With the ePemula programme, targeted to start in mid-April, the Ministry of Finance will allocate RM300 million to benefit approximately two million youths aged 18-20, including full-time students in higher learning institutions.
Each eligible claimant will receive a one-off RM150 credit voucher disbursement via their e-wallet of choice, which can be used to make in-store cashless transactions for electronic devices, books, food and other daily essentials.
To complement the Government’s disbursement, GrabPay and partners will top up the value of the vouchers so each eligible claimant receives an additional RM210 which can be used for online shopping.
This is timely as claimants can leverage the Ramadan and Hari 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,” said Priyanka Madan, Head of GrabPay 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 micro, small and medium-sized businesses transition online and to accept cashless payments as a means to overcome the movement control order restrictions. As the country transitions to Phase Four of the National Recovery Plan, we hope businesses will be able to recoup their offline sales, whilst still reaping the benefits of the digital economy,” she said.
She added that eligible claimants can maximise their savings for every spend with Grab’s other offerings.
Grab users are already enjoying 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 tomorrows,” Priyanka said.
Successful claimants (via GrabPay) will also stand a chance to be part of Grab Malaysia’s internship programme. This means they enjoy the opportunity to be part of projects that impact millions of Malaysians across the country.
“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 digitally competent talent,” Priyanka further elaborated.
According to various studies, the pandemic has accelerated the adoption of e-wallets across Malaysia.
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.
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, and food purchases.
This is further validated by Bank Negara’s recent report which indicates that e-wallet transactions increased more than 70% in 2021, versus 2020.
Prior to ePemula, GrabPay 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.
For more information about GrabPay and ePemula, click HERE.
ePemula is an initiative by the Government of Malaysia to help promote cashless transactions among Malaysian youths aged 18 to 20 years old, and full-time university students. For other initiatives benefiting the youth, please visit Budget 2022 portal.