<p>Malaysians love our savings, don’t we?</p><p>We love them so much that according to findings from our <a href="https://blog.ewhallet.com/malaysia-best-e-wallet-2020/">Best eWallet in Malaysia for 2020 survey</a>, <strong>54%</strong> of Malaysians use eWallets mainly for the cashback, promotions and rewards.&nbsp;</p><p>Now, Malaysians can jump for joy with a new initiative that will enable us to earn <em>even more cashback </em>and rewards just for shopping with our eWallets – the Shop Malaysia Online initiative.</p><h2><strong>What do I need to know about the</strong><a href="https://www.myboost.com.my/?_branch_match_id=801440553426726520" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"><strong> Shop Malaysia Online</strong></a><strong> initiative?</strong></h2><p>The Shop Malaysia Online initiative is an e-commerce initiative under Pelan Jana Semula Ekonomi Negara (PENJANA) or the National Economic Recovery Plan.&nbsp;</p><p>This initiative was rolled out to stimulate the economy through online consumption. Specifically, it sees the government collaborating with various eWallets and e-commerce platforms such as Boost to promote online shopping amongst Malaysians. </p><h2><strong>About Shop Malaysia Online with Boost&nbsp;</strong></h2><p>Boost is one of the official e-Wallet partners for the PENJANA Initiative.&nbsp;</p><p>Boasting the widest merchant network nationwide to date with over 170,000 merchants nationwide, Boost has long been in favor of supporting local businesses, with over 60% of their merchants comprising small and micro-SMEs such as mom and pop convenience stores, public market traders and hawker stall owners.</p><p>Throughout the Shop Malaysia Online campaign, Boosties can now shop and enjoy savings from over 5,000 participating online merchants!</p><p>It’s not just savings either, paying with Boost has never been more convenient with their<strong> “Tap and Pay” </strong>feature. With this new feature, all you need to do is enter a 6-digit PIN to verify your transaction. No usernames, no passwords, no waiting for the TAC/OTP.</p><p>From now till 30th September 2020, the rewards just don’t stop if you’re a fellow Boostie as you could get up to RM100 worth of cashback and more!&nbsp;</p><p>In total, there are 4 main ways users can benefit from using Boost throughout this Shop Malaysia Online campaign.</p><h3>1- <strong>Shop online and earn up to RM10 cashback with Boost Partner Wallet </strong></h3><p><a href="https://www.myboost.com.my/partner-wallet/?utm_source=ewhallet&amp;utm_medium=referral&amp;utm_campaign=epenjana-smo" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Boost Partner Wallet</a> is the perfect feature for loyal users as you can Shake for instant cashback and save on the next transaction!&nbsp;</p><p>A ‘Partner Wallet’ is a sub-wallet within a user’s Boost account that automatically stores cashback for dedicated merchants and each user can have multiple Partner Wallets. This helps ensure users don’t miss any savings and is especially useful for when users shop at their favourite merchants.&nbsp;</p><p>Any cashback a user has in a Partner Wallet will be automatically deducted in the next transaction made at the respective merchant.</p><p><em>Who are these Featured Boost partners, then?</em></p><p>At the time of writing, there are 15 merchants spanning from locally-grown Jobbie Nut Butter to online grocer Potboy, and even major pharmacy Watsons.</p><p>Users only need to <strong>spend a minimum of RM50 on selected partners to get up to 10% cashback</strong> (depending on the merchant).</p><p>Each user is entitled to a maximum of 3x cashback capped at RM10 each. Make sure to use your precious cashback before 30th September 2020 too, as unused cashback balance will expire afterwards.</p><p>This means that if you find yourself spending at a particular merchant particularly often, this feature can help you save on every purchase – and all you have to do is use the respective Boost Partner Wallet to pay!</p><h3>2- <strong>Get up to 6x Coins during 8.8 Online Boost Day</strong></h3><p>If you haven’t heard of the <a href="https://www.myboost.com.my/online-boost-day/august/?utm_source=ewhallet&amp;utm_medium=referral&amp;utm_campaign=epenjana-smo" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">8.8 Online Boost Day</a>, you’re in for a treat! This month would be Boost’s biggest Online Boost Day and the rewards are gonna get a little out of control.</p><p>From 6th to 8th August 2020, spend a minimum of RM150 in one transaction and <strong>enjoy up to 2x the amount of coins for all local Boosted online partners</strong>!&nbsp;</p><p>With over 5,000 online partners, get ready to get your online shop on!</p><p>Transactions made at key online partners such as PrestoMall, Jocom, HappyFresh and even Durian Bear would even earn you up to 6x the amount of coins.</p><p>Thought that was it? Boost will also #KasiTambah an extra RM5 Online Boost Day Surprise Shake that would be credited into a random Partner Wallet.&nbsp;</p><p>Users are limited to 2 redemptions throughout the entire 3 days of the August Online Boost Day.</p><h3>3- <strong>Special discount vouchers of up to 20% for selected partners</strong></h3><p>What’s a campaign without discounted online vouchers?</p><p>On top of extra cashback and coins, Boost is also handing out more voucher goodness and even more savings with special discounted vouchers of up to 20% across F&amp;B, travel and online shopping categories.</p><p>Some notable vouchers to get your hands on include Lazada, Hermo, MPH Online Bookstore, Vouk Hotel and Vivatel Kuala Lumpur. </p><h3>4- <strong>Fulfill Boost’s Special Shop Malaysia Online Mission&nbsp; and be rewarded with 500 coins</strong></h3><p>The more you spend, the more you get rewarded.</p><p>Boost’s Shop Malaysia Online campaign ties up with a bang with their special Shop Online Boost Mission. Spend a cumulative total of RM500 on Boosted online partners within 5 days to stand a chance of winning an additional 500 coins!&nbsp;</p><p>Join the mission now <a href="https://myboost.app.link/4TAND19JI8" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">here</a>! </p><h2><strong>What do I need so many Boost coins for?</strong></h2><p>Avid Boosties probably already know how precious Boost Coins are.&nbsp;</p><p>Essentially, Boost coins are akin to reward points. Users earn coins after every transaction made with Boost.&nbsp;</p><p>Of course, this means that the more coins you earn = the more rewards you stand to gain.</p><p>Unlike most other eWallets, Boost Coins can not only be used to redeem vouchers and gifts, but can also be redeemed as cashback and credited directly into your Boost eWallet! From there, you can use your cashback however you like – to <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">pay for utility bills</a> or for your weekly grocery trip. </p><p>To add to that, here’s a tip just for the savings-savvy – use your Boost coins to redeem gifts or cashback from Partner Wallets instead! This will help you get more bang for your buck as the conversion rates for these are much more preferable compared to redeeming just plain old cashback.&nbsp;</p><p>Partner Wallet categories range from Groceries, Prepaid, Postpaid and even Petrol. They essentially work just like your normal Boost cashback too.</p><h2><strong>More than just savings with Boost</strong></h2><p>So far, all we’ve mentioned are cashback, vouchers and discounts.</p><p>While savings play a huge part in our decision-making as Malaysian consumers, an eWallet that offers an easy, uncomplicated payment experience is equally key.&nbsp;</p><p>With Boost, online shopping just got a whole lot easier. The online payments feature allows users to pay for their transactions without the fuss of remembering usernames/passwords, or waiting for the TAC/OTP number.&nbsp;</p><p>All you have to do is select<strong> “Tap and Pay” </strong>on the payment page. From there, a 6-digit pin or quick scan of your fingerprint is all you need to verify your transaction.&nbsp;</p><p><a href="https://www.myboost.com.my/deals/introducing-tap-and-pay/?utm_source=ewhallet&amp;utm_medium=referral&amp;utm_campaign=epenjana-smo" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Click here</a> to find out if your favourite merchant accepts this handy function.</p><h2><strong>Don’t forget to pay with Boost when you shop online!</strong></h2><p>From coins to cashback to vouchers, this period is the best time to do all your shopping since Boost will help to shave a little off the bill.&nbsp;</p><p>Even if you may not be an avid shopper, use this opportunity to grab all your necessities online!</p><p>Download, register and verify your account with Boost now so you can enjoy a seamless spending experience throughout this campaign.&nbsp;</p><p>Another initiative under PENJANA that you might have already benefited from is the <a href="https://www.myboost.com.my/epenjana-rm50/claim-epenjana/?utm_source=ewhallet&amp;utm_medium=referral&amp;utm_campaign=epenjana-smo" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Free RM50 eWallet credit</a>. If you haven’t claimed yours yet, our guide here spells out exactly <a href="https://blog.ewhallet.com/penjana-ewallet-rm50-credit-initiative-mysejahtera/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">how to claim it your free RM50 eWallet credit</a>!</p>

Malaysians love our savings, don’t we? We love them so much that according to findings from our Best eWallet in… 

Love Savings? You’ll Love Boost’s Latest Online Campaign

<p><em>*Updated: Here’s the details on how to claim your ePenjana RM50 eWallet credit!</em></p><h2>How to claim your ePenjana RM50 eWallet credit (Step-by-Step)</h2><ol><li>Make sure you fulfill the requirements as stated above in the article</li><li>Download the MySejahtera app</li><li>Download your eWallet of choice (Boost, GrabPay or Touch ‘n Go eWallet) and make sure it’s updated too</li><li>Register and verify your account</li><li>Click <em>“Claim Now”</em></li><li>Your request will be sent for approval and you will be notified within 5 days </li><li>RM50 eWallet credit will be credited directly into your eWallet once approved</li><li>Remember to spend your credit before it expires on the 30th of September 2020! </li></ol><h2>Which eWallet should you use to claim your ePenjana credit?</h2><p>Whichever eWallet you choose from among these 3, the RM50 eWallet credit remains the same regardless.&nbsp;</p><p>Where they differ is the type of goodies which make up the other RM50 worth of freebies. Below, we’ve compiled what all 3 eWallets are offering so you can compare at a glance!&nbsp;</p><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div>Boost</div></th><th><div>GrabPay</div></th><th><div>Touch ‘n Go eWallet</div></th></tr></thead><tbody><tr><td><div>More than <strong>RM80</strong> worth of Boost lifestyle rewards when you spend your RM50 ePenjana:<br><br>Celcom Xpax<br>Aspirasi&nbsp;<br>Great Eastern&nbsp;<br>Secret Recipe&nbsp;<br>Kenny Rogers Roasters&nbsp;<br>Mydin<br>Tealive<br>Setel<br>OldTown White Coffee<br>Petron<br>KK mart<br>Tesco&nbsp;<br>Watsons<br>myNEWS<br>Sushi King<br>Sunshine<br>And more! </div></td><td><div><strong>RM50</strong> worth of Grab vouchers:<br><br>RM5 Coffee Bean and Tea Leaf<br>RM5 Kenny Rogers Roasters<br>RM5 Kyochon<br>RM5 McDonald’s<br>RM5 Starbucks&nbsp;<br>RM5 Sushi King<br>RM10 H&amp;M<br>RM10 Watsons</div></td><td><div>Be the <strong>first 1,000,000</strong> users to get reward vouchers worth more than <strong>RM300</strong><br><br>Cashback from RM1 – RM10 from 15 F&amp;B outlets&nbsp;<br><br>Cashback from RM1 – RM10 from 11 convenience/lifestyle stores<br><br>Cashback from RM2 – RM100 from 11 necessity stores&nbsp;<br><br>Cashback from RM3 – RM20 from 13 entertainment stores</div></td></tr><tr><td><div><strong><br>Win prizes ranging from:</strong><br><br>– Car&nbsp;<br>– Motorcycle<br>– Gadgets&nbsp;<br>– And more!&nbsp;</div></td><td><div>Be the <strong>first 7,000 users to spend RM50 </strong>ePenjana and use at least one Grab service (Grab, GrabFood, GrabMart or GrabExpress) within the week to also win a weekly <strong>bonus of RM75 in vouchers</strong></div></td><td><div><br></div></td></tr><tr><td><div><a href="https://www.myboost.com.my/epenjana-rm50/" target="_blank" rel="noreferrer noopener" aria-label="Boost ePenjana (opens in a new tab)">Boost ePenjana</a></div></td><td><div><a href="https://www.grab.com/my/pay-deals/others/grab-epenjana/" target="_blank" rel="noreferrer noopener" aria-label="Grab ePenjana (opens in a new tab)">Grab ePenjana</a></div></td><td><div><a href="https://www.tngdigital.com.my/epenjana" target="_blank" rel="noreferrer noopener" aria-label="Touch 'n Go eWallet ePenjana (opens in a new tab)">Touch ‘n Go eWallet ePenjana</a></div></td></tr></tbody></table></figure><p></p><hr class="wp-block-separator"><p>You may recall the <a href="https://blog.ewhallet.com/best-e-wallet-for-your-rm30-e-tunai-rakyat-initiative/">RM30 e-Tunai Rakyat campaign</a> that was announced by the Ministry of Finance earlier in January. Perhaps that RM30 has benefitted you with a few extra meals, or even kickstarted you on your cashless journey.</p><p>In a recent announcement by our prime minister, it was announced that eligible Malaysians can now look forward to even more free eWallet credit to come!</p><p>As part of the PENJANA economic recovery plan, eligible Malaysians will be given RM50 worth of eWallet credit. To top it off, partnering eWallet providers will also be matching up that amount with RM50 worth of vouchers or cashback.</p><p>This initiative is set to benefit up to 15 million Malaysians, with RM750 million allocated for this purpose.&nbsp;</p><p>Here’s what else you need to know to claim your RM50 eWallet credit.</p><h2>Do you check all the boxes?</h2><p><em>“Do I need to be a certain age to receive this credit?”</em></p><p><em>“Am I eligible if I’m not a local?”</em>&nbsp;</p><p>To be eligible for this benefit, you must be a<strong> Malaysian aged 18 and above earning less than RM100,000 per annum. </strong>This benefit is not applicable for Permanent Resident (PR) holders.&nbsp;</p><p>Furthermore, Senior Minister Datuk Seri Ismail Sabri Yaakob has also revealed that <strong>you must download the</strong><a href="https://mysejahtera.malaysia.gov.my/intro/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"><strong> MySejahtera App</strong></a> to be eligible. The MySejahtera App is a contact-tracing app developed to assist health authorities in monitoring COVID-19 in the country.&nbsp;</p><p>Even if you don’t plan on redeeming this benefit, it’s best to download it anyways. As life picks up for you entering RMCO, you’ll come across merchants who will require customers to check in via the MySejahtera app before entering their store.&nbsp;</p><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10.png" alt="mysejahtera app" class="wp-image-1389" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10.png 625w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10-300x216.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10-600x431.png 600w" sizes="(max-width: 625px) 100vw, 625px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="0"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10.png" alt="mysejahtera app" class="wp-image-1389" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10.png 625w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10-300x216.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10-600x431.png 600w" sizes="(max-width: 625px) 100vw, 625px" /></noscript></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10.png" alt="mysejahtera app" class="wp-image-1389" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10.png 625w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10-300x216.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-10-600x431.png 600w" sizes="(max-width: 625px) 100vw, 625px" /></noscript></figure><p></p><h2><del>How do I claim the RM50 eWallet credit?</del></h2><p><del>This program will run from July through to September 2020. At present, the application procedure to apply for this benefit has not yet been made known.&nbsp;</del></p><p><del>Do bookmark this page as we’ll be updating it with all the relevant info once it’s been revealed! It is, however, expected that the RM50 eWallet credit may be directly credited into your eWallet account if you’re eligible.&nbsp;</del></p><p><del>We’re still kept in the dark about which eWallet provider will be selected under this campaign – but we can expect <strong>Boost, GrabPay</strong> and <strong>Touch ‘n Go eWallet</strong> to be among those shortlisted.</del></p><p><del>For that reason, stay one step ahead and make sure to verify your account on either one of these eWallets (or all three!) so you don’t miss out.</del></p><h2>There are limits to what you can do with your RM50&nbsp;</h2><p><strong>The RM50 eWallet credit is only applicable for physical purchases in-store.</strong> That means no online shopping or food deliveries.&nbsp;</p><p>But don’t fret! As mentioned previously, the selected eWallet provider will also be giving out an additional RM50 worth of cashback/vouchers, totaling the final sum to an extra RM100 in Malaysians’ pockets.&nbsp;</p><h2>Why are we receiving this RM50 eWallet credit?</h2><p>The recently unveiled PENJANA economic recovery plan is aimed at revitalising the economy in our post-CMCO society.</p><p>Through this initiative, the government is looking to encourage contactless spending and boost eWallet usage within the rakyat. If you didn’t already know, this is in line with our mission here at eWhallet – to get Malaysians embracing a cashless economy with open arms!</p><p>Furthermore, limiting the RM50 eWallet credit to offline purchases only is done in hopes of jumpstarting the economy and getting local businesses back on their feet.&nbsp;</p><p>For now, just sit back, make sure you have a verified account on either Boost, GrabPay or Touch ‘n Go eWallet – and wait for more news to come!</p><h2>EPenjana RM50 eWallet credit FAQs</h2><ol><li><strong>Why was my submission rejected?</strong></li></ol><ul><li>You did not meet the eligibility criteria</li><li>You’ve claimed from another eWallet already&nbsp;</li><li>There were some issues with your Sejahtera registration</li><li>There were some errors with your MySejahtera registration&nbsp;</li></ul><ol start="2"><li><strong>Can I claim the RM50 ePenjana credit from more than one eWallet?</strong></li></ol><p>No, each applicant is only entitled to the RM50 ePenjana credit from one eWallet only.&nbsp;</p><ol start="3"><li><strong>Can I withdraw the RM50 ePenjana credit as cash?</strong></li></ol><p>No, the credited RM50 can only be used for transactions with the respective eWallet.&nbsp;</p><ol start="4"><li><strong>Is there a deadline to claim the RM50 ePenjana credit?</strong></li></ol><p>The ePenjana credits can be redeemed by eligible Malaysians from 8.00am on 31st July 2020 until 11:59pm on 24th September 2020.</p><ol start="5"><li><strong>Is there a deadline to use the RM50 ePenjana credit after it has been credited into my eWallet?</strong></li></ol><p>The RM50 ePenjana credit will expire at 12:00a.m. 30th September 2020. The amount will automatically be forfeited if unused past the expiry date, so make sure to use it!&nbsp;</p><p>How will you use your RM50 ePenjana credit? Let us know in the comments below!&nbsp;</p>

