The Ministry of Finance will soon disburse RM150 eWallet credit to Malaysian youths in the coming weeks.
The new RM150 eWallet programme was initially announced as eStart during the tabling of Budget 2022 and it is now known as ePemula. A total budget of RM300 million has been allocated and it will benefit two million youths.
The four participating eWallets are BigPay, GrabPay, ShopeePay and Touch ‘n Go eWallet which has a combined network of 1.2 million merchants. According to the ministry, the programme will start in mid-April 2022 and it urged small businesses who have yet to accept cashless payments to sign up with one of the eWallet partners to benefit from the programme.
During the tabling in Parliament, Finance Minister Tengku Zafrul Aziz said the RM150 will be credited as a one-off payment for youths aged 18-20 years old as well as full-time students in institutions of higher learning. He said he hopes that students will make use of the funds to buy books and other educational tools.
As usual, it is expect eWallet players to introduce additional offers to entice eligible youths to redeem the credit from their respective platforms. This may include vouchers, cashback and extra deals. Do note that each eligible youth can only redeem the RM150 once regardless of how many eWallets they have.