Khazanah Nasional Bhd today announced that leading e-wallet service providers Touch ‘n Go eWallet, Boost and GrabPay, have been selected to participate in the Federal Government’s RM450 million e-Tunai Rakyat initiative.
The three e-wallet service providers are among Malaysia’s largest, and collectively provide a ready platform for the programme, which is scheduled to be launched on Jan 15.
"Malaysians 18 years of age and above and who earn less than RM100,000 annually will be eligible to receive RM30 each through any of the participating e-wallets,” the sovereign fund said in a statement today.
It added that users can use the RM30 e-credit to purchase goods and services available through the e-wallet of their choice for the duration of the programme, which runs from Jan 15 - March 14, 2020.
The participating e-wallet service providers were selected based on their large number of active users and extensive merchant networks, technical expertise as well as financial and manpower strength to build the necessary systems, processes and procedures, among others.
Khazanah was appointed by the Finance Ministry to facilitate and coordinate the implementation and launch of the e-Tunai Rakyat initiative within the given timeframe.
"As announced by the Finance Ministry, the e-Tunai Rakyat initiative aims to accelerate the use and adoption of e-wallets and digital payments among Malaysian consumers and merchants, especially small enterprises and retail businesses.
“The participating e-wallet service providers will provide more details on how eligible Malaysians can claim and use the RM30 e-credit,” it added.