*Updated: Here’s the details on how to claim your ePenjana RM50 eWallet credit! How to claim your ePenjana RM50 eWallet… 

Penjana RM50 eWallet Credit: Here’s What You Need to Know

<p>Malaysia is well-known (at least amongst ourselves) for being a country jam-packed full of eWallets.&nbsp;</p><p>In recent years, the top few contenders have managed to pave a path for themselves towards the summit of the cashless scene, each carving a well-earned spot for themselves at the top – <em>Touch ‘n Go eWallet, Boost, GrabPay, ShopeePay etc.&nbsp;</em></p><p>But which one is truly the best of the best?</p><p>In our recent article where we compared the <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">top eWallets in Malaysia for 2020</a>, we had the opportunity to find out right from the user’s mouth.&nbsp;</p><p>Below, we’ve summarised the juiciest findings from our <strong>Best eWallet in Malaysia for 2020 Survey. </strong>Read on to find out what fellow Malaysians had to say!</p><h2>Survey Introduction</h2><p>The Best eWallet in Malaysia for 2020 Survey was held for a period of slightly less than a month, with the total number of respondents amounting to 245 (n = 245).</p><p>The 245 respondents surveyed can then be further categorised by gender, age, marital status and income level.&nbsp;</p><ul><li>Majority of respondents are male at 58%&nbsp;</li><li>⅓ of respondents are over the age of 55</li><li>Majority of respondents earn RM35k or below in annual gross income</li><li>44% of respondents are between the ages of 18-34 </li></ul><h2>Touch ‘n Go eWallet leading the game in 2020.</h2><p><strong>Touch ‘n Go eWallet comes out on top as the firm favourite for Malaysians overall.&nbsp;</strong></p><p>In the survey, Touch ‘n Go eWallet triumphed over all other Malaysian eWallets throughout all categories – groceries, online shopping, in-store purchases, petrol and dining in.&nbsp;</p><p>The only exception is food delivery, where GrabPay proved to be the more popular option.&nbsp;</p><p>This comes as no surprise since food delivery isn’t a primary service established within Touch ‘n Go eWallet <em>(although they’ve partnered with DeliverEat)</em>. On the other hand, Grab holds the upper hand with their GrabFood feature which also incentivises users to pay using the Grab eWallet.&nbsp;</p><p><em>As for which eWallet respondents thought was best? </em>More than half (55%) voted for Touch ‘n Go eWallet.</p><h2>55+ age group most loyal fans of Touch ‘n Go eWallet.</h2><p>Behind Touch ‘n Go eWallet’s success seems to be a loyal backing from older users.&nbsp;</p><p>As an overarching theme, users in the 55+ age group consistently showed a preference for using Touch ‘n Go eWallet for all purchases. To be exact, 80% of respondents aged 55+ voted Touch ‘n Go eWallet as the best eWallet.&nbsp;</p><p>76% of respondents aged 55 and above prefer to use Touch ‘n Go eWallet to pay for groceries. In comparison, 43% of 18 – 34 year olds and 46% of 35 – 54 year olds voiced a similar opinion.&nbsp;</p><p>A similar landslide difference can be seen in the preferred eWallet of choice for all other categories too.</p><p>For online shopping, 62% of users who voted for Touch ‘n Go eWallet belonged to the 55+ age group. Similarly, 75% of users who voted for Touch ‘n Go eWallet as their preferred eWallet for in-store purchases were 55 years old and above.</p><h2>Boost trails behind as Malaysians’ second favourite eWallet.</h2><p>While Touch ‘n Go eWallet won the hearts of most respondents, Boost doesn’t lag too far behind.&nbsp;</p><p>We were also able to glean a closer look at Boost’s user demographic from the survey. For starters, Boost was the only eWallet where a clear difference in gender preference can be seen.&nbsp;</p><p>Compared to women, 10% more men prefer to use Boost for their online shopping needs and found it to be more rewarding. Men’s preference for using Boost is also reflected throughout all other categories as well.&nbsp;</p><p>Men aside, singles and middle-aged users (aged 35 – 54) proved to be stronger fans of Boost too.&nbsp;</p><h2>The older the user, the less diversified their eWallet portfolio.</h2><p>While we know that committing to a single eWallet can be more convenient, this doesn’t seem to be the case for most Malaysians.</p><p>Respondents of all age groups tend to use multiple eWallets at once, where 78% of respondents opted to use different eWallets when paying for different categories.&nbsp;</p><p>However, one group in particular preferred to stick to the bare minimum – the 55+ age group.&nbsp;</p><p>The survey found that younger users tend to diversify their eWallet portfolio more. Meanwhile, only 22% of respondents use the same eWallet to pay for all their purchases – a type of user we like to call <em>super users</em>.&nbsp;</p><h2>Malaysians are generally satisfied with what eWallets have to offer.</h2><p>A congested eWallet scene means that for us users, there’s little left to be desired.&nbsp;</p><p>We’re spoiled with a plethora of features, cashback galore and so many promotions one can hardly keep track.</p><p>For the most part, Malaysians seem to echo this fact in that 37% of respondents are satisfied with the functionality of current eWallets, and don’t expect anything more.</p><p>Of course, there’s always room for improvement. Some functionalities other respondents expressed a desire for include public transport payments and more options for <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">utility payments.</a></p><p>Check out some other features respondents thought would be a good addition:</p><blockquote class="wp-block-quote"><p>Financial usage breakdown like BigPay, missions like Boost and toll linking like TNG all in one app</p><cite>Female, 25 – 34 age group</cite></blockquote><blockquote class="wp-block-quote"><p>I hope they can develop an inter-eWallet credit transfer feature</p><cite>Male, 18 – 24 age group</cite></blockquote><blockquote class="wp-block-quote"><p>Ability to pay for all utility bills including Maxis, TNB and Pejabat Tanah</p><cite>Male, 35 – 44 age group</cite></blockquote><h2>Most Malaysians use eWallets for the cashback and promotions.</h2><p>Among the various usage drivers, cashback and promos stood out as the main draw for users –&nbsp; having garnered 54% of all respondents votes.</p><p>Does this come as any surprise? Not really.&nbsp;</p><p>We Malaysians love our rewards, and we’re always on the hunt for the eWallet we can reap the most from.</p><p>Knowing this, Touch ‘n Go eWallet’s leading position as the most popular choice for respondents can be well explained for, since it’s also perceived as the most rewarding eWallet.</p><p>The findings above are just the tip of the iceberg. Subscribe to our mailing list to be notified when we publish other interesting statistics.</p>

Malaysia is well-known (at least amongst ourselves) for being a country jam-packed full of eWallets.  In recent years, the top… 

Touch ’n Go eWallet leading the eWallet War by a mile

<ul><li>eWallets in Malaysia must apply for a license from Bank Negara Malaysia (BNM)</li><li>BNM has put in place a number of safeguards to protect users&nbsp;</li><li>eWallets in Malaysia are subject to multiple laws/regulations/legislations</li></ul><p>So far in our eWallet 101 series, we’ve covered everything from the <a href="https://blog.ewhallet.com/pros-and-cons-of-using-ewallets/">pros and cons of eWallets</a> to<a href="https://blog.ewhallet.com/is-it-safe-to-use-e-wallets/"> how safe your money is when held by eWallet companies</a>.&nbsp;</p><p>This time around, we’re starting off on a more serious note by looking into the legalities of things.&nbsp;</p><p><em>What are the laws and regulations governing eWallets in Malaysia?&nbsp;</em></p><p><em>Do we even have any in the first place?</em></p><h2>E-Wallet laws and regulations in Malaysia</h2><p>In recent years, the Malaysian government, Bank Negara Malaysia and other relevant authorities have made their stance on the push for a cashless society clear. <em>They’re all for it!&nbsp;</em></p><p>One of the areas we can see this is in the comprehensive regulatory framework put in place for eWallets, particularly those looking to apply for authorisation.</p><p>The awesome team of editors, lawyers and researchers at <a rel="noreferrer noopener" aria-label=" (opens in a new tab)" href="https://vixio.com/paymentscompliance/" target="_blank">Payments Compliance </a>have looked into this e-wallet regulations in Malaysia extensively. Read their full guide to e-money licensing <a rel="noreferrer noopener" aria-label=" (opens in a new tab)" href="https://paymentscompliance.com/premium-content/research_report/malaysia-practical-guide-e-money-licensing" target="_blank">here</a>. </p><p></p><figure class="wp-block-table"><table class=""><thead><tr><th><div>No.</div></th><th><div>Regulation/legislation </div></th><th><div>What it contains for eWallets</div></th></tr></thead><tbody><tr><td><div>1</div></td><td><div><a href="https://www.bnm.gov.my/documents/act/en_fsa.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Financial Services Act 2013 (758)</a></div></td><td><div>Official laws and regulations for eWallets.</div></td></tr><tr><td><div>2</div></td><td><div><a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Guideline on Electronic Money</a></div></td><td><div>Broad principles and minimum<br>standards to be observed specifically by eWallets / e-money issuers.</div></td></tr><tr><td><div>3</div></td><td><div><a href="https://www.bnm.gov.my/microsite/ps/PS_Submission_Requirements_190713.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Submission Requirements for Application for Approval to Operate a Payment System or to Issue a Designated Payment Instrument or to be Registered to Provide Merchant Acquiring Services</a></div></td><td><div>Procedures and required documents to be prepared by eWallets looking to obtain licensure from Bank Negara.</div></td></tr><tr><td><div>4</div></td><td><div><a href="https://www.bnm.gov.my/guidelines/00_general/payment/guidelines/05_cc_emoney_policy_amlcft.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) – Electronic Money and Non- Bank Affiliated Charge &amp; Credit Card (Sector 4)</a></div></td><td><div>Risk management procedures eWallets must comply with in accordance to the domestic anti-money laundering and counter financing of terrorism regulatory framework. </div></td></tr></tbody></table></figure><p></p><p>That’s a lot of documents to go through! Below, we’ve extracted some key points that may be most relevant to you as an eWallet user.</p><h2>How to apply e-wallet license in Malaysia</h2><ul><li>E-Wallet applicants are required to submit an application in writing to BNM together with a covering letter and the documents set out in <a rel="noreferrer noopener" aria-label=" (opens in a new tab)" href="https://www.bnm.gov.my/microsite/ps/PS_Submission_Requirements_190713.pdf" target="_blank">Submission Requirements for Application for Approval to Operate a Payment System or to Issue a Designated Payment Instrument or to be Registered to Provide Merchant Acquiring Services</a></li></ul><ul><li>E-Wallets storing more than RM200 per user must possess RM5 million or 8% of outstanding electronic money liabilities in capital funds</li></ul><h2>E-Wallet Operational and Compliance Requirements</h2><ul><li>The <a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Guideline on Electronic Money</a> states that eWallets must submit to the bank its annual audited financial statements and monthly statistical reports on the operation of its e-money scheme</li></ul><ul><li>Maintain separate records and accounts for e-money activities from other business activities</li></ul><h2>E-Wallet Management of Funds</h2><ul><li>Funds collected from users should be deposited and managed separately from the issuer’s working capital funds to avoid commingling</li></ul><ul><li>Funds shall not be invested in any form of assets other than as bank deposits</li></ul><h2>E-Wallet Risk Management</h2><p>E-Wallets are obliged to implement a robust security risk management framework that will address:</p><ul><li>Data confidentiality</li><li>System and data integrity&nbsp;</li><li>User authentication</li><li>Non-repudiation </li></ul><h2>What <em>isn’t </em>covered by our existing eWallet laws and regulations?</h2><p>According to <a href="https://paymentscompliance.com/premium-content/research_report/malaysia-practical-guide-e-money-licensing" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Payments Compliance</a>, Malaysia’s current regulatory framework does not extend to <strong>closed-loop eWallets.&nbsp;</strong></p><p>We’ve addressed<a href="https://blog.ewhallet.com/types-of-ewallets-in-malaysia/"> open-loop vs closed-loop eWallets</a> before, but closed-loop eWallets are essentially eWallets that are exclusive to a specific retailer. A prime example would be Starbucks’ loyalty cards.</p><h2>Does PIDM protect my money in eWallets?</h2><p>PIDM is a government agency which protects our deposits in banks.</p><p>Outside of banks however, perhaps the biggest concern for users using other forms of financial services (such as investment apps or eWallets) is whether or not our money is protected in the same way.</p><p>The answer?&nbsp;</p><p>Yes! PIDM protects eWallet users indirectly by protecting the funds that are placed by eWallet companies in <a href="https://www.pidm.gov.my/en/for-public/deposit-insurance-system-dis/member-banks/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">PIDM member banks</a>.&nbsp;</p><p>However, remember that non-bank eWallets such as Grab and Boost are not PIDM member institutions, hence PIDM does not directly protect e-money which is being used as a payment instrument.&nbsp;</p><h2>What does this mean for me as an average eWallet user?</h2><p>In a nutshell, the eWallet landscape in Malaysia is a pretty safe and secure place for users.&nbsp;</p><p>Thanks to efforts from relevant authorities pushing the transition to a cashless economy, we’re lucky to have a comprehensive regulatory framework in place for eWallets applying for licensure.&nbsp;</p><p>If there’s one thing to take away from this article, it’s to <em>never use unauthorised eWallets </em>– no matter how irresistible their offers!&nbsp;</p><p>Remember that these laws and regulations only apply to licensed eWallets. Click here to view the <a href="https://www.bnm.gov.my/index.php?ch=ps&amp;pg=ps_nonbank_emoney" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">full list of non-bank e-money issuers</a>.</p><p>Now that you’ve got the basics of eWallet laws and regulations in Malaysia down pat, check out our other<a href="https://blog.ewhallet.com/"> eWallet resources </a>to make the most of your eWallet usage.&nbsp;</p>

eWallets in Malaysia must apply for a license from Bank Negara Malaysia (BNM) BNM has put in place a number… 

E-Wallet Laws and Regulations in Malaysia: Here’s What You Need to Know.

