Finance, News

15 Million Malaysians Will Receive RM50 Ewallet Credit & RM50 Discount Vouchers

The Malaysian government just announced several new initiatives to kick-start the economy due to the adverse effects of the COVID-19 pandemic. As part of the Short-Term Economic Recovery Plan (PENJANA), 15 million eligible Malaysians will get RM50 credited into their ewallet accounts to encourage the use of contactless payments.

On top of that, the chosen ewallet services for this initiative will also match the RM50 credit given by the government. This will be done in the form of vouchers, cashbacks, and discounts, though it’s worth noting that these – and the RM50 credit itself – are said to be applicable to offline and physical purchases only.

Nonetheless, eligible Malaysians will effectively get a total of RM100 in benefits from this initiative.

It’s not revealed yet exactly which ewallet services will be a part of this exercise, though there’s a chance the same ones from the previous E-Tunai Rakyat intiative will be chosen. These include Touch ‘n Go eWallet, Boost, as well as GrabPay.

To be eligible for the RM50 credit and RM50 discount vouchers, you’d have to be above 18 years of age with an annual salary below RM100,000. As much as RM75 million will be allocated for this initiative, and it will begin as early as next month in July until September 2020.