Kuala Lumpur, 20 December 2019 – Malaysia’s leading lifestyle e-wallet, Boost, has been selected as a disbursement channel for the Government’s e-Tunai Rakyat initiative which will contribute towards the national push for digital payments and the creation of a cashless society in Malaysia. This comes following the recent official announcement by Khazanah Nasional that names the homegrown e-wallet as one of the platforms for Malaysians to benefit from the Ministry of Finance’s digital stimulus.

From 15 January to 14 March 2020, eligible Malaysians aged 18 and older with an annual income of less than RM100,000 stand to benefit from the one-off RM30 stimulus. 

Mohd Khairil Abdullah, CEO of Boost, shared his excitement that Boost has been selected to be part of the national drive to enhance the country’s digital economy through the e-Tunai Rakyat initiative.  

“As a homegrown e-wallet, Boost is truly humbled by the faith the Government has shown in us to disburse funds in the e-Tunai Rakyat initiative through Boost to increase the cashless adoption rate in Malaysia. We applaud the Government’s move in bringing Malaysians together to participate in the digitalisation of our economy.

“This move by the Government will encourage new users who’ve never used an e-wallet before to experience going cashless with their smartphones for the first time. We can also consider the digital stimulus as a form of endorsement of e-wallet technology use which is safe and secure for financial transactions,” said Khairil. 

The RM450 million e-Tunai Rakyat initiative is expected to benefit 15 million Malaysians. For those using Boost, they will be able to experience the convenience of going cashless at 125,000 merchants nationwide from shopping and dining at major retail and F&B stores or pasar malams, paying for parking and bills, topping up their prepaid mobile phone credit, purchasing movie or public transport tickets or even donating to the less fortunate or a good cause using their smartphones. 

In addition, Boost users also stand to win prizes and once-in-a-lifetime experiences through BoostUP, the e-wallet’s user rewards programme.

To further add value for the e-Tunai Rakyat recipients, Boost will be introducing exciting offers across most of its 125,000 merchant partners covering everything from F&B, grocery and online shopping, health & beauty, petrol, telco, bill payment, parking, and other in-app offers including food delivery, mobile games and many more during the 2-month e-Tunai Rakyat initiative. 

To claim the RM30 digital stimulus, eligible users simply need to log in to their Boost e-wallets and follow the easy on-screen instructions within the app to redeem. 

Users would need to have verified their premium Boost e-wallets, which offer benefits of a larger wallet size and higher monthly transaction amounts, that can be done at no extra cost. Verifying a premium Boost e-wallet is equally easy and when users do it now, they will receive RM5 as part of a year-end promotional campaign.

“Boost will continue to revolutionise the way Malaysians transact daily and continue to support the Government’s aspirations for a cashless society where we can. We hope to push the boundaries of today’s payment systems to drive greater convenience and better security with e-wallets,” Khairil concluded. 

For further details on steps to verify a premium Boost e-wallet, the rewards available through BoostUP as well as other promotions set to be offered during the two-month e-Tunai Rakyat initiative, follow Boost’s official social media channels on Facebook and Instagram as well as the official website myboost.com.my.