News & Reviews:   e-wallet

Since the eMADANI launch two days ago, many Malaysians have successfully claimed while others didn't. That being said, it turns out that the RM100 credit has quite a few restrictions. 

If you frequently refill your petrol at Petronas, you might be familiar with the Setel app. Today, the platform is experiencing high traffic of users because of the e-Madani aid. That said, what should you know about it?

The eMadani program has begun today and in case you missed it, the four platforms that will give away the free RM100 credit are none other than Maybank's MAE app, ShopeePay, Touch 'n Go eWallet and Setel. And like before, there are some differences between each of them and if you're not sure which to claim, here's a breakdown of what you can get from each platform. 

Yesterday, our Prime Minister Datuk Seri Anwar Ibrahim announced the official distribution date for the RM100 e-Madani (formerly known as e-Tunai). Eligible participants can redeem the RM100 credit starting from 4 December 2023 but the providers were not mentioned until today. 

Earlier today, Payments Network Malaysia Sdn Bhd (PayNet) and Ant Group signed an agreement to provide seamless digital payments for travellers. The two companies want to expand cross-border payments in the region. This agreement will give travellers access to digital payments at over 1.8 million merchants across Malaysia.

Although the use of e-wallets has become more prevalent, there are still many who question why we should use them. Some think of e-wallets as a way to avoid carrying cash, and they're not wrong, but there can be other benefits. For example, help you save thousands of ringgit on expensive smartphones.

A few years ago, e-wallets were seen as a novelty. Nowadays, many Malaysians in urban areas use them regularly. They're still not commonly used by those who live in rural areas. But the government wants to push more people in those areas to use cashless payments.

The Ministry of Health (MOH) has announced that all facilities under its helm will start going cashless from 1 October 2022. This is according to circular issued by its secretary-general, Datuk Harjeet Singh dated 21 June 2022.

Universiti Putra Malaysia (UPM) School of Business and Economic Assoc Prof Dr Anuar Shah Bali Mahomed has lauded the recently launched Malaysia Digital initiative for its ability to reduce corruption. Specifically, the initiative’s comprehensive implementation of a cashless system will reduce occurrences of corruption as bribes are usually made in cash to avoid being traced.

The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) has revealed that traders are now more welcoming of e-wallets and cashless transactions throughout the country. Its deputy minister, Datuk Rosol Wahid in a statement yesterday shared that a total of 3919 new traders are actively using these cashless transactions nationwide as payment methods.