PETALING JAYA: An expenditure of RM10mil has been recorded with Touch 'n Go eWallet, Boost and GrabPay on the first day of the e-Tunai Rakyat initiative, says Finance Minister Lim Guan Eng.
Lim said the overwhelming response in people going cashless will provide a boost in local consumption.
''As of 10pm Wednesday (Jan 15), there were 380,000 applications for the e-Tunai Rakyat on the selected e-wallet service providers, and 320,000 of them have been approved.
''We expect more to come on board and adopt e-wallet and apply for the initiative before it ends later, '' he said after a walkabout at the SS2 morning market here following the launch of the initiative.
The claims for the e-Tunai Rakyat initiative kicked off on Wednesday with Touch 'n Go eWallet, Boost and GrabPay selected to be the service providers for the project.
Malaysians aged 18 and above and who earn less than RM100,000 annually will be eligible to receive RM30 each through any of the participating e-wallets.
The RM30 can be used to purchase goods and services available through the respective e-wallet of their choice.
Lim called on Malaysians to register and claim the amount before March 9.
The initiative will run for two months until March 14, whereby any unspent amount will be forfeited.
He also said the adoption of cashless payment will be gradual, as there are still those in society who are not used to it, especially people living in rural areas and those in Sabah and Sarawak.
On the government's support for the cashless agenda, Lim noted that it will consider increasing the initial RM450mil allocation should the number of applicants increase.
''Malaysians who have registered need not worry they may lose out, should the initial allocation be met.
''We have room to accommodate the increase.
''All Malaysians aged 18 and above and earning below RM100,000 per annum are eligible. No one will be left out, '' he said.
We're sorry, this article is unavailable at the moment. If you wish to read this article, kindly contact our Customer Service team at 1-300-88-7827. Thank you for your patience - we're bringing you a new and improved experience soon!