Malaysia’s finance minister launched an initiative to promote the use of digital payments by giving qualifying citizens free cash credited to accounts registered with either GrabPay, Boost or Touch ‘n Go mobile wallets.
At a press conference, Lim Guan Eng said the policy, named e-Tunai Rakyat, would give every adult with an annual income of less than MYR100,000 ($24,548) access to MYR30 of credit in one of the three selected mobile wallets.
Claims for the money can be made by qualifying citizens from tomorrow (15 January).
Newspaper Malay Mail estimates 15 million people will be eligible to claim the funds, which are being distributed as part of a wider initiative to encourage the use of traceable digital payments and reduce the volume of transactions made with physical cash.
The publication added the country’s inland revenue department would vet claims to check individuals meet the wage criteria. Those successful will have until 14 March to spend the money.Subscribe to our daily newsletter Back