<p>It’s often said that the biggest barrier to eWallet adoption is security.&nbsp;</p><p>It’s a proven fact too. In Nielsen’s report last year on <a href="https://www.nielsen.com/my/en/insights/article/2019/cash-or-cashless-malaysias-shifting-payment-landscape/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Malaysia’s shifting payment landscape</a>, security proved to be the biggest reason why non-users aren’t using eWallets.&nbsp;</p><ul><li><strong>50% were concerned about security and fraud related to digital money&nbsp;</strong></li><li>34% worry about overspending</li><li>27% say merchant acceptance is low&nbsp;</li></ul><p>While eWallets are arguably receiving much better response now, security still remains a huge concern.&nbsp;</p><p><em>Is this worry justified? How safe are eWallets really?</em></p><h2>Where are my funds stored when I use eWallets?</h2><p>As mentioned in our article on <a href="https://blog.ewhallet.com/how-do-ewallets-work-in-malaysia/">how eWallets work in Malaysia, </a>all the funds that users load into their eWallet are deposited by the respective eWallet company into a trust account with a licensed financial institution.&nbsp;</p><p>From here, what the eWallet company<em> can </em>or <em>can’t </em>do with those funds is highly regulated.&nbsp;</p><h2>How is my money kept safe when I use eWallets?</h2><p>When it comes to our money, it’s only wise that we’re wary and skeptical.&nbsp;</p><p>In the case of eWallets however, we can let our guard down to a certain extent – knowing that there are safety and security measures in place.</p><h3>1- eWallets are heavily regulated by Bank Negara</h3><p><a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">BNM’s Guideline on Electronic Money</a> is a guideline which outlines the minimum standards and operational requirements for e-money issuers in Malaysia.&nbsp;</p><p>Most importantly, it’s stated that the funds can only be used for:</p><p>i) Refund to users</p><p>ii) Payment to merchants</p><p>With such a large pool of funds at the disposal of eWallet companies, who wouldn’t be concerned about improper usage?</p><p>Fret not though, as the usage and management of funds by eWallet companies is heavily regulated. Below, we’ve summarised just a few regulations from the document concerning this.</p><ul><li>&nbsp;Funds collected from users should be deposited and managed separately from the issuer’s working capital funds to avoid commingling.</li></ul><ul><li>Funds shall not be invested in any form of assets other than as bank deposits.</li></ul><ul><li>E-money issuers must comply with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001.</li></ul><ul><li>E-money is subjected to the Unclaimed Moneys Act 1965 (UMA).</li></ul><p>For more details read our guide on <a href="https://blog.ewhallet.com/e-wallet-laws-and-regulations-in-malaysia/">eWallets laws and regulations in Malaysia</a>.</p><h3>2- Less risk, better traceability</h3><p>Regulations aside, eWallets allow complete traceability of all transactions. In comparison, cash leaves almost no footprint.&nbsp;</p><p>Leaving behind traceable records is important in the unlikely case you become a fraud victim, where being able to easily view your past transaction footprint is helpful.&nbsp;</p><p>Remember also, that your bank account is <em>not</em> directly linked to your eWallet account.&nbsp;</p><p>This means that in the unlikely case of fraud, loss is limited to the funds you already have in your eWallet, which is also capped by the eWallet provider’s imposed transaction limit.&nbsp;</p><h3>3- Your identity matters&nbsp;</h3><p>To sign up as a new eWallet user, you have to start by registering an account – but it’s not as simple as creating a username and a password.&nbsp;</p><p>Once again, we can thank BNM’s Guideline on Electronic Money for this.&nbsp;</p><p>Among the four security measures highlighted in the document include<em> “authentication”, </em>where an authentication process is required to validate the user’s identity.</p><p><em>How</em> eWallet providers choose to do this isn’t stipulated, and they’re free to choose whatever tools and methods they like – hence why the registration procedure for eWallets in Malaysia tend to vary across the board.&nbsp;<br>Check out this table below from our article on<a href="https://blog.ewhallet.com/how-to-use-ewallets-for-beginners/"> how to use eWallets for beginners</a>. </p><p></p><figure class="wp-block-table"><table class=""><tbody><tr><td><div><strong>GrabPay</strong></div></td><td><div>Other than taking a picture of your NRIC or passport, Grab also provides you the option of selfie verification.</div></td></tr><tr><td><div><strong>Boost</strong></div></td><td><div>You will also need to provide a 6-digit transaction PIN to ensure only you can authorize all transactions in the app. You will also need to select your telco.</div></td></tr><tr><td><div><strong>Touch’n Go eWallet</strong></div></td><td><div>Just like Boost, you will also need to set a 6-digit PIN, as well as a security question on top of that.</div></td></tr></tbody></table></figure><p></p><h2>How can I stay safe when using eWallets?</h2><ul><li>Avoid connecting to public WiFi networks</li><li>Beware of phishing attempts</li><li>Only download eWallets from official websites/app stores (avoid email/message links)</li></ul><h2>Oh no! There’s an unauthorised transaction on my eWallet. What can I do?</h2><p>If you detect a transaction you didn’t make, most eWallets such as Grab and Boost will first advise you to check your recent transactions.&nbsp;</p><p>It might also be worth checking with friends or relatives who may have had access to your account and used it to perform the transaction.</p><p>Suppose you suspect your eWallet may have been compromised. If so, you will have to submit a request to your respective eWallet to have your case investigated.</p><p>Last year, Touch ‘n Go eWallet announced an interesting feature to address users’ security concerns – their<a href="https://www.tngdigital.com.my/features/mbg" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> Money-back Guarantee.</a></p><p>TNG’s Money-back Guarantee promises full compensation within 5 days if your TNG eWallet is charged with any unauthorised transactions. A feature like this certainly gives TNG eWallet a competitive edge, especially for non-users who still avoid eWallets for security concerns.&nbsp;</p>

It’s often said that the biggest barrier to eWallet adoption is security.  It’s a proven fact too. In Nielsen’s report… 

Is My Money Safe When I Use eWallets?

<p>So many eWallets, so many choices…</p><p>No one wants to be switching to and fro between different eWallets in their phone.&nbsp;</p><p>More than two at any one time, and you’re not only reaping the full benefits of either app – but you’ll probably forget about the money you stored in each of them to begin with.</p><p>In our never-ending search to find the eWallet that suits us best, we’ve written this article covering a few key factors that you should consider when deciding on which eWallet to use in the long run.</p><h2>Let’s look at the bigger picture first</h2><p>Before we list out the factors in detail, let’s take a look at the 3 overarching factors that all these factors fall under.</p><ul><li><strong>Usefulness&nbsp;</strong></li><li><strong>Ease of use</strong></li><li><strong>Privacy and Security</strong>&nbsp;</li></ul><p>This is quoted from our very own Malaysian academics at the International Islamic University of Malaysia, who published their paper on the <a href="https://www.researchgate.net/publication/340166261_Factors_Influencing_the_Use_of_E-wallet_as_a_Payment_Method_among_Malaysian_Young_Adults" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Factors Influencing the Use of E-wallet as a Payment Method among Malaysian Young Adults</a> just earlier this year.&nbsp;</p><p>In their paper, the perceived usefulness, perceived ease of use as well as privacy and security all contribute to consumers’ behavioral intention for eWallet usage.</p><p>Expanding off these 3 factors, let’s explore more on some of the most important factors Malaysians should consider when choosing an eWallet.</p><h2>Factors to consider when choosing an eWallet in Malaysia.</h2><ul><li><strong>How many merchants do they have?</strong></li><li><strong>Do they charge any fees?</strong></li><li><strong>What rewards will you get?</strong></li><li><strong>How protected is your money and personal data?</strong></li><li><strong>Specific features relevant to you </strong></li></ul><h3>1- How many merchants do they have?</h3><p>What’s the point of a fantastic, well-developed eWallet if you can’t use it anywhere?</p><p>In our ultimate guide where we compared the <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">top eWallets in Malaysia for 2020</a>, we listed the merchant count for some of the top eWallets in the market.&nbsp;</p><p>Touch n’ Go eWallet boasted a whopping 150,000, while closed-loop eWallets like Setel can only be used at a single merchant by design.&nbsp;</p><p>It’s also important to note that many eWallets don’t have independent merchants but partner with credit card networks.&nbsp;</p><p>GoPayz for example, is accepted wherever UnionPay, Visa and Mastercard is accepted. On the flipside, this rules out smaller merchants who don’t have a credit card terminal.&nbsp;</p><p>Even more important than the number of merchants however, is <em>who those merchants are.</em>&nbsp;</p><p>If you’re someone who tracks your every expenditure, you may notice certain patterns arise in where you’re spending your money. An eWallet which is accepted at all <em>(or most)</em> of the merchants you typically spend with is one to look out for!</p><h3>2- Do they charge any fees?</h3><p>EWallets can charge fees for either the merchant or the user. But don’t worry users – you can breathe easy. Most Malaysian eWallets in general are free to use <em>(key: most).&nbsp;</em></p><p>Most Malaysians aren’t willing to commit to an eWallet if they know they’ll be charged a fee, no matter how small that fee is. We’re willing to bet you feel the same way too.</p><p>Hence, always do your due diligence and keep an eye out for possible fees you’ll be charged. Some examples include <strong>withdrawal fees, currency conversion fees</strong>, and<strong> fees to upgrade your account or expand your eWallet limit.&nbsp;</strong></p><p>Read more on our article here where we delve more in-depth into the <a href="https://blog.ewhallet.com/ewallet-fees-and-charges/">types of fees eWallets charge</a>.</p><h3>3- What rewards will you get?</h3><p>When choosing which eWallet to use, rewards tend to be the primary factor most Malaysians consider first.&nbsp;</p><p>Rewards may come in the form of <strong>cashback, promotions with selected merchants</strong>, or <strong>reward points</strong> which are the most ubiquitous.&nbsp;</p><p>Note that most eWallets in Malaysia have more than one layer of rewards in place. We explain the <a href="https://blog.ewhallet.com/how-do-ewallet-rewards-work-in-malaysia/">reward schemes for Boost, GrabPay and Touch ‘n Go eWallet </a>in detail here.</p><h3>4- How protected is your money and personal data?</h3><p>As concluded by our Malaysian academics in their paper earlier, privacy and security is crucial to eWallet adoption.&nbsp;</p><p><em>But what does this mean to you as a user?</em></p><p>While there are no specific parameters set out by Bank Negara for a user to assess the risk of an eWallet, the <a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Guidelines on Electronic Money</a> does state that issuers must ensure proper risk management is in place.&nbsp;</p><p>So be wary of eWallets which are<em> not </em>licensed by Bank Negara, read through all the T&amp;C, and comply with the lengthy registration procedures some issuers may require.</p><h3>5- Other features which may be relevant to you</h3><p>The above are the most important factors to consider when choosing an eWallet. These 4 key factors aside, you should also base your decision on features which are important for <em>you.</em></p><ul><li><strong>If you travel often…</strong></li></ul><p>An eWallet’s global presence and currency conversion fee are worth noting.</p><ul><li><strong>If you always forget to top up your eWallet…</strong></li></ul><p>Look out for an auto-debit feature.</p><ul><li><strong>If you’re always transferring money to your parents/kids/relatives…</strong></li></ul><p>An instant transfer feature will not only be convenient, but rewarding too.</p><ul><li><strong>If you find paying your utility bills a drag…</strong></li></ul><p><a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">Utility bill payments </a>will be a lifesaving feature for you, and luckily aren’t that uncommon.&nbsp;</p><h2>The best eWallet to use in Malaysia according to these 4 features.</h2><p></p><figure class="wp-block-table"><table class=""><tbody><tr><td><div><strong>Number of merchants</strong></div></td><td><div>Maybank Anytime Anywhere (MAE)</div></td><td><div>MAE boasts the most merchants as found in our comparison article, at 250,000+ and counting.</div></td></tr><tr><td><div><strong>Fees and charges</strong></div></td><td><div>GrabPay, Touch’n Go eWallet</div></td><td><div>At present, GrabPay and Touch’n Go eWallet are completely free to use by users, with no hidden fees.</div></td></tr><tr><td><div><strong>Rewards</strong></div></td><td><div>Boost</div></td><td><div>Boost has multiple layers of rewards including CashUP, Shake Rewards and their loyalty programme. </div></td></tr><tr><td><div><strong>Privacy and protection </strong></div></td><td><div>GrabPay</div></td><td><div>GrabPay boasts award-winning anti-fraud technology and in 2016, won the Best Fraud Prevention Innovation 2016 award</div></td></tr></tbody></table></figure><p></p><p>Did we miss anything? Which factor is most important to you when choosing an eWallet to commit to? Let us know in the comments below.&nbsp;</p><p>To read more on <a href="https://blog.ewhallet.com/what-features-do-e-wallets-have/">what features eWallets in Malaysia have</a>, check out our recent article linked here.</p>

So many eWallets, so many choices… No one wants to be switching to and fro between different eWallets in their… 

Important Factors to Consider when Choosing an eWallet.

