Boost selected as official eBelia e-wallet
By Digital News Asia May 20, 2021
- The US$36 incentive to be given to students aged 18-20 as part of eBelia initiative
- With Boost, students can reach over 241K offline, online merchants, manage uni fees
E-WALLET provider Boost has been selected by the Malaysian government as an official e-wallet for the eBelia initiative.
The initiative is part of the government’s PEMERKASA economic stimulus package aimed at kickstarting Malaysia’s economic and livelihood recovery due to the Covid-19 pandemic, the company said in a statement.
The US$36.35 (RM150) e-wallet incentive will be given on June 1 to eligible Malaysian students aged between 18-20 years studying in registered local higher learning institutions at diploma or SKM4 level and above.
Following the announcement by the Ministry of Finance, Mohd Khairil Abdullah, chief executive officer of Boost (pic), said that the homegrown e-wallet is humbled to be chosen for the third time as one of the government’s trusted digital payment platforms for another e-wallet incentive initiative.
“We look forward to playing a role in helping higher education students tide through the on-going pandemic. The eBelia RM150 e-wallet incentive will help alleviate living expenses of students and provide additional pocket money,” he said in a statement.
“At the same time, our youths are the right segment that will lead the way in driving the adoption of a cashless and digital lifestyle, in addition to reviving the country’s economy and spurring domestic spending at local businesses.”
In preparation for the official kick off of eBelia, Boost encourages new and existing users to perform the eKYC (electronic Know-Your-Customer) account verification process early if they have not done so previously.
This will ensure a smoother process to claim the RM150 e-wallet incentive with Boost, he said.
Undergoing the eKYC process will also upgrade a user’s wallet from Basic to Premium. A Premium wallet account enables users to benefit from the full range of functions and features Boost has to offer, including a larger wallet size of US$1,211 (RM4,999).
Additionally, with Boost, students can reach over 241,000 offline and online merchants to obtain any necessities they need or manage college and university-related fees, Boost said.
Currently, Boost is actively used by merchants in and around 58 campuses nationwide including Universiti Malaysia Sabah, Universiti Malaya, Universiti Putra Malaysia, Management and Science University and Universiti Tenaga Nasional, among others.
“As a homegrown e-wallet, we are fully committed to work hand-in-hand with the government as a partner and enabler to ensure digital and financial inclusion for everyone, especially those in suburban and rural areas. We will continue to provide equal opportunity and access to digital payments and services for all as the country charts the path forward to realise an effective and collaborative digital economy,” said Khairil.
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