THE pandemic, according to several surveys, has hastened the adoption of e-wallets in Malaysia.
Since the Covid-19 outbreak, 55 per cent of Malaysians report they can now go for more than a week without seeing any actual money.
This is due to the rise of cashless payment methods such as QR codes and e-wallets, which Malaysians use for bill payments, groceries, retail and convenience store shopping, and meal purchases1.
On October 29, 2021, the Malaysian government announced the implementation of an e-cash incentive offered to youths known as ePemula through the 2022 Budget.
The government has committed a total of RM300 million to this programme, which will benefit around two million youths across the country.
The cash disbursement can be used to make in-store cashless purchases of electronic devices, books, food, and other everyday necessities.
According to the government's announcement, minister of finance Tengku Datuk Seri Zafrul Abdul Aziz said eligible youths aged 18 to 20 would receive e-wallet credit worth RM150 through ePemula.
"With an allocation of RM300 million, the government hopes that more than two million youths who benefit from this programme can make the best use of it by purchasing useful items such as books and learning equipment," he said.
GOING CASHLESS WITH GRAB
The e-wallet credit can be redeemed via multiple platforms, one of them being Grab in the form of fractionalised cash vouchers.
Since launching the GrabPay e-wallet in 2017, Grab has collaborated with like-minded government partners, private companies and other well-known brands to encourage Malaysians to utilise e-wallets and adopt a cashless lifestyle.
Prior to ePemula, GrabPay sponsored government-led initiatives including ePenjana, SMO, and ReDi to help digitalise thousands of small businesses.
Priyanka Madan, head of GrabPay, said that in line with the essence of ePemula, GrabPay fractionalised the RM150 credit from the ministry of finance to provide eligible claimants more opportunities to spend prudently and benefiting multiple brick and mortar businesses as they strive to recoup their offline sales while still reaping the benefits of the digital economy.
The great news is that Malaysian youths will enjoy many more perks when they use GrabPay to redeem their ePemula handout.
Eligible claimants who make their claim using GrabPay will earn an extra RM210 in cash vouchers from GrabPay and its partners, which they may use for online shopping.
Users will be able to take advantage of Ramadan and Raya deals and promotions to purchase clothing, food, and other seasonal necessities.
Madan also highlighted that users also stand to receive GrabRewards for every GrabPay transaction, which can be used to redeem discount vouchers and offset future payments.
"Eligible claimants can maximise their savings for every spend with Grab's other offerings. Grab users are already enjoying more than RM300 in savings if they currently subscribe to GrabUnlimited.
"On top of that, they are also earning GrabRewards for every GrabPay transaction which can be used to redeem discount vouchers to offset future payments. This means they are not only saving on today's spending but also tomorrow's!" she continued.
Users who submit a valid claim through GrabPay will also be considered for a spot in Grab Malaysia's internship programme.
"In addition to nurturing the cashless culture among young people, we want to support the government's emphasis in STEM education by nurturing agile and digital competent talent," Madan further elaborated.
To enjoy added benefits, discounts and vouchers on top of the ePemula handout, users can claim the RM150 e-wallet credit via GrabPay Wallet.
Download the Grab app on the App Store, App Gallery, or Google Play Store today.
ePemula is an initiative by the Government of Malaysia to help promote cashless transactions among Malaysian youths aged 18 to 20 years old, and full-time university students. For other initiatives benefiting the youth, please visit the Budget 2022 portal.