<p>With all the choices we have when it comes to eWallets in Malaysia, what else matters aside from rewards?&nbsp;</p><p>With more and more eWallets in Malaysia gravitating towards the path of a lifestyle app rather than for purely eWallet purposes, we see a rise in helpful features sprouting up in eWallets both big and small.&nbsp;</p><p>These days, you can use your eWallet to pay bills, buy insurance and do almost everything else under the sun.&nbsp;</p><p>The original purpose of eWallets (to store funds and make payments) has almost become secondary for many users!&nbsp;</p><p>Let’s explore some common features of eWallets…and some a little less common.</p><h2>Common eWallet features in Malaysia</h2><h3>Store funds&nbsp;</h3><p>Not so much a feature per se, but essentially the basic premise for most eWallets. No matter what eWallet you use, you should be able to treat it like a virtual wallet and store funds.</p><p><em>How</em> you upload the funds is a different question. With most eWallets, you upload through FPX online banking or with your credit/debit card. You can even set up monthly auto-debits to automate this process.&nbsp;</p><p>Do note though, that almost all eWallets will have a cap on the maximum amount of funds you can store at one time.&nbsp;</p><p>Touch ‘n Go eWallet for example, only permits a maximum of RM200 as a default, but the eWallet size can be upgraded to RM5000 upon successful account verification.</p><h3>Pay for purchases both online and offline</h3><p>It would be unexpected to say the least, if an eWallet doesn’t permit merchant payments.&nbsp;</p><p>With any basic eWallet, you should be able to make transactions physically in-store, as well as pay for purchases made online.</p><p>Some eWallets will triumph in this area, with an extensive list of hundreds of thousands of merchants. Others might lack here, limiting your usage, and thereby reducing your capability to reap rewards too.&nbsp;</p><h3>Rewards, deals, discounts and more!&nbsp;</h3><p>Coupons, cashback, vouchers, discounts…these are typically a <em>“nice to have”, </em>but are very much expected when it comes to eWallets.</p><p>An eWallet with no rewards whatsoever provides little incentive for the average user to use it for their daily purchases.&nbsp;</p><p>And while most eWallets in Malaysia don’t lack in rewards, there are the rare few whose rewards hardly add up too much – so keep that in mind when <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">comparing which eWallet to use.</a></p><h3>Instant transfer to other users&nbsp;</h3><p>Encouraging a cashless economy doesn’t stop at merchants alone.&nbsp;</p><p><em>Transferring allowance to your parents? Paying someone for a service rendered?</em> Online banking isn’t your only option – especially not when you would otherwise get rewarded for it.&nbsp;</p><p>Most eWallets offer instant transfers as a feature to users, where they can transfer funds to other users of the same eWallet. To encourage this, eWallet providers will typically reward both parties (or just the party who transferred the funds) with reward points.&nbsp;</p><p>If you’re lucky, your eWallet might even allow you to make instant transfers to other eWallets and bank accounts!</p><h2>Less common eWallet features in Malaysia&nbsp;</h2><h3>Withdraw cash from ATM</h3><p>ATM withdrawal is an eWallet feature that’s typically only seen in<a href="https://blog.ewhallet.com/how-do-ewallets-work-in-malaysia/"> card-based eWallets</a> for obvious reasons.&nbsp;</p><p>This can be an especially helpful feature when overseas. With the physical BigPay card for example, you can withdraw at any ATM globally for a fee of RM10.00.</p><h3>Pay for toll and parking</h3><p>Even on-the-road transactions are made more convenient. Another feature that some eWallets provide is the ability to pay for parking, tolls <em>(namely Touch ‘n Go eWallet)</em> and even petrol.&nbsp;</p><h3>Pay for utility bills</h3><p>That’s right. If you didn’t know already, bill payments are a popular feature in many eWallets in Malaysia!</p><p>Alongside telco reloads, such features position eWallets as all-rounded lifestyle apps which help to streamline payments in all aspects of life – rather than just a tool to store and transfer funds.&nbsp;</p><p>Click here for a step-by-step guide on <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">how to pay utility bills with eWallets</a>.&nbsp;</p><h3>Buy various financial products&nbsp;</h3><p>Malaysians can now use eWallets to get insured and even buy investments. Just recently in May 2020, Securities Commission Malaysia (SC) announced that <a href="https://www.sc.com.my/api/documentms/download.ashx?id=0274f358-5adb-42b0-a4d3-39ef0f64b6f9" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">capital market products can now be sold through e-service platforms.</a></p><p>This isn’t an entirely new concept. GoPayz is one example of an eWallet which builds their concept mainly around insurance products. GoPayz users can pick from various life insurance, motor, travel and personal accident insurance. Users can also easily invest in unit trusts directly from the app.</p><p>Touch ‘n Go eWallet has also expressed enthusiasm following SC’s announcement, claiming that they will be rolling out a suite of financial management products of their own. Certainly something we can look forward to!</p><h3>International remittance&nbsp;</h3><p>Just cause an eWallet is based in Malaysia doesn’t mean users can only use it within the country alone. In addition to domestic transfers, many eWallets allow users to send money to their loved ones across the globe.&nbsp;</p><p>International bank transfers incur hefty costs, and are subject to unfavourable exchange rates.</p><p>On the other hand, eWallets such as BigPay offer cheaper, fixed transaction fees and competitive exchange rates. For users who often have to remit money across borders, using eWallets can shave off some of the costs <em>(and headache)</em> in the long run.&nbsp;</p><p>Do note that BigPay is limited to 9 countries at the moment – each with varying fees. </p><h2>What features do Malaysian eWallets have?</h2><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02.png" alt="e-wallet features comparison" class="wp-image-1413" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02.png 680w, https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02-300x251.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02-600x502.png 600w" sizes="(max-width: 680px) 100vw, 680px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="0"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02.png" alt="e-wallet features comparison" class="wp-image-1413" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02.png 680w, https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02-300x251.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02-600x502.png 600w" sizes="(max-width: 680px) 100vw, 680px" /></noscript></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02.png" alt="e-wallet features comparison" class="wp-image-1413" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02.png 680w, https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02-300x251.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/06/blog_ewhalletFeatures-02-600x502.png 600w" sizes="(max-width: 680px) 100vw, 680px" /></noscript></figure><p></p><p>If you found this article on eWallet rewards in Malaysia helpful, check out our other <a href="https://blog.ewhallet.com/ewallet-101-malaysia/">eWallet 101 guides and resources!&nbsp;</a></p><p>Comment below and let us know what’s the most important feature for you when choosing which eWallet to use. </p>

With all the choices we have when it comes to eWallets in Malaysia, what else matters aside from rewards?  With… 

What Features do eWallets Have?

<p><em>Let’s be honest, shall we?</em>&nbsp;</p><p>If eWallets didn’t come with any rewards whatsoever, few of us would be using them to begin with.&nbsp;</p><p>But that’s all fine and well. After all, rewards such as cashback and vouchers benefit all parties involved – users, merchants and providers.&nbsp;</p><p>Read on to find out how to earn and use your rewards, and why <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">eWallet providers</a> are competing neck and neck to offer users the most value for their transactions.&nbsp;</p><h2>How do eWallet rewards work in Malaysia?</h2><ul><li>User loads funds into their eWallet</li><li>Users spends with a partnered merchant</li><li>User receives rewards depending on their respective eWallet</li><li>Rewards can be used to redeem vouchers or freebies</li></ul><p>The entire premise for offering rewards is to encourage Malaysians to load more funds into their eWallet and carry out more transactions with merchants.</p><p>The funds are deposited into a trust account with a licensed financial institution as per requirement by Bank Negara.</p><p>Here, providers typically reap from funds accumulated in said accounts, partnerships with merchants, as well as merchant fees (among other things).</p><p>The concept of earning rewards is simple, but various eWallet providers usually have different types of reward programmes to know of. We explore more on this below.</p><h2>Types of eWallet rewards</h2><ul><li>Rewards points&nbsp;</li><li>Vouchers&nbsp;</li><li>Cashback</li><li>Promotions with selected merchants&nbsp;</li><li>Prizes from in-app games and competitions</li></ul><p>Most eWallets layer on multiple programmes for a more rewarding experience. A general starting point is rewards points, where a certain amount of RM spent awards you with points in exchange.&nbsp;</p><p>From there, these points can then be accumulated and used for various purposes depending on the eWallet provider. This could mean purchasing cashback, buying vouchers or using your reward points to claim products/promotions.&nbsp;</p><h2>How Boost rewards works</h2><p>Boost has various layers to their rewards, starting off with their <strong>Boost Loyalty Programme</strong>. Via this programme, users accumulate coins and use them to redeem vouchers and gifts of their choosing.&nbsp;</p><p>While new Boosters will be given free 50 coins at the start of their membership, the exact number of coins users received per transaction is dependent on Boost. The Ringgit-to-points conversion isn’t made publicly available, but we do know that it depends on:</p><ul><li>the transaction amount</li><li>type of transaction</li><li>your current level</li></ul><p>There also tiers within the Boost Loyalty Programme<strong> (BoostUP levels)</strong>. Your level is determined based on how much you have spent and the number of transactions you have made in the last 30 days.&nbsp;</p><p>The more you spend, the higher you level up, and the more coins and rewards you will receive. </p><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11.png" alt="boost reward benefits" class="wp-image-1401" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11.png 251w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11-171x300.png 171w" sizes="(max-width: 251px) 100vw, 251px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="0"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11.png" alt="boost reward benefits" class="wp-image-1401" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11.png 251w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11-171x300.png 171w" sizes="(max-width: 251px) 100vw, 251px" /></noscript></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11.png" alt="boost reward benefits" class="wp-image-1401" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11.png 251w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-11-171x300.png 171w" sizes="(max-width: 251px) 100vw, 251px" /></noscript></figure><p></p><p>That’s not all. Boost also employs more straightforward programmes such as <strong>CashUP</strong>, where users earn cashback when they shop online from Boosted partners through the Boost app itself.&nbsp;</p><p>Think <a href="https://www.shopback.my/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">ShopBack</a>. What’s interesting here is that users can pay with other payments methods and <em>still </em>get to enjoy the cashback.&nbsp;</p><p>The cherry on top? <strong>Shake Rewards. </strong>For every transaction made, users are entitled to a Shake Reward, a lucky draw of sorts where you quite literally shake your phone. Among the prizes to be redeemed include extra coins, prizes or the grand Golden Ticket, which act as a single lucky draw entry to a <a href="https://www.myboost.com.my/boostup-golden-ticket/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Golden Giveaway</a>.&nbsp;</p><p>Shake rewards are applicable for the following transactions types only:</p><ul><li>Mobile Prepaid top up</li><li>Celcom Bill payments&nbsp;</li><li>&nbsp;Scan &amp; Pay transactions</li><li>&nbsp;Utility bill payments</li><li>Parking payments</li></ul><p><strong>Rewards expiry.</strong> Cashback from the CashUP programme does not expire. Coins from the BoostUP programme are valid for 1 year.&nbsp;</p><h2>How Grab rewards works</h2><p>While Grab may not boast as many types of reward programmes as Boost does, the system is simple to grasp and almost equally rewarding.&nbsp;</p><p>More importantly, the entire Grab ecosystem including GrabRides, GrabFood, GrabExpress and GrabMart all intertwine so that users can reap rewards from almost every aspect of their daily spending. Day-to-day conveniences have never been more rewarding.</p><p>Grab’s rewards points conversion at the time of writing is as below. Do note that GrabRewards points will only be rewarded for cashless payments. <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">Utility bill payments</a> aren’t included either. </p><p></p><figure class="wp-block-table"><table class=""><tbody><tr><td><div><strong>Member</strong></div></td><td><div>1.5 points for every RM1 spent </div></td></tr><tr><td><div><strong>Silver</strong></div></td><td><div>1.5 points for every RM1 spent</div></td></tr><tr><td><div><strong>Gold</strong></div></td><td><div>2.25 points for every RM1 spent</div></td></tr><tr><td><div><strong>Platinum</strong></div></td><td><div>3 points for every RM1 spent</div></td></tr></tbody></table></figure><p></p><p>These points can then be accumulated to redeem vouchers to be used within Grab, and everything else from air miles to concert tickets.&nbsp;</p><p>How many points do I need to claim RM5 off a grab ride, or RM10 off my GrabDelivery bill?&nbsp;</p><p>If you’re using your points to redeem from Grab’s other services, there’s a fixed points-to-ringgit ratio as below:</p><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12.png" alt="grabrewards points" class="wp-image-1408" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12.png 528w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12-300x227.png 300w" sizes="(max-width: 528px) 100vw, 528px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="1"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12.png" alt="grabrewards points" class="wp-image-1408" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12.png 528w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12-300x227.png 300w" sizes="(max-width: 528px) 100vw, 528px" /></noscript></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12.png" alt="grabrewards points" class="wp-image-1408" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12.png 528w, https://blog.ewhallet.com/wp-content/uploads/2020/06/image-12-300x227.png 300w" sizes="(max-width: 528px) 100vw, 528px" /></noscript></figure><p></p><p>As with most eWallets, a rewards points programme means one can expect tiers. Accumulating 200 points and above grants you Silver status, 900 grants you Gold, while 3500 and above puts you at Platinum.&nbsp;</p><p><strong>Rewards expiry: </strong>GrabRewards points are valid for 3 months.&nbsp;</p><p><em>*Tip: Keep your points alive by making at least one transaction every 3 months.&nbsp;</em></p><h2>How Touch ‘n Go eWallet rewards works&nbsp;</h2><p>Touch ‘n Go eWallet isn’t exactly known for their extravagant rewards. There simply aren’t any clearly defined programmes for users to earn rewards consistently.&nbsp;</p><p>Instead, TNG eWallet relies primarily on promotional campaigns with partnered merchants. Most of their promotions entail a certain amount of cashback that will be credited into their TNG eWallet.</p><p>The bottom line is, with Touch ‘n Go eWallet, it’s pertinent to stay updated so you don’t miss out on exciting deals which are relevant to you.&nbsp;</p><p>Use our site here to discover all the<a href="https://blog.ewhallet.com/best-ewallet-deals/"> latest eWallet deals in Malaysia</a>!</p>

Let’s be honest, shall we?  If eWallets didn’t come with any rewards whatsoever, few of us would be using them… 

How do eWallet Rewards Work in Malaysia? (Boost, Grab, TNG)

Take one look at our name, and it’s pretty evident that we’re obsessed with eWallets.  Fortunately, we as Malaysians are… 

Comparing the Top eWallets in Malaysia (2020)

