Right after announcing the RM 20 million allocation to the Esports sector during the tabling of Belanjawan 2020, Minister of Finance has also revealed the government’s plan to promote the usage of e-wallet in Malaysia. This will involve what the minister has referred to as a “one-off digital stimulus”.
Specifically, the government will provide a one-off payment of RM 30 to all eligible Malaysians for them to utilize via e-wallet. According to the minister, this e-wallet fund can be redeemed starting from 1 January until 29 February 2020.
The fund will be made available to Malaysians aged 18 years and above with an annual income of less than RM 100,000 per year. The government has apparently allocated RM 450 million for this program which will be under the responsibility of Khazanah Nasional.
Hence, this means that around 15 million Malaysians are able to utilize the e-wallet funding through the new program this coming January. Of course, we do suggest you to hold your horses first as the government has yet to release any specific details regarding it.