet for bill payments, fund transfers, and broader digital payment use cases, with bank-led trust advantages.

Emerging players

• GCash: The Philippines' leading e-wallet and super-app, a regional comparable for the kind of consolidated wallet Setel is building for motorists. Useful as a regional proxy for super-app monetisation, though it does not compete directly in Malaysia.
• ChargEV (Yinson GreenTech): Malaysia's largest EV charging network operator with its own app for locating and paying at ChargEV stations. Competes with Setel's EV charging feature within the same Charge Point Operator ecosystem and could erode EV-specific user engagement on Setel.
• GoPay (GoTo/Gojek Indonesia): Indonesian e-wallet embedded in the Gojek super-app spanning ride-hailing, delivery, and payments. Useful as a Southeast Asian comparable for super-app economics, though Indonesia operates in a different regulatory and competitive environment than Malaysia.

Regional players

• Shell Malaysia (Shell App): Shell's Malaysian fuel retail app with loyalty, payment, and partner offers at Shell stations nationwide. Operates as a competing station-based digital experience targeting the same Malaysian motorist demographic, though with smaller domestic footprint than PETRONAS.
• BHPetrol App (Boustead Petroleum Marketing): BHPetrol's loyalty and fuel payment app for Malaysia's second-largest fuel retailer. Operates a parallel station-loyalty ecosystem to PETRONAS, and would be a direct substitute for Setel if users shift to BHPetrol-branded stations for their primary fuel purchases.

Direct peers

• ParkEasy: Malaysian parking app focused on cashless parking payments and space booking. Competes directly with Setel's parking feature, though Setel differentiates through bundling with fuel and broader vehicle services on a single wallet.
• Boost (Boost Holdings): Major Malaysian e-wallet competing directly for digital payment share, bill payment, and merchant QR transactions. Boost has a broad merchant network and frequently runs cashback promotions that compete head-to-head with Setel's promotional incentives.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/setel
• Facebookfacebook.com/setel
• LinkedInlinkedin.com/company/setel
• Instagraminstagram.com/setel
• TikToktiktok.com/@setel

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Setel