<h2>The basics: What are eWallet fees?</h2><p>If you’ve ever found yourself wondering where eWallets actually derive their profits from<em> (especially when they’re giving away so much cash-back)</em>, one of the ways is through fees charged to users and/or merchants.</p><p>Such fees could include merchant fees, withdrawal fees or fees for premium accounts. We’ll explore these further below.</p><p>Do note that such fees typically only make up for a small percentage of revenue for eWallet providers. Hence why most <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">Malaysian eWallets</a> completely waive it off – allowing users and merchants both to use their eWallet completely for free!</p><h2>What type of fees do eWallets typically charge?</h2><p>eWallet fees and charges in Malaysia</p><p></p><figure class="wp-block-table is-style-regular"><table class="has-fixed-layout"><thead><tr><th><div>For Users</div></th><th><div>For Merchants</div></th></tr></thead><tbody><tr><td><div>Deposit fees</div></td><td><div>Transaction fees (MDR)</div></td></tr><tr><td><div>Withdrawal fees</div></td><td><div>Joining fees</div></td></tr><tr><td><div>ATM Withdrawal fees</div></td><td><div><br></div></td></tr><tr><td><div>Internal transaction fees</div></td><td><div><br></div></td></tr><tr><td><div>Currency conversion fees</div></td><td><div><br></div></td></tr><tr><td><div>Premium account fees</div></td><td><div><br></div></td></tr></tbody></table></figure><p></p><h2>Deposit fees</h2><p>Deposit fees may also be known as top up fees, and are imposed when you top up funds into your eWallet. Most eWallets in Malaysia don’t charge this fee, but most do have a maximum limit on the amount of funds you can store in your eWallet at any one time.</p><h2>Withdrawal fees</h2><p>Withdrawal fees are charged when you choose to retrieve funds from your eWallet and transfer them into your bank account. Boost refers to this as Cash-Out, and charges 2% of the Cash-Out amount <em>(up to a maximum fee of RM2 for each request)</em></p><h2>ATM Withdrawal fees</h2><p>Card-based eWallets like BigPay sometimes allow you to withdraw cash from select ATMs, similar to a debit or credit card. These may incur separate fees from withdrawal to your bank account.&nbsp;</p><h2>Internal transaction fees</h2><p>Internal transaction fees are also known as remittance fees. In recent years, many eWallets have introduced the feature to perform fund transfers to other users of the same eWallet. As handy of a feature as it is, you may incur a fee to send money via this feature.&nbsp;</p><h2>Currency conversion fees</h2><p>You might not associate this with eWallets, but bigger eWallets which accept cross-border transactions will typically have this fee. The best example? <em>PayPal.</em> PayPal charges between 3.5% – 4.0% depending on the currency into which the amount is converted</p><h2>Account upgrade fees</h2><p>Earlier, we mentioned how most Malaysian eWallets will place a cap on the maximum balance you can have in your eWallet. If you’re wondering why, such limits are imposed to mitigate any possible fraudulent transactions.&nbsp;</p><p>Premium account fees are one-time fees that you can opt for to upgrade your eWallet balance size if you find yourself in need of larger capacity. You’d be glad to know though, that most Malaysian eWallets will<em> not </em>charge you to upgrade your account. Instead, you might be asked to provide extra authentication of your identity<em> (as with Boost)</em>.&nbsp;</p><p>TNG eWallet also allows you to increase your maximum eWallet size from the default RM200 to RM1500 upon linking your credit/debit card, or up to RM5000 once you register as an RFID user.&nbsp;</p><h2>Transaction fees (MDR)</h2><p>While eWallet users in Malaysia aren’t usually charged fees, this is where merchants get the short end of the stick.&nbsp;</p><p>Merchants looking to partner with certain eWallet companies may be charged a transaction fee or merchant discount rate of approximately 0.5 – 3.0% of every transaction made from customers using the respective eWallet.</p><h2>Joining fees</h2><p>Joining fees or signup fees are one-time fees merchants may be requested to pay in order to partner with an eWallet company.&nbsp;</p><h2>What fees are Malaysian eWallets charging? <em>(for users only)</em></h2><p></p><figure class="wp-block-image size-full"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-full" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1.png" alt="eWallet fees malaysia" class="wp-image-1356" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1.png 2417w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-300x116.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1024x395.png 1024w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-768x296.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1536x592.png 1536w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-2048x790.png 2048w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-600x231.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-780x301.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1200x463.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1920x740.png 1920w" sizes="(max-width: 2417px) 100vw, 2417px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="0"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1.png" alt="eWallet fees malaysia" class="wp-image-1356" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1.png 2417w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-300x116.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1024x395.png 1024w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-768x296.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1536x592.png 1536w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-2048x790.png 2048w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-600x231.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-780x301.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1200x463.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1920x740.png 1920w" sizes="(max-width: 2417px) 100vw, 2417px" /></noscript></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1.png" alt="eWallet fees malaysia" class="wp-image-1356" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1.png 2417w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-300x116.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1024x395.png 1024w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-768x296.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1536x592.png 1536w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-2048x790.png 2048w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-600x231.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-780x301.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1200x463.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/05/blog_ewhalletFeesTable-01-1-1920x740.png 1920w" sizes="(max-width: 2417px) 100vw, 2417px" /></noscript></figure><p></p><p>These fees aside, look out for annual fees, account cancellation fees, or even fees to retrieve account info from your eWallet provider.</p><p>All in all though, us Malaysians sure are lucky! Most <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">eWallets in Malaysia</a> don’t charge any fees for users <em>at all. </em>Knowing that, let’s use the eWallets that are available to us to our advantage.</p><p>If you’re keen for more info on eWallets, check out our <a href="https://blog.ewhallet.com/ewallet-basics/">previous eWallet articles</a>!</p>

The basics: What are eWallet fees? If you’ve ever found yourself wondering where eWallets actually derive their profits from (especially… 

What type of fees do eWallets charge?

<p>No doubt, this year’s Hari Raya Aidilfitri will be different from the Raya we’re used to. Just as with Ramadan however, we can still maintain some semblance of tradition.&nbsp;</p><p>Be it last minute shopping for <em>baju raya </em>or a meal to be shared with family over Zoom, a contactless Raya doesn’t have to be an unpleasant one. In this article, we’ve compiled some tips on how you can still keep the festive spirit alive even during these trying times.&nbsp;</p><h2>1- Save on your daily necessities&nbsp;</h2><p>We’re all entering Raya this year with tighter cash flow, but that doesn’t mean you have to scrimp on basic necessities.&nbsp;</p><p>Instead of facing the lines shopping at your usual grocery stores, buy your essentials online instead! <a href="https://shopee.com.my/m/raya-offlinebazar-223009" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Shopee’s Raya campaign </a>offers daily essentials from as low as RM10 for a variety of everyday necessities plus free shipping with a minimum spend of RM19 and above.</p><p>To give you an example, the RM10 everyday necessities deals for the 20th of May included a 3-pack combo of Vit’s instant noodles and 2 one-litre cartons of Goodday UHT chocolate milk for just RM10 each.&nbsp;</p><p>Here’s another bonus tip for you before you checkout. Consider paying with <strong>ShopeePay</strong> – Shopee’s very own eWallet for a seamless checkout journey plus extra discounts and promotions.&nbsp;</p><h2>2- Duit Raya, the contactless way&nbsp;</h2><p>Are small-scale Raya family gatherings permissible? <em>Yes.</em> Are they a wise choice? <em>Well…no.&nbsp;</em></p><p>With duit raya packets being such a vulnerable form of passing contact, it’s best not to take any risks and go the digital route with your duit raya. During this time, many Malaysians may also be celebrating Raya on their lonesome, scattered in different states or overseas.&nbsp;</p><p>Fret not though, as the digital duit raya options of today are far from emotionless instant transfers. Instead, they come<em> “packaged”</em> in festive green packets as with Maybank’s eDuit-Raya.&nbsp;</p><p>In fact, Maybank is expecting duit raya transactions to grow by<a href="https://www.maybank.com/en/news-support/newsroom-detailpage.page?detailId=158988137512903" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> 30%</a> during this year’s Raya. You can send eDuit-Raya via Raya QR on the Maybank2u App or via phone number using the MAE e-wallet in the Maybank2u App.</p><p>You can even get cashback for sending duit raya <em>(imagine that!). </em>This year, Touch ‘n Go eWallet have introduced their<a href="https://www.tngdigital.com.my/duitraya" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> “Raya Sempoi 2020</a>” campaign. All you have to do is send a minimum of RM5 as duit raya via their “Transfer” function, and be rewarded with guaranteed cashback ranging from RM0.10 all the way up to RM300!</p><h2>3- Smarter baju raya shopping</h2><p>You can still celebrate Raya in style even during the conditional MCO. <em>Who said baju raya shopping has to set you back hundreds anyway?</em></p><p>Even if you’ve no plans to be leaving the house anytime soon, the festive promotions during this period may be a good excuse for you to grab that outfit you’ve been eyeing on all this while.&nbsp;</p><p>Check out these double-whammy promotions we’ve compiled below. Not only do you get to enjoy the savings themselves, but also the extra rewards stacked on top of it upon paying with the respective eWallet.</p><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div>eWallet</div></th><th class="has-text-align-center" data-align="center"><div>Merchant</div></th><th class="has-text-align-center" data-align="center"><div>Promo Period</div></th><th class="has-text-align-center" data-align="center"><div>Promo Details</div></th></tr></thead><tbody><tr><td><div>Grab</div></td><td class="has-text-align-center" data-align="center"><div>Zalora</div></td><td class="has-text-align-center" data-align="center"><div>9 April 2020 –<br>&nbsp;7 June 2020</div></td><td class="has-text-align-center" data-align="center"><div><a href="https://www.grab.com/my/campaign/grabrayadeals-grabpay/#tnc" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">30% off with code ‘GRABRAYA’</a></div></td></tr><tr><td><div>Grab</div></td><td class="has-text-align-center" data-align="center"><div>PrestoMall</div></td><td class="has-text-align-center" data-align="center"><div>9 April 2020 –<br>&nbsp;7 June 2020</div></td><td class="has-text-align-center" data-align="center"><div><a href="https://www.grab.com/my/campaign/grabrayadeals-grabpay/#tnc" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">30% off on selected items</a></div></td></tr><tr><td><div>Grab</div></td><td class="has-text-align-center" data-align="center"><div>FashionValet</div></td><td class="has-text-align-center" data-align="center"><div>9 April 2020 –<br>&nbsp;7 June 2020</div></td><td class="has-text-align-center" data-align="center"><div><a href="https://www.grab.com/my/campaign/grabrayadeals-grabpay/#tnc" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">RM30 off with code ‘GRABFASHIONRAYA’</a></div></td></tr><tr><td><div>Boost</div></td><td class="has-text-align-center" data-align="center"><div>Zalora</div></td><td class="has-text-align-center" data-align="center"><div>10 April 2020 – 30 June 2020</div></td><td class="has-text-align-center" data-align="center"><div><a href="https://www.myboost.com.my/ramadan-raya-2020/online-shopping/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Get RM15 cashback</a></div></td></tr><tr><td><div>Boost</div></td><td class="has-text-align-center" data-align="center"><div>PopLook</div></td><td class="has-text-align-center" data-align="center"><div>16 March 2020 – 8 June 2020</div></td><td class="has-text-align-center" data-align="center"><div><a href="https://www.myboost.com.my/ramadan-raya-2020/online-shopping/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Get up to 15% cashback </a></div></td></tr><tr><td><div>Touch ‘n Go eWallet</div></td><td class="has-text-align-center" data-align="center"><div>Naelofar</div></td><td class="has-text-align-center" data-align="center"><div>27 April 2020 – 31 May 2020</div></td><td class="has-text-align-center" data-align="center"><div><a href="https://www.tngdigital.com.my/naelofar-rm30cashback" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Get up to RM30 cashback</a></div></td></tr></tbody></table></figure><p></p><h2>4- For everything else!&nbsp;</h2><p>Needless to say, there’s so much more to Hari Raya than just a spanking new outfit. Perhaps you’ll be taking this time to spring clean, cook up festive staples, or entertain family and friends who pop by to visit (with adequate social distancing precautions, of course).&nbsp;</p><p>If so, there’s an eWallet promotion for every aspect of your Raya needs. Check them out below!</p><ul><li><strong>A healthier alternative to raya cookies</strong></li></ul><p>Instead of kuih bangkit and almond londons, stray away from the norm and try out healthier snacks from Signature Market. <a href="https://www.signaturemarket.co/my/marketplace/snack/2213/view-product.html?promo=freegift&amp;source=boostrewards&amp;campaign=partnership&amp;medium=boostuserrewards" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Save 58% off their Raya-Raya Sihat Gaya Bundle</a> when you register as a member, and pay with either Boost or GrabPay to stack on the rewards.</p><ul><li><strong>Housekeeping made easy&nbsp;</strong></li></ul><p>If you’re returning to work to an office taken over by dust bunnies, you might want to enlist cleaning help from the pros. Use the promo code <strong>GRAB4RAYA</strong> to <a href="https://www.grab.com/my/campaign/grabrayadeals-cleanfix/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">get 30% off Grab’s various Clean &amp; Fix services</a>, including car sanitisation and disinfection.</p><ul><li><strong>For all those miscellaneous purchases</strong></li></ul><p>You’ve probably made more than one random online purchase during this MCO. Pots for your new gardening hobby, or baking tools for all the kitchen magic you’ve been up to? Either way, remember to check your<strong> Lazada</strong> cart out with Touch ‘n Go eWallet to get <a href="https://www.tngdigital.com.my/lazada-rm3off" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">RM3 cashback</a>, or <a href="https://www.tngdigital.com.my/lazada-newuser" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">RM6 cashback</a> if you’re a new user.&nbsp;</p><ul><li><strong>If you’re on the hunt for new home appliances</strong></li></ul><p>Take your<em> rendang</em> to the next level with some handy kitchen appliances. <a href="http://tngdigital.com.my/lazada-newuser/23-promo/419-tefal-raya-lazada" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Get up to RM30 off for Tefal appliances on Lazada</a>, or <a href="https://www.grab.com/my/campaign/grabrayadeals-grabpay/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">enjoy up to 20% off on electronics and IT gadgets from Senheng.</a></p><ul><li><strong>Your Raya entertainment sorted</strong></li></ul><p>You’ve been trying to make family movie nights a thing (to no avail). Who knows? A Viu membership might just be the catalyst to make that happen! <a href="https://www.grab.com/my/campaign/grabrayadeals-grabpay/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Get 20% off with Grab</a>, and <a href="https://www.tngdigital.com.my/viu-rm3cashback" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">RM3 cashback with Touch ‘n Go eWallet.&nbsp;</a></p><p><em>Selamat Hari Raya Aidilfitri, </em>and hope you found our carefully curated articles helpful throughout MCO. Follow us on Facebook or Instagram to keep up with more of our guides and articles!&nbsp;</p>

No doubt, this year’s Hari Raya Aidilfitri will be different from the Raya we’re used to. Just as with Ramadan… 

Tips on Celebrating Raya 2020: Deals, Promos and More!

