26/6/2023 (Malaysia) - The Ministry of Finance in Malaysia has decided to include Setel, Boost, and Touch 'n Go eWallet as the main e-wallet service providers for the eBeliaRahmah programme. This initiative was announced under the 2023 Budget and is aimed at promoting a culture of cashless transactions among Malaysian youths, as well as reducing their financial burden. The programme plans to offer a credit of RM200 to around 2 million Malaysian youths, which can be used for physical purchases through these selected e-wallet services.
Setel, supported by Petronas, offers a range of services to its users. These services include fuel and parking payments, motor insurance purchases, vehicle breakdown assistance, and road tax renewal. The app also allows users to activate fuel pumps from their vehicles with a single tap.
Boost, another e-wallet service in Malaysia, enables users to top up mobile prepaid credits, make payments at over 500,000 merchant touchpoints nationwide, and earn rewards from transactions. The app also provides bill payment and online shopping facilities.
To qualify for the eBeliaRahmah programme, applicants must be Malaysian citizens who are either aged between 18 and 20 years in 2023 or are full-time students at higher education institutions before April 30, 2023. The programme's registration and claim period runs from June 26, 2023, to August 22, 2023. The provided credit, along with any additional benefits from the e-wallet service providers, can be used until August 31, 2023.
The inclusion of Setel, Boost, and Touch 'n Go eWallet in the eBeliaRahmah programme marks a significant move towards the adoption of cashless transactions in Malaysia. As pointed out by Setel's CEO, Mazlin Erawati Ab Manan, Setel's acceptance at over 1.6 million retail stores and over 1,000 PETRONAS stations across the country gives eBeliaRahmah claimants a wide range of options for using their credit.