PUTRAJAYA, Jan 14 — Malaysians eligible for the RM30 e-wallet incentive from the government will begin receiving the money tomorrow, Finance Minister Lim Guan Eng said today.
The one-off payment is part of the federal government’s move to encourage the adoption of cashless payments in Malaysia.
According to Lim, the payment will be made via the three e-wallet operators — GrabPay, Boost and Touch ‘n Go eWallet — that have partnered with the government.
Applicants can choose from one of the three platforms to apply for their e-cash.
Malaysians aged 18 and above with an annual income of less than RM100,000 qualify for the initiative, which will cost the government RM450 million.
“The e-wallet operators would also improve the RM30 free money given by the government, by giving their own incentives. This means that eligible Malaysians would receive free money of more than RM30 through this initiative.
“Up to 15 million Malaysians would benefit from this government initiative,” Lim told a press conference at the Finance Ministry here.
“To ensure the initiative will hasten Malaysia’s digitalisation process, the RM30 must be spent from January 15, 2020 until March 14, 2020. Any unspent portion will expire by the end of March 14, 2020,” Lim added.
Khazanah Nasional Berhad has been tasked with implementing the e-Tunai Rakyat programme.
Its deputy managing director Tengku Datuk Seri Azmil Zahruddin said that the Inland Revenue Board will be vetting applicants to ensure they meet the income regulation, adding that it would take five days to process applications for the cash.
The e-Tunai Rakyat is a one-off digital stimulus meant to encourage the use of e-wallets and digital payments and cut back cash circulation.
It was announced under Budget 2020 as part of a wider push to digitise the economy.