<p>EWallets may be all the rage, but that doesn’t mean you should use them without second thought.&nbsp;</p><p>As savvy Malaysian spenders – we need to be wary of the pros and cons that come with eWallets before choosing to use one payment method over the other.</p><p>Often, it’s not a matter of which triumphs which, but choosing the payment method that suits our lifestyle best. Below, we explore where eWallets rise above – and where they fall short.</p><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div>Pros of Using eWallets </div></th><th><div>Cons of Using eWallets </div></th></tr></thead><tbody><tr><td><div>– Saves more money in the long run<br>– Frees up pocket space<br>– Lower risk of loss or theft </div></td><td><div>– You can’t use it everywhere<br>– Is highly dependent on your phone<br>– Can be a bit of a hassle to use </div></td></tr></tbody></table></figure><p></p><h2>Pros of Using eWallets</h2><ol><li>Saves more money in the long run&nbsp;</li></ol><p>For many, this is the sole reason why they use eWallets to begin with. In fact, eWallet savings are the sole premise behind our comparison site<a href="https://blog.ewhallet.com/best-ewallet-deals/"> eWhallet</a>, where we compile eWallet deals and promotions for free access by everyone!</p><p>Each eWallet company typically has a strong incentive to attract users. For <strong>Grab</strong>, that comes in the form of their Grab Rewards Points. For <strong>Boost</strong>, it’s their Shake Reward and Coins.&nbsp;</p><p>These reward points can then be used to redeem discounts and cashback for future purchases made with the app. With consistent usage of the same eWallet, you end up saving money without having to actively cut back on expenses.</p><ol start="2"><li>Frees up pocket space</li></ol><p>Notice that we didn’t describe eWallets as <em>convenient</em>.&nbsp;</p><p>We’ll touch on that in our eWallets cons below, but there’s one fact that can’t be argued – using eWallets allows you to leave the house a whole lot lighter. No hard cash, no non-essential cards, no bulky coins.</p><p>For women who tend to carry heavy handbags around, you end up saving time by not having to dig through the contents of your handbag to look for your purse.</p><ol start="3"><li>Lower risk of loss or theft&nbsp;</li></ol><p>The issue of security is often brought up when the topic of eWallets comes about. While no payment method is completely risk-free, eWallets can oftentimes be the more secure option.</p><p>Think of the multi-authentication process most eWallets require to verify a transaction.&nbsp;</p><p><strong>Touch ‘n Go eWallet</strong> is a great example. Before every transaction, users are required to enter a security PIN as well as an OTP number. The company also provides a Money-Back Guarantee Policy in the case of unauthorised transactions.</p><p>Because eWallet accounts aren’t linked to your bank account or card, any instances of hacking will ensure that the hacker won’t be able to access your funds in their entirety either. Plus, not carrying physical cash also reduces the risk of you becoming victim to a snatch theft or ATM robbery.&nbsp;</p><h2>Cons of Using eWallets</h2><ol><li>You can’t use it everywhere</li></ol><p>If you didn’t know by now, eWallet usage isn’t universal. You’re limited to only merchants who have partnered with the eWallet you’re using. Then again, that goes for debit and credit cards as well since not all merchants have a POS terminal in place.</p><p>This isn’t a huge problem with more popular eWallets who consistently take on new merchants, from hawker stalls to laundry services. The key is to choose an eWallet which supports most of the merchants you typically spend at.&nbsp;</p><ol start="2"><li>Is highly dependent on your phone</li></ol><p>While being able to pay via your phone may be convenient, it also comes with its concerns.&nbsp;</p><p><em>“What if my battery runs out and I haven’t got a power bank or cable within reach?”</em></p><p><em>“What if the internet connection is bad and I can’t access my app?”</em></p><p>These are all valid concerns, and serve as a reminder that just as with income – we should never rely on a single source alone.</p><ol start="3"><li>Can be a bit of a hassle to use&nbsp;</li></ol><p>Earlier, we mentioned that eWallets aren’t necessarily convenient. You might forget to top up your balance and find yourself frantically loading up your eWallet at the last minute.&nbsp;</p><p>While paying via eWallets may lengthen the in-person payment process slightly, it’s a small issue auto-debit can easily fix. All you have to do is set up the auto debit function and customise how much you want to be automatically topped up.&nbsp;</p><p>By increasing the friction of the checkout process, this limitation might even work in your favour by forcing yourself to second guess unnecessary purchases.</p><h2>Pros and Cons: Cash vs Cards vs eWallet</h2><p>Below is a brief comparison table of how these 3 forms of payment fare up to each other when placed side by side. There’s a lot we could cover here, so keep an eye out for our full, in-depth comparison.</p><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div><br></div></th><th><div><strong>Cash</strong></div></th><th><div><strong>Credit/Debit Cards</strong></div></th><th><div><strong>eWallet</strong></div></th></tr></thead><tbody><tr><td><div><strong>Availability</strong></div></td><td><div>Accepted almost everywhere offline</div></td><td><div>Limited to merchants with POS terminal</div></td><td><div>Limited to merchants partnered with respective eWallet</div></td></tr><tr><td><div><strong>Safety and security</strong></div></td><td><div>Higher risk of loss and theft </div></td><td><div>Higher risk of exposure to third parties</div></td><td><div>Risk typically tied to mobile phone access</div></td></tr><tr><td><div><strong>Value for money </strong></div></td><td><div>None</div></td><td><div>Redeem rewards or cashback for spending with credit cards&nbsp; </div></td><td><div>Accumulate reward points and more for spending&nbsp;<br><br>Take advantage of eWallet deals constantly available</div></td></tr><tr><td><div><strong>Fees</strong></div></td><td><div>None</div></td><td><div>Annual fees<br><br>May incur small transaction fee <em>(typically absorbed by merchant) </em></div></td><td><div>May incur small transaction fee <em>(typically absorbed by merchant)</em></div></td></tr></tbody></table></figure><p></p><p>That concludes the latest instalment in our <a href="https://blog.ewhallet.com/ewallet-101-malaysia/">eWallet 101</a> series! Check out more articles on our <a href="https://blog.ewhallet.com/">blog</a> here to expand your eWallet knowledge, or click here to find the latest <a href="http://blog.ewhallet.com/best-ewallet-deals/">eWallet deals and promotions</a>.</p>

EWallets may be all the rage, but that doesn’t mean you should use them without second thought.  As savvy Malaysian… 

Pros and Cons of Using eWallets

<p>Your colleagues use it to pay for lunch everyday, your sister keeps sharing promotions on the family group chat, and the other day – you overheard your elderly next door neighbor talking about it.</p><p>If your phone still isn’t home to an eWallet, ask yourself why?</p><p>Are you happy as you are with the payment methods you’re currently using, or do you just find the whole concept of eWallets dubious?</p><p>Our <a href="https://blog.ewhallet.com/ewallet-101-malaysia/">eWallet 101 </a>series aims to unravel some of the mysteries surrounding <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">eWallets in Malaysia</a> for the average user. In this article, you’ll find out how to use eWallets to help you embark on your own eWallet user journey!</p><h2>How do eWallets actually work?</h2><p>First, you might want to know the backend of things. You can read our article on <a href="https://blog.ewhallet.com/how-do-ewallets-work-in-malaysia/">how eWallets work in Malaysia</a>, but in summary – an eWallet is a digital version of a traditional wallet where you store funds and use them where accepted.</p><h2>Why bother with eWallets in the first place?&nbsp;</h2><p>As compared with other payment methods, eWallets are superior in both<em> convenience</em> and <em>value</em>.</p><p>When you spend with most eWallets, you’ll be gifted with reward points or other similar freebies in exchange. Accumulated over the long term, using these wisely can help save a significant amount on your monthly costs.&nbsp;</p><p>The meagre interest you get in your savings account can hardly compare. And if safety is an important factor to you (as it should be) – eWallets are a much safer option compared to carrying cash on your person.</p><h2>How to Use eWallets for Beginners</h2><p><strong>Step 1: Registering an account</strong><br><strong>Step 2: Loading your funds</strong><br><strong>Step 3: Spending your funds</strong><br><strong>Step 4: Earning and using rewards</strong></p><p></p><p></p><h2>Step 1: Registering an account</h2><p></p><p></p><p>There are over 40 eWallets in Malaysia, each with their respective registration process. In general however, you can expect a signup process that looks something along these lines:&nbsp;</p><p></p><p></p><ol><li>Download the app and sign up for a new account</li><li>Key in your contact number&nbsp;</li><li>Enter the 6-digit TAC number received</li><li>Provide verification of your identity</li><li>Create your account by entering a username and password&nbsp;</li><li>Start using!&nbsp;</li></ol><p></p><p></p><p>Again, this is a rough guideline of what to expect as registration procedures vary across the board. Some will be more comprehensive than others.&nbsp;</p><p></p><p></p><p>Below is a simple table on the differences in registration between a few of the most popular eWallets in Malaysia.&nbsp;</p><p></p><p></p><p></p><p></p><p></p><figure class="wp-block-table"><table><tbody><tr><td><div><strong>GrabPay</strong></div></td><td><div>Other than taking a picture of your NRIC or passport, Grab also provides you the option of selfie verification.</div></td></tr><tr><td><div><strong>Boost</strong></div></td><td><div>You will also need to provide a 6-digit transaction PIN to ensure only you can authorize all transactions in the app. You will also need to select your telco.</div></td></tr><tr><td><div><strong>Touch ‘n Go eWallet</strong></div></td><td><div>Just like Boost, you will also need to set a 6-digit PIN, as well as a security question on top of that.</div></td></tr></tbody></table></figure><p></p><p></p><p></p><h2>Step 2: Loading your funds</h2><p></p><p></p><p>Now that you’ve got your account up and running, you’re going to need to load funds into your eWallet. Remember – eWallets are <em>not </em>directly linked to your bank account. This means that you’ll have to add funds into your eWallet beforehand to start using.</p><p></p><p></p><p>You can do this several ways.&nbsp;</p><p></p><p></p><ul><li>Top up via <em>online banking</em></li><li>Top up via <em>debit/credit cards&nbsp;</em></li></ul><p></p><p></p><p>This process can be done within the app itself. For a more hands-off way to ensure you’ve always got funds in your eWallet, you also have the option to set up an <strong>auto debit </strong>where a fixed amount of your choosing is deducted on a monthly basis.&nbsp;</p><p></p><p></p><p>Auto debits are deducted from your credit or debit card, whereas direct debits are deducted directly from your bank account.</p><p></p><p></p><p>Most eWallets incur no charges for the top up process, and require no minimum balance either.&nbsp;</p><p></p><p></p><p>That said, it’s best practice to always maintain more than you think you need in your eWallet. No one wants to find themselves standing in front of the counter frantically loading funds when trying to make a purchase!</p><p></p><p></p><h2>Step 3: Spending your funds</h2><p></p><p></p><p><em>“Where can I spend my funds?”</em></p><p></p><p></p><p>The only caveat to the convenience that eWallets provide is that unlike cash – it’s not universally acceptable…yet.&nbsp;</p><p></p><p></p><p>You are only able to spend at merchants who have partnered with the specific eWallet you’re using, hence why it’s so important to choose the eWallet that’s right for you.&nbsp;</p><p></p><p></p><p>The good thing is that as eWallet adoption rate grows in Malaysia, more and more merchants are looking to hop on board and leverage off the huge user base of the more popular eWallets.&nbsp;<br>This means that aside from restaurants and retailers (both online and offline), Malaysians can now use eWallets to pay for groceries, <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">utility bills</a>, insurance,<a href="https://blog.ewhallet.com/how-to-pay-for-zakat-with-ewallets/"> zakat</a>, charity…the list goes on.</p><p></p><p></p><h2>Step 4: Earning and using rewards</h2><p></p><p></p><p>Got the gist of how eWallets work in Malaysia? <em>Great. </em>Now you can learn how to fully optimise your usage and get the most out of your eWallet.</p><p></p><p></p><p>As we’ve mentioned, every Ringgit you spend with your eWallet will reward you with either reward points or something along those lines.&nbsp;</p><p></p><p></p><p>These reward points can then be used to chip off some money from your next transaction amount. You can also accumulate them to exchange for vouchers or free items. You can find all this in your eWallet app.</p><p></p><p></p><p>With <strong>GrabPay</strong> for example, 600 reward points can get you RM5 off a Grab ride. <strong>Boost </strong>also offers what are called <em>“Coins”</em> as well as a <em>“Shake”</em> for every transaction – a lucky draw of sorts where you stand the chance to be rewarded with cashback, coins or prizes.</p><p></p><p></p><p>With that in mind, here are a few ways to optimise your rewards.</p><p></p><p></p><ul><li><strong>Spend at merchants who accept your reward points&nbsp;</strong></li></ul><p></p><p></p><p>If it isn’t going to make much of a difference in terms of how much you would otherwise spend, choose to spend from the list of merchants who are currently offering promotions for paying with your eWallet.&nbsp;</p><p></p><p></p><ul><li><strong>Offer to pay on behalf of others&nbsp;</strong></li></ul><p></p><p></p><p>Not everyone may be as rewards-savvy as you. Take advantage of that and pay for the entire group the next time someone’s birthday dinner rolls around. 10 people = 10 times the rewards!&nbsp;</p><p></p><p></p><ul><li><strong>Keep an eye out for eWallet deals and promos</strong></li></ul><p></p><p></p><p>Merchants want you to buy from them, and eWallet issuers want you to use them. This means that there will always be promotions which you can leverage on. Use our site here to <a href="https://blog.ewhallet.com/best-ewallet-deals/">find all the eWallet deals in Malaysia</a>.&nbsp;</p><p></p><p></p><p>Keen to learn even <em>more</em> about eWallets? Like us on <a href="https://www.facebook.com/ewhallet/">Facebook</a> or <a href="https://www.instagram.com/ewhallet/">Instagram </a>so you’ll be the first to know when we publish a new article!</p><p></p>

Your colleagues use it to pay for lunch everyday, your sister keeps sharing promotions on the family group chat, and… 

How to Use eWallets for Beginners

<p><em>In the second instalment of our </em><a href="https://blog.ewhallet.com/ewallet-basics/"><em>eWallet 101 series</em></a><em>, we’ll be diving into the two different types of eWallets currently present in Malaysia. But before that – read our previous article here on </em><a href="https://blog.ewhallet.com/how-do-ewallets-work-in-malaysia/"><em>how eWallets work in Malaysia</em></a><em> to get all caught up!&nbsp;</em></p><p>By now, you’re probably no stranger to eWallets. You might use them on the daily for convenience’s sake or to save money on your spendings.&nbsp;</p><p>But did you know there’s more than one type of eWallet in Malaysia?</p><p>Read on to learn how the two types of eWallets differ from each other, how they work, and when you should be using which.&nbsp;</p><h2>The 2 Types of eWallets in Malaysia</h2><p><a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">eWallets in Malaysia</a> can be broadly categorised into two types – <em>open-loop</em> and <em>closed-loop</em>.&nbsp;</p><ol><li><strong>Open-loop&nbsp;</strong></li></ol><p>Open-loop eWallets are ubiquitous in Malaysia. When you think of eWallets in general, this type is most likely what comes to mind.</p><p>Grab and Touch ‘N Go eWallet for example, are both open-loop.&nbsp;</p><p>Open-loop eWallets here are typically prepaid, meaning that instead of connecting directly to your bank account or credit card etc, they have to be topped up first and the balance used up from there.&nbsp;</p><p>You can use this type of eWallet to pay for goods and services at select merchants that have partnered up with the eWallet issuer. Merchants can include your everyday F&amp;B outlets and retail stores, but also charity organisations and insurance!&nbsp;</p><p>Either way, you’re capable of paying at many different locations from a centralised eWallet. It also goes without saying that the more merchants a particular open-loop eWallet issuer provides, the more convenient it is for you as the user.&nbsp;</p><p>In terms of licensing and regulations, open-loop eWallets are required to obtain an e-money license in order to operate in Malaysia. Below is the official definition of e-money as per Bank Negara’s <a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Guideline on Electronic Money.</a></p><p><em>“E-money is defined in the Payment Systems (Designated Payment Instruments) Order 2003 as a payment instrument, whether tangible or intangible that:</em></p><ul><li><em>stores funds electronically in exchange of funds paid to the issuer; and</em></li><li><em>is able to be used as a means of making payment to any person other than the issuer.” </em></li></ul><ol start="2"><li><strong>Closed-loop&nbsp;</strong></li></ol><p>The less popular counterpart, closed-loop eWallets are prepaid as well – but function very differently.&nbsp;</p><p>With this type, you’re only able to use your funds to make purchases at a specific retailer. Being exclusive to a specific company means that there’s no need to seek authorisation as well as not being subject to any regulations in Malaysia.&nbsp;</p><p>A great example is Starbucks’ loyalty program. You’re offered a physical card which you can buy and load cash directly into the card over the counter. Everytime you make a purchase from Starbucks, the amount is deducted from the balance in your card and you earn reward points in exchange <em>(sounds familiar?).</em></p><h2>Open-loop vs Closed-loop eWallets [Comparison]</h2><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div><br></div></th><th><div><strong>Open-loop </strong></div></th><th><div><strong>Closed-loop</strong></div></th></tr></thead><tbody><tr><td><div><strong>Usage Capability</strong></div></td><td><div>Can be used at multiple merchant locations</div></td><td><div>Can be used with the specific issuer only</div></td></tr><tr><td><div><strong>Pros</strong></div></td><td><div>Convenient as can be used for a variety of purchases at a multitude of merchant locations</div></td><td><div>Allows for faster payment processing</div></td></tr><tr><td><div><strong>Cons</strong></div></td><td><div>Payment process is lengthier for security purposes. </div></td><td><div>Funds are kept locked up and cannot be withdrawn for purposes other than purchasing from the specific issuer</div></td></tr><tr><td><div><strong>Fees</strong></div></td><td><div>Fees typically absorbed by the merchant or issuer</div></td><td><div>Joining fees usually required</div></td></tr><tr><td><div><strong>Examples</strong></div></td><td><div>GrabPay<br>Boost<br>Touch ‘N Go&nbsp;<br>ShopeePay&nbsp;<br>kiplePay&nbsp;<br>GoPayz<br>BigPay </div></td><td><div>AEON Wallet<br>The Coffee Bean Card&nbsp;<br>Starbucks Card </div></td></tr></tbody></table></figure><p></p><h2>Which Type of eWallet Should I Be Using?</h2><p><strong>Use open-loop eWallets if: </strong>You find it difficult to limit your spending and want more value for your money.&nbsp;</p><p>Using closed-loop eWallets at your favourite stores may encourage you to spend more to utilize the funds that you’ve committed to the issuer. On the other hand, being able to use open-loop eWallets for various purposes such as <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">utility bills</a> and insurance means you get more bang for your buck from the rewards reaped.&nbsp;</p><p><strong>Use closed-loop eWallets if: </strong>You’re a regular shopper and faithful to the retailer.</p><p>Opting for this type of eWallet can be a smart money-saving move if <em>(and only if!)</em> you know for sure that you spend on a regular basis with the retailer in question. The supermarket you buy your groceries from every week, the java spot where you get your coffee without fail every single day etc.</p><p>If you found this article helpful, follow us on our social media channels by clicking the buttons on the top right of this page to stay updated. More handy <a href="https://blog.ewhallet.com/ewallet-101-malaysia/">eWallet guides</a> coming your way!</p>

