The Ministry of Finance (MOF) has announced that Malaysian youths and university students can apply for their RM200 eBeliaRahmah credit starting next Monday 26th June 2023. Interestingly, there are only three supported eWallets under the programme, namely Boost, Setel and Touch ‘n Go eWallet. If you’re curious why other eWallets such as GrabPay, ShopeePay and BigPay were not included, MOF has provided an explanation in its FAQ.
According to MOF, they have invited a total of 10 major eWallet providers based on transaction volume and active users to participate in the eBeliaRahmah programme with a set of terms and conditions determined by the ministry. This also includes their ability to fulfil the technical requirements of the programme, sharing of costs and additional eWallet incentives that can be provided to match the credit allocated by the government.
After discussion and evaluation process, the three eWallet providers (Boost, Setel and Touch ‘n Go eWallet) were selected after they have committed to participate in the programme. The three players have a combined total of over 10 million users along with a network of over 2 million merchants for both online and offline channels. It added that a strong and wide network will ensure a comprehensive implementation throughout the country.
To recap, the RM200 eWallet credit is offered to Malaysian youths aged 18-20 years old as well as full-time students at registered institutions of higher learning in Malaysia. Eligible individuals can apply for the credit from 26th June until 22nd August 2023. The credit will be disbursed within 3 days of application and it must be fully utilised by 31st August 2023.
According to MOF, the credit is meant for offline transactions and it can’t be used for in-app bill payments, online shopping, parking and toll. The RM200 eWallet credit is non-transferable to other eWallet accounts. For wider acceptance, users can use their credit to pay at any merchant that displays the DuitNow QR code as shown above.
You can learn more about the eBeliaRahmah redemption process here.
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