Malaysia’s New “Thursday Boycott” Campaign Misguided: Crashing Our Own Economy, Not Israel’s

The campaign, originally intended to target Visa and Mastercard due to their US ties to Israel, became distorted into a blanket boycott of Malaysia’s entirely domestic payment infrastructure processed through local company PayNet.

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A viral social media campaign urging Malaysians to boycott online transactions every Thursday has exposed widespread confusion about how digital payment systems actually work, with many warning the movement could harm Malaysia’s economy while having zero impact on Israel.

The campaign falsely claims that avoiding local digital payments will somehow “crash Israeli stocks,” revealing fundamental misunderstandings about Malaysia’s payment infrastructure.

Malaysia’s digital payment ecosystem operates independently of Israeli financial systems.

When Malaysians use DuitNow, QR code payments through Touch ‘n Go eWallet, GrabPay, or bank apps like MAE and BigPay, these transactions are processed entirely through Malaysian servers and clearing systems via PayNet, a Malaysian company owned by Bank Negara Malaysia and local banks.

“Online transactions among Malaysians use CIMB, Maybank, DuitNow – all local branches,” pointed out Threads user @chicomunch.

These transactions never involve Israeli networks, contribute to Israeli company revenues, or appear on any international stock exchange; they’re purely domestic financial activities.

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The Original Message Got Lost

Another Threads user, @itsmenuraihan, explained that the initial campaign aimed to reduce the usage of Visa and Mastercard, both US companies with documented support for Israel’s economy.

However, the message became distorted into a blanket boycott of all digital payments, including purely domestic Malaysian transactions.

The misguided boycott risks harming Malaysia’s digital economy transformation and could reduce convenience for small businesses relying on QR payments.

The government has invested heavily in promoting cashless payments to improve efficiency and financial inclusion.

Effective boycotts targeting Israel typically focus on international brands with Israeli operations, products from Israeli settlements, or companies directly supporting Israeli military activities.

Local Malaysian digital payments do not fall into any of these categories.

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Crashing Malaysia’s Economy, Not Israel’s

Fellow Threads user @reena.rayyan summarised it best: “Good intentions, but wrong strategy.”

As @chicomunch questioned: “So is this a mission to crash Israel’s economy or Malaysia’s economy that’s already struggling?”

Malaysia’s digital payment infrastructure remains firmly Malaysian – boycotting it only hurts Malaysia, not Israel.

As one cybercitizen aptly concluded: “We want to boycott Israel, not our own country’s economy.”

Some Malaysian businesses have joined the movement as early as August, with those establishments announcing that they would close every Thursday “until further notice” in support of Palestine.

While well-intentioned, such actions primarily affect local economic activity rather than international targets.

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Influencers Acknowledge the Confusion

The extent of the misinformation became clear when social media influencers joind the bandwagon.

One of them, Farwina Faroque, had been actively promoting the Thursday boycott campaign until concerned members of the public corrected her.

Threads User @sirapix challenged her directly, asking: “Please kindly explain how local transactions, using DuitNow, by PayNet, will help our people there… why instigate something which will cripple our economy?”

Farwina eventually acknowledged the criticism, responding “Terima kasih teguran, sy terima” (Thank you for the correction, I accept it) and promised to seek clarification from the campaign organisers.

The exchange highlighted how even well-meaning advocates had been spreading economically harmful misinformation in their enthusiasm to support Palestine.