In the second instalment of our eWallet 101 series, we’ll be diving into the two different types of eWallets currently… 

Types of eWallets in Malaysia

<p>In this holy month of Ramadan, many Malaysians may be wondering how they should go about paying for their zakat.&nbsp;</p><p>While most zakat collection centres will be open while employing social distancing, it’s still not advised to head out the house unless absolutely necessary. The next best option that would come to mind for most is <a href="https://fpx.zakatselangor.com.my/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">E-Zakat PAY</a> – the official online payment portal.</p><p>But did you know you can also make cashless zakat payments via eWallets?&nbsp;</p><h2>What is zakat in the first place?</h2><p>Perhaps you’re an expat, or never fully understood what zakat is and why we pay for it.&nbsp;</p><p>Zakat is an obligatory religious donation in Islam. It’s one of the five pillars of Islam, with the other four being profession of faith <em>(syahadah)</em>, prayer <em>(solat)</em>, fasting <em>(puasa)</em> and pilgrimage <em>(haj)</em>.&nbsp;</p><p>Paying zakat is a means of purifying the wealth you have accumulated by donating it to the needy, hence why it’s paid in proportion to your earnings. This is known as<em> zakat harta.&nbsp;</em></p><p><em>Zakat fitrah</em> on the other hand, is paid during Ramadan and is equivalent to the value of a bushel of the variety of rice eaten in one’s home. You can find this year’s rates for your respective state <a href="https://www.mysumber.com/zakat-fitrah.html" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">here</a>.&nbsp;</p><h2>Which eWallet can be used to pay zakat?&nbsp;</h2><p>At the moment, <strong>Boost </strong>and <strong>GoPayz </strong>are the only eWallets in Malaysia to provide a zakat payment feature.&nbsp;</p><p>Both apps’ partnership with Selangor Zakat Board (LZS) means Malaysians now have an even more convenient option to make their zakat contributions from the safety of their home.&nbsp;</p><p>Haven’t heard of <a href="https://www.gopayz.com.my/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">GoPayz</a> before? You’re looking at U Mobile’s very own eWallet just launched last year. In fact, GoPayz was the first eWallet in Malaysia to provide a zakat payments feature!</p><p>Recent statements by <strong>Touch ‘N Go eWallet</strong> also claim that the company is in the works of introducing their own zakat payments feature. Though you won’t be able to find this feature on the TNG app just yet, it’s definitely something to keep an eye out for.&nbsp;</p><p>On that note, major eWallet player<strong> Grab</strong> also has yet to introduce a method of paying zakat via their app. While Muslim driver-partners were previously able to opt-in for automatic zakat deduction,<a href="https://www.grab.com/my/blog/driver/car/making-zakat-contribution-easier/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> that feature</a> is currently on hold due to the Movement Control Order.</p><p>Bookmark this article as we will be updating it in accordance to new zakat features launched by eWallets in Malaysia!</p><h2>How to pay for zakat with Boost eWallet</h2><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-410x1024.png" alt="how to pay zakat with boost" class="wp-image-1334" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-410x1024.png 410w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-120x300.png 120w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-768x1920.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-819x2048.png 819w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-600x1500.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-780x1950.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-1200x3000.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-1920x4799.png 1920w" sizes="(max-width: 410px) 100vw, 410px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="0"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-410x1024.png" alt="how to pay zakat with boost" class="wp-image-1334" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-410x1024.png 410w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-120x300.png 120w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-768x1920.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-819x2048.png 819w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-600x1500.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-780x1950.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-1200x3000.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-1920x4799.png 1920w" sizes="(max-width: 410px) 100vw, 410px" /></noscript><figcaption>how to pay zakat with Boost</figcaption></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-410x1024.png" alt="how to pay zakat with boost" class="wp-image-1334" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-410x1024.png 410w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-120x300.png 120w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-768x1920.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-819x2048.png 819w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-600x1500.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-780x1950.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-1200x3000.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_Boost_BM-01-1920x4799.png 1920w" sizes="(max-width: 410px) 100vw, 410px" /></noscript><figcaption>how to pay zakat with Boost</figcaption></figure><p></p><ul><li><strong>Step 1:</strong> Select <em>“zakat” </em>in your Boost homepage </li><li><strong>Step 2:</strong> Find out if the zakat feature is available in your state </li><li><strong>Step 3:</strong> Add new zakat account </li><li><strong>Step 4:</strong> Fill in your details </li><li><strong>Step 5:</strong> For zakat fitrah, select <em>“harga beras”</em> and pay&nbsp;</li></ul><h3>Step 1: Select “zakat” in your Boost homepage</h3><p>Open your Boost app and you should see a “zakat” tile in the homepage. Click on the tile to proceed to the next step.</p><h3>Step 2: Find out if the zakat feature is available in your state</h3><p>Currently, Malaysians residing in five regions can make their zakat contributions via Boost. Stay tuned for more states!</p><ul><li>Kedah</li><li>Selangor</li><li>Wilayah Persekutuan</li><li>Wilayah Labuan</li><li>Wilayah Putrajaya</li></ul><h3>Step 3: Add new zakat account</h3><p>You will be asked to add a new zakat account. This handy feature allows you to key in your details and it will be automatically saved for the next time you make another contribution.</p><p>Select either Zakat Harta or Zakat Fitrah based on which you’re paying for. If you’re helping someone else pay for their zakat, simply open another account with their details instead.&nbsp;</p><h3>Step 4: Fill in your details</h3><p>Insert your details such as name, contact number, NRIC number and the number of persons you are paying for.</p><h3>Step 5: For Zakat Fitrah, select <em>“harga beras”</em> and pay&nbsp;</h3><p>Your total amount will be automatically calculated based on the<em> “harga beras”</em> and number of pax you have filled in. After payment, you will receive your receipt via e-mail which you can then use for tax rebate purposes.&nbsp;</p><h2>How to pay for zakat with GoPayz eWallet</h2><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-410x1024.png" alt="how to pay zakat with GoPayz" class="wp-image-1333" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-410x1024.png 410w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-120x300.png 120w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-768x1920.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-600x1500.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-780x1950.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01.png 800w" sizes="(max-width: 410px) 100vw, 410px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="1"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-410x1024.png" alt="how to pay zakat with GoPayz" class="wp-image-1333" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-410x1024.png 410w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-120x300.png 120w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-768x1920.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-600x1500.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-780x1950.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01.png 800w" sizes="(max-width: 410px) 100vw, 410px" /></noscript><figcaption>how to pay zakat with GoPayz</figcaption></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-410x1024.png" alt="how to pay zakat with GoPayz" class="wp-image-1333" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-410x1024.png 410w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-120x300.png 120w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-768x1920.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-600x1500.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01-780x1950.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/05/PayZakatEwallet_GoPayz_BM-01.png 800w" sizes="(max-width: 410px) 100vw, 410px" /></noscript><figcaption>how to pay zakat with GoPayz</figcaption></figure><p></p><ul><li><strong>Step 1:</strong> Go to “Services” &gt; “Islamic“ &gt; “Zakat” </li><li><strong>Step 2:</strong> Choose your preferred zakat collection body</li><li><strong>Step 3:</strong> Choose your zakat payment option and proceed with payment</li></ul><h3>Step 1: Go to “Services” &gt; “Islamic“ &gt; “Zakat”</h3><p>After signing up for GoPayz, click on “Services” &gt; “Islamic” &gt; “Zakat” in either the app or website.</p><h3>Step 2: Choose your preferred zakat collection body</h3><p>Choose from 4 zakat collection bodies currently available on GoPayz. Those are:</p><ul><li>Lembaga Zakat Selangor (LZS)</li><li>Majlis Agama Islam dan Adat Melayu Perak (MAIPk)</li><li>Lembaga Zakat Negeri Kedah (LZNK)</li><li>Pusat Pungutan Zakat-MAIWP (PPZ-MAIWP)</li></ul><h3>Step 3: Choose your zakat payment option and proceed with payment</h3><p>From there, you will be directed to an external website operated by the respective body. Choose your zakat payment option and proceed with the payment process.&nbsp;</p><h2>Why pay for zakat with eWallets?</h2><p>Though making your zakat contributions via eWallet doesn’t entitle you to any of the usual benefits <em>(Boost Coins, Shake Rewards etc.)</em>, it still makes for the more convenient option.</p><p>These days, eWallets are more than a digital way to store cash and make transactions. Use them to <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">pay your utility bills</a>, make charitable donations and pay for your groceries – and that’s just scratching the surface.</p><p>So while you continue to use your eWallet to reap rewards and discounts for your daily transactions, you can continue to use the same platform for other aspects of life as an all-in-one payment option.</p><p>For more eWallet tips this Ramadan, check out our guide on<a href="https://blog.ewhallet.com/how-to-celebrate-ramadan-fasting/"> How to Celebrate Ramadan to the Fullest during CMCO!</a></p>

In this holy month of Ramadan, many Malaysians may be wondering how they should go about paying for their zakat. … 

