Finance Minstry: Govt targeting 15 million e-wallet users

KUCHING: The Government wants to increase the number of digital payment users to 15 million people as it moves toward making Malaysia a cashless society.

Finance Minister Lim Guan Eng (pic) said going cashless would help promote efficiency and transparency.

"The Government wants to encourage digital payments because we feel it is important for Malaysia to become a cashless society one day, (when) we do all our payments online or on mobile phones.

"Only then can we have greater efficiency and transparency, because when you go cashless, it is very hard for corruption to go undetected," he said after a walkabout at The Spring mall here on Friday (Jan 17) night to promote the e-Tunai initiative.

Lim said there were about eight million digital payment subscribers before the initiative kicked off on Wednesday (Jan 15).

"We want to double that to 15 million, if possible 16 million, so that nearly every Malaysian above 18 years will be on digital payment," he said.

However, he said the Government would not push ahead too quickly to become cashless but would take into consideration the needs of the rural population.

"We know many in the rural areas are not familiar with digital payment. We will do it slowly and progressively," he said.

Under the e-Tunai Rakyat initiative, Malaysians aged 18 and above who earn less than RM100,000 annually will be eligible to receive RM30 each through any of three participating e-wallets – Touch 'n Go eWallet, Boost and GrabPay.

The RM30 can be used to purchase goods and services available through the respective e-wallet of their choice.