The e-Tunai Rakyat frenzy on Day 1

by AZALEA AZUAR/ pic by MUHD AMIN NAHARUL

MOBILE users have been flooding e-wallet platforms — Grab, Boost and Touch ‘n Go eWallet — since yesterday to claim the government’s RM30 e-Tunai Rakyat allocation, which is redeemable until March 14.

This is part of the government’s initiatives to increase the usage of e-wallets among eligible consumers as their main mode of payment.

Malaysians aged 18 years and above who are earning less than RM100,000 annually can claim the allowance on just one of the apps, if they are users of multiple e-wallets.

They need to go through a verification process where they are required to take a selfie together with their identification cards.

Sovereign wealth fund Khazanah Nasional Bhd was tasked to facilitate the implementation of the initiative.

Khazanah deputy MD Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz said registration for the initiative includes reviews by the National Registry Department (NRD) and Inland Revenue Board (IRB) to ensure the eligibility of users.

On the first day of e-Tunai Rakyat redemptions, Touch ’n Go’s eWallet experienced an overwhelmingly high traffic volume on their app, causing many users to face some problems in the process.

“As of now, our app has increased its capacity to process the increasing user traffic and seeing a higher success rate in the number of claimants,” the company said in a statement.

On the other hand, Boost CEO Mohd Khairil Abdullah said the e-Tunai Rakyat processes on the Boost app are up and “running smoothly” where users were making their claims without difficulty.

The RM30 credits on all platforms are non-transferable, while redemption features and perks differ among the three e-wallet apps.

GrabPay uses an award-point system where the sooner users claim the e-Tunai Rakyat, the more additional perks they would be entitled to with exclusive deals from Grab partners nationwide like The Coffee Bean & Tea Leaf, Baskin Robbins, Hotlink, Mydin, Secret Recipe, Sushi King and JomParking.

Touch ’n Go eWallet offers cashback promotions in which users would also get an additional RM30 cashback bonus as well as a chance to win prizes worth RM2 million.

Boost also uses a reward system where users are able to earn coins from their redemptions.

Finance Minister Lim Guan Eng said the initiative intends to increase digital payment adoption among local consumers and merchants, particularly small retail business operators.

Part of Budget 2020 measures announced by the Finance Ministry on Oct 11 last year, it is the government’s commitment to fulfil the shared prosperity agenda by reducing digitalisation barriers and enhancing financial inclusivity in the country.

Fifteen million Malaysians are eligible for the e-wallet programme, where the government has allocated RM450 million for the initiative which will stretch until March 14, 2020. The unspent portion will expire by the end of that date.