PETALING JAYA: GrabPay Malaysia is partnering with the government to drive cashless adoption among youths and businesses, particularly micro, small and medium enterprises (MSME) across Malaysia through the ePemula programme, which began on April 11.
The Finance Ministry allocated RM300mil to benefit approximately two million youths aged 18 to 20, as well as full-time tertiary students.
Each eligible claimant will receive RM150 credit voucher disbursement via their e-wallet of choice, which can be used to make in-store cashless transactions for items such as electronic devices, books, food and other daily essentials.
To complement the government’s disbursement, GrabPay is topping up the value of vouchers for claimants. Eligible claimants who claim via GrabPay will receive an additional RM210 worth in cash vouchers from GrabPay and its partners, which can also be used for their online shopping.
This is timely as claimants can then leverage the Ramadan and Raya sales and promotions to shop for their clothes, food and other festive needs.
“As a homegrown brand and proponent of the digital economy, we are honoured to participate in the ePemula programme to support youths in Malaysia.
“Since the launch of our GrabPay e-wallet, we have been working with like-minded partners and government agencies to encourage the growth of cashless transactions to provide safer, as well as more transparent and inclusive financial services nationwide.
“Together, we have also helped thousands of MSMEs transition online and to accept cashless payments as a means to overcome the movement control restrictions. In line with the essence of ePemula, GrabPay fractionalised the RM150 credit from MOF to provide eligible claimants more opportunities to spend prudently, while benefiting multiple brick and mortar businesses as they strive to recoup their offline sales whilst still reaping the benefits of the digital economy,” said GrabPay Malaysia head Priyanka Madan.
She added that eligible claimants can maximise their savings for every spend with Grab’s other offerings. Grab users already enjoy more than RM300 in savings if they currently subscribe to GrabUnlimited.
“On top of that, they are also earning GrabRewards for every GrabPay transaction, which can be used to redeem discount vouchers to offset future payments. This means they are not only saving on today’s spending but also tomorrow’s!” she said.
Successful claimants (via GrabPay) will also stand a chance to be part of Grab Malaysia’s internship programme. This means they will have the opportunity to be part of projects that impact millions of Malaysians across the country.
She elaborated, “In addition to nurturing the cashless culture among young people, we want to support the government’s emphasis in STEM education by nurturing agile and digital competent talent.”
According to various studies, the pandemic has accelerated the adoption of e-wallets across Malaysia. A recent Tech for Good Institute report revealed that 67% of Malaysians have digital access through mobile phone subscriptions with 83% of them adopting digital payments through mobile e-wallets.
Since the pandemic, 55% of Malaysians claim they can now survive for more than a week without any physical cash, according to the Visa Consumer Payment Attitudes Study 2021. This can be attributed to the growth of cashless payment options such as QR payments and e-wallets which Malaysians are using for their bill payments, groceries, shopping at retail and convenience stores, as well as food purchases.
This is further validated by Bank Negara’s recent report which indicates that e-wallet transactions have increased more than 70% in 2021, versus 2020.
Prior to ePemula, GrabPay also supported other government-led efforts such as ePenjana, SMO and ReDi to digitalise thousands of small businesses and help them embrace the digital economy whilst encouraging consumer spending.
Visit here to find out how you can claim for ePemula via GrabPay.
ePemula is an initiative by the Malaysian government to help promote cashless transactions among Malaysian youths aged 18 to 20 years old, as well as full-time university students. For other initiatives benefiting the youth, please visit the Budget 2022 portal.