How to Pay for Zakat with eWallets

<p>Blink and it’s fasting month once more! Granted, this year’s Ramadan may be different from previous years – what with all the uncertainty and restrictions that abound.&nbsp;</p><p>But despite not being able to <em>balik kampung </em>to spend this time with our loved ones, we can still observe Ramadan in all its glory despite the air of uncertainty it brings.&nbsp;</p><p>In fact, with all the initiatives from businesses and individuals alike, we can still celebrate Ramadan without missing out on any of the usual festivities! From the various ways you can donate to buying from your local bazaar – here is our guide to making the most of your Ramadan despite COVID-19.</p><h2>Buying groceries for a home-cooked <em>Iftar</em> feast </h2><h3>1- Use online catalogues to plan in advance and limit grocery trips </h3><p>Make groceries a weekly thing (or even once in 2 weeks if that’s feasible for you). Take some time out to plan your <em>Sahur</em> and<em> Iftar </em>meals for the week and form your grocery list accordingly.&nbsp;</p><p>You could even go the extra mile for savings’ sake and plan your meals according to what’s on promotion right now.&nbsp;</p><p>Don’t worry, you don’t even need to be instore to get your hands on the catalogues. We’ve linked them for you below so you can browse from the comfort of your home.</p><h5>Ramadan Promotional Supermarket Catalogues</h5><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div>Supermarket</div></th><th><div>Validity period</div></th><th><div>Catalogue link</div></th></tr></thead><tbody><tr><td><div>Tesco</div></td><td><div>23 April 2020 – 6 May 2020</div></td><td><div><a href="https://www.tesco.com.my/Promotions/Catalogue/This-Week/" target="_blank" rel="noreferrer noopener" aria-label="View Tesco Catalogue (opens in a new tab)">View Tesco Catalogue</a></div></td></tr><tr><td><div>Giant</div></td><td><div>23 April 2020 – 6 May 2020</div></td><td><div><a href="https://www.giant.com.my/catalogue" target="_blank" rel="noreferrer noopener" aria-label="View Giant Catalogue (opens in a new tab)">View Giant Catalogue</a></div></td></tr><tr><td><div>AEON BiG</div></td><td><div>24 April 2020 – 7 May 2020</div></td><td><div><a href="https://aeonbig.com.my/catalogue/?National-Catalogue-24th-Apr-7th-May-2020" target="_blank" rel="noreferrer noopener" aria-label="View AEON BiG Catalogue (opens in a new tab)">View AEON BiG Catalogue</a></div></td></tr></tbody></table></figure><p></p><h3>2- Get your groceries delivered to your doorstep</h3><p>While your favorite grocery delivery platforms may be flooded with orders right now, there are plenty others who still have the capacity to deliver. The key is to anticipate late deliveries and&nbsp; order in advance.&nbsp;</p><p>Below, we’ve compiled a list of online grocery delivery services which deliver during the Ramadan period.</p><ol><li><a href="https://potboy.com.my/index.php/ramadan.html">Potboy.com</a>&nbsp;</li><li><a href="https://mygroser.com/en/index">MyGroser.com</a></li><li><a href="https://www.pantryexpress.my/">PantryExpress.my</a></li><li><a href="https://bigboxasia.com/my/">BigBoxAsia.com</a></li><li><a href="https://eshop.tesco.com.my/groceries/">Tesco Groceries</a></li><li><a href="https://www.grab.com/my/mart/">Grab Mart </a></li></ol><p>Use the promo code <strong><em>MART2U</em></strong> for free delivery on Grab Mart, and as always – pay with your eWallet of choice to enjoy more value for the money you spend on groceries!</p><h3>3- Get 30% off on sweet treats for <em>buka puasa</em></h3><p>We all need our scrumptious non-negotiable dates and cookiesfor Ramadan. Stock up wisely by making use of the Ramadan promotions below.</p><ol><li><strong>Grab Mart: 30% off on Mahnaz Food with promo code <em>RAYAMART</em>&nbsp;</strong></li></ol><p>If you’re going to buy your dates from the popular<a href="https://www.mahnazfood.com/"> Mahnaz Food,</a> you might as well buy via Grab Mart to enjoy 30% off. Promo code is only valid for orders placed before 5pm, with minimum spending of RM25. Pay via GrabPay to get those reward points too!</p><ol start="2"><li><strong>AEON Hari Raya Kurma Promotion</strong></li></ol><p>Valid from 20 April 2020 – 3 June 2020, pick your preferred dates from AEON’s range of affordable dates.</p><h2>Online shopping for your <em>baju raya</em> needs and more</h2><h5>1- Online Baju Raya &amp; Fashion shopping promotions for Ramadan 2020</h5><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div>eWallet</div></th><th><div>Merchant</div></th><th><div>Promo Period</div></th><th><div>Promo Details</div></th></tr></thead><tbody><tr><td><div>Boost</div></td><td><div>POPLOOK</div></td><td><div>16 March 2020 – 8 June 2020</div></td><td><div><a href="https://support.myboost.com.my/hc/en-us/articles/900000368083-Boost-Gaya-Raya-Poplook-Campaign" target="_blank" rel="noreferrer noopener" aria-label="Get up to 15% Cashback (opens in a new tab)">Get up to 15% Cashback</a></div></td></tr><tr><td><div>Boost</div></td><td><div>PrestoMall</div></td><td><div>20 April 2020 – 31 May 2020</div></td><td><div><a href="https://support.myboost.com.my/hc/en-us/articles/900000642486-Shopping-Shopping-Raya-Online-Prestomall-Campaign" target="_blank" rel="noreferrer noopener" aria-label="Get up to 12% Cashback (opens in a new tab)">Get up to 12% Cashback</a></div></td></tr><tr><td><div>Boost</div></td><td><div>ZALORA</div></td><td><div>10 April 2020 – 30 June 2020</div></td><td><div><a href="https://support.myboost.com.my/hc/en-us/articles/900000581606-Zaloraya-2020-Campaign" target="_blank" rel="noreferrer noopener" aria-label="Get RM15 Cashback (opens in a new tab)">Get RM15 Cashback</a></div></td></tr><tr><td><div>Grab</div></td><td><div>Fashion Valet</div></td><td><div>9 April 2020 – <br>7 June 2020</div></td><td><div><a href="https://www.grab.com/my/pay-deals/others/grabpay-online-merchants/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">Get up  to 30% discount</a></div></td></tr><tr><td><div>Grab</div></td><td><div>PrestoMall</div></td><td><div>9 April 2020 – <br>7 June 2020</div></td><td><div><a rel="noreferrer noopener" href="https://www.grab.com/my/pay-deals/others/grabpay-online-merchants/" target="_blank">Get up  to 30% discount</a></div></td></tr><tr><td><div>Grab</div></td><td><div>Zalora</div></td><td><div>9 April 2020 – <br>7 June 2020</div></td><td><div><a rel="noreferrer noopener" href="https://www.grab.com/my/pay-deals/others/grabpay-online-merchants/" target="_blank">Get up  to 30% discount</a></div></td></tr><tr><td><div>Touch’ n Go eWallet</div></td><td><div>WowShop</div></td><td><div>6 April 2020 – <br>28 June 2020</div></td><td><div><a href="https://www.tngdigital.com.my/myrewards">Get up to RM40 Cashback</a></div></td></tr><tr><td><div>Touch’ n Go eWallet</div></td><td><div>Lazada</div></td><td><div>6 April 2020 – <br>28 June 2020</div></td><td><div><a href="https://www.tngdigital.com.my/myrewards">Get up to RM40 Cashback</a></div></td></tr><tr><td><div>Touch’ n Go eWallet</div></td><td><div>PrestoMall</div></td><td><div>6 April 2020 – <br>28 June 2020</div></td><td><div><a href="https://www.tngdigital.com.my/myrewards">Get up to RM40 Cashback</a></div></td></tr></tbody></table></figure><p></p><h5>2- Online Make up &amp; Skincare shopping promotions for Ramadan 2020</h5><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div>eWallet</div></th><th><div>Merchant</div></th><th><div>Promo Period</div></th><th><div>Promo Details</div></th></tr></thead><tbody><tr><td><div>Boost</div></td><td><div>Naelofar&nbsp;<br>YSL Beauty&nbsp;<br>Kiehls<br>Lancome<br>Mimpikita<br>Venus Skin<br>The Body Shop</div></td><td><div>20 April 2020 – 19 May 2020</div></td><td><div><a href="https://support.myboost.com.my/hc/en-us/articles/900000643043-Boost-Gaya-Raya-Umbrella-Online-Campaign" target="_blank" rel="noreferrer noopener" aria-label="Get RM8 Cashback (opens in a new tab)">Get RM8 Cashback</a></div></td></tr><tr><td><div>Grab</div></td><td><div>MUCA Skincare<br>Sinjune Diagnostic Healthcare<br>SF Beauty Skin<br>The Face Shop</div></td><td><div>03 April 2020 – 03 May 2020</div></td><td><div><a href="https://www.grab.com/my/pay-deals/others/grabpay-online-merchants/" target="_blank" rel="noreferrer noopener" aria-label="Get up to 10% Off (opens in a new tab)">Get up to 10% Off</a></div></td></tr></tbody></table></figure><p></p><h2>Bring the joy of Ramadan bazaars into your own home</h2><h3>1- Buy from various e-bazaar platforms to support local businesses </h3><p>Not being able to enjoy the usual festivity of Ramadan bazaars is a small price to pay for our health and safety. In its stead, many platforms have popped up to help bridge the gap between hungry fasters and merchants in need of customers.&nbsp;</p><p>That’s right, you can still savour your Ramadan favourites during this period!</p><p>So the next time you’re thinking of <em>buka puasa</em> plans for the family, think of your local neighborhood vendors.</p><ol><li><strong>Bazaar-Rakyat.com</strong></li></ol><p>Bazaar Rakyat is a web-based online bazaar which serves 8 states across Malaysia. Here, you can get everything from <em>kuih</em> to <em>baju raya </em>to <em>murtabak </em>from local merchants. Click here to <a href="https://bazaar-rakyat.com/">start browsing Bazaar Rakyat</a>.&nbsp;</p><ol start="2"><li><strong>Grab e-Kitchen</strong></li></ol><p>A joint effort by Grab, the Selangor state government and Hijrah Malaysia – Grab e-Kitchens provides a selected list of locations where local merchants can continue to sell food to be delivered to your doorstep. Orders can be made between 2:30pm – 6:00pm.&nbsp;</p><p>To order, click on the<em> “Order bazaar Ramadan favourites”</em> tile in your Grab app homepage. Below are the locations serviced at the moment.&nbsp;</p><ol><li>Petaling Jaya</li><li>Damansara TTDI</li><li>Subang Jaya</li><li>Puchong</li><li>Semenyih</li><li>Seri Kembangan</li><li>Klang</li><li>Cyberjaya</li><li>Bangi</li><li>Ampang</li></ol><ol start="3"><li><strong>GrabExpress Ramadan</strong></li></ol><p>Another initiative by Grab to continue supporting local vendors and riders during this period is GrabExpress Ramadan. Through this, local vendors can continue selling their signature Ramadan delights from home with the help of Grab delivery personnel.&nbsp;</p><p>To order, click on the<em> “Delivering from home-based sellers”</em> tile in your Grab app homepage. </p><h3>2- Look for your neighborhood bazaar on Facebook</h3><p>Can’t find your favorite dish on any of these platforms? Your usual neighborhood bazaar might be on Facebook – like this<a href="https://www.facebook.com/groups/SJRamadhan/"> online bazaar from Subang Jaya</a>!</p><p>Internet-savvy vendors have smartly taken to Facebook to continue business during Ramadan. With the assurance of a safe contactless delivery, all you have to do is scroll through the listings on the Facebook group and order directly from your vendor of choice. </p><h3>3- Order from your favourite restaurants with DeliverEat</h3><p>We don’t all have the time to cook up a feast everyday. Perhaps you’re overly concerned about the safety of ordering from local sellers?</p><p>In that case, you can still get your meals delivered to you for cheap via DeliverEat! Below are 2 ongoing promotions DeliverEat is having in conjunction with Touch ‘N Go eWallet.&nbsp;</p><ol><li><a href="https://www.tngdigital.com.my/delivereat">FREE DELIVERY when you spend minimum RM15 with your Touch ‘N Go eWallet (worth RM5.00)&nbsp;</a></li><li><a href="https://www.tngdigital.com.my/delivereat-ramadan">Get RM5 off when you spend minimum RM10 with your Touch ‘N Go eWallet on selected e-bazaar vendors. Use the promo code RAMADAN.</a>&nbsp;</li></ol><h2>Donating during times of crisis</h2><p><em>A little goes a long way.</em> Though many of us may be dipping into our emergency funds or facing unemployment during this period, donate what you can – and know that any charitable deed you can manage extends far beyond the value of the donation itself.&nbsp;</p><p>Here are 3 ways to play your part this Ramadan from the safety of your home. </p><h3>1- Utilize the “Zakat” feature in your Boost app</h3><p>Under<em> “Ramadan Highlights”</em> in your Boost homepage, click on the<em> “Zakat”</em> tile to pay via your Boost eWallet. Convenient and simple, your future donations thereafter are a lot more seamless once you’ve created your account. For more details, check out our guide on <a href="https://blog.ewhallet.com/how-to-pay-for-zakat-with-ewallets/">How to Pay Zakat with eWallets</a>.</p><h3>2- Give back via Boost’s cashless charity donation features</h3><p>Boost certainly makes charitable giving a breeze. After making a transaction with Boost, you can choose to donate your Shake reward to a charity of your choice.&nbsp;</p><p>Another option is to tap on any charity of your choice and key in your desired donation amount. Of note is <a href="https://www.myboost.com.my/boost-got-you-mco/">Tabung COVID-19 </a>which was specially created by Boost to help those directly or indirectly affected by the current situation.</p><h3>3- Look out for drive thru <em>zakat</em> collection counters at your mosque</h3><p>Certain mosques may have also set up zakat collection counters to ease the donation process. However, cashless donations are still recommended during this period. </p><h2>On maintaining the Ramadan family spirit</h2><h3>Gather virtually for<em> buka puasa</em>!</h3><p>No doubt, the element of Ramadan that will be most dearly missed is having your<em> Iftar</em> meals with the entire extended family. Perhaps your open houses were something everyone looked forward to every year?&nbsp;</p><p>Virtual gatherings may help to mend that hole for you. Gather everyone into a group call 15 minutes or so before. Come <em>buka puasa, </em>you’ll be able to replicate some of that joy of eating together.&nbsp;</p><p>It might take some effort to help older family members navigate Zoom or Google Hangouts, but it’ll all be worth it in the end!</p><p><em>Ramadan Mubarak</em> and a blessed Ramadan from all of us at eWhallet – your go-to for finding <a href="https://beta.ewhallet.com/">the best eWallet deals in Malaysia</a>. </p>

Blink and it’s fasting month once more! Granted, this year’s Ramadan may be different from previous years – what with… 

A Guide on How to Celebrate Ramadan to the Fullest during CMCO

<p><em>Imagine this.</em><strong> </strong>For every purchase you make, you get to accumulate reward points and cashback. That goes for every part of your life that money touches – groceries, food, entertainment and even <a href="https://blog.ewhallet.com/how-to-pay-utility-bills-with-e-wallets/">utility bills</a>!</p><p>But savings and rewards are only one aspect of why more and more Malaysians are embracing eWallets.&nbsp;</p><p>With close to 50 eWallet providers circulating around at the moment (plus many fizzling out as competition gets fiercer), those who aren’t so familiar might be wondering about the true nature of eWallets.&nbsp;</p><p><em>How do they even work in the first place?</em></p><h2>What exactly is an eWallet?</h2><p>An eWallet is a digital version of a traditional wallet. You store funds in a secure environment by transferring it over from your debit card, credit card or via online banking.&nbsp;</p><p>You can then use the funds in your eWallet for anything a traditional wallet might – paying for goods and services, transferring funds to someone else etc.</p><p>Why the need for this extra step, you might ask?&nbsp;</p><p>Using eWallets allows for a much swifter payment process. Shopping online? Instead of logging in to your online banking account or typing in your card details, all you have to do is pay from your digital wallet.</p><p>The same goes for offline shopping. When making a purchase from a merchant, all you need is your phone and you’re set – no scrambling through your handbag or having to worry about having enough cash in your wallet.&nbsp;</p><p>In short, the authentication process is simplified drastically while still keeping your funds safe and secure. Not to mention, all the<a href="https://beta.ewhallet.com/?_ga=2.64750191.1343824255.1586614044-678399334.1586614044"> </a>sweet<a href="https://beta.ewhallet.com/?_ga=2.64750191.1343824255.1586614044-678399334.1586614044"> eWallet deals</a> that the provider or merchant will offer as an incentive.</p><h2>Network-based vs Card-based eWallets</h2><p>Most Malaysians are familiar with eWallets as mobile applications – Boost, GrabPay and Touch ‘n Go eWallet – all come in this form. These are network-based eWallets.&nbsp;</p><p>In most cases, network-based eWallets function on a prepaid basis. Contrary to popular belief, these eWallets<em> are not</em> connected directly to your bank account – hence why funds have to be loaded in before they can be used.</p><p>Mobile applications aside, you’ve also got your card-based eWallets, who may partner with credit card networks such as Visa, Mastercard or UnionPay. These include BigPay and AEON wallet among others.&nbsp;</p><p>Such eWallets issue physical cards as well, so you can still enjoy swiping and scanning as you would with a debit/credit card.<br>All eWallets can also be classified further into closed, semi-closed and open, though that’s a topic for another day<em>.</em></p><h2>Flowchart of the eWallet process</h2><p>If you’re wondering how eWallets work and how many parties are involved in every eWallet transaction, ask no more.&nbsp;</p><p>Below, we’ve simplified the flow of the eWallet process in Malaysia. </p><p></p><figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th><div><strong>How eWallets work in Malaysia</strong></div></th></tr></thead><tbody><tr><td><div>1- Verify user identity</div></td></tr><tr><td><div>2- User deposits funds</div></td></tr><tr><td><div>3- Funds are stored in a licensed trust account</div></td></tr><tr><td><div>4- User scans merchant’s QR code to pay</div></td></tr></tbody></table></figure><p></p><p><strong>Verify user identity</strong></p><p>The user might be asked to provide personal details to verify their identity. These usually include a front and back photo of their IC/Passport and a clear selfie.</p><p><strong>User deposits funds</strong></p><p>The user deposits funds into their eWallet via credit card, debit card or online banking. They may also choose to set up auto-deduction here.</p><p><strong>Funds are stored in a licensed trust account</strong></p><p>The funds are deposited into a trust account with a licensed financial institution <a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf">as per requirement by Bank Negara</a>.&nbsp;</p><p><strong>User scans merchant’s QR code to pay</strong></p><p>To confirm the transaction, the user will scan the QR code presented by the merchant. For dynamic QR codes, all the user has to do is authenticate the transaction. Static QR codes on the other hand, will require the user to input the transaction amount.</p><p>Some eWallets also work the other way round, where the merchant scans the QR code presented by the user.</p><h2>What’s the eWallet landscape like in Malaysia?</h2><p>Here in Malaysia, eWallets must meet certain criteria and fulfill specific requirements to obtain licensing by Bank Negara. Click here for the official <a href="https://www.bnm.gov.my/microsite/ps/gl_016_3.pdf">Guideline on Electronic Money.</a></p><p>Not <em>all</em> eWallets are subject to these requirements though. These requirements don’t extend to <em>“closed eWallets” </em>which operate only within their own company ecosystem (think Starbucks!).</p><p><strong>How many eWallets are there in Malaysia now?</strong></p><p>As of April 2020, there are 43 non-bank e-money issuers in Malaysia. Among these, <a href="https://blog.ewhallet.com/top-ewallets-in-malaysia/">GrabPay, Boost and Touch ‘n Go eWallet are among the most popular</a> and enjoy a fair chunk of the market.</p><p>You could say it’s a hot and fiery landscape for sure. Most recently in December 2019, we saw Digi’s eWallet vcash throw in the towel.&nbsp;</p><p><em>“How do eWallets work in Malaysia?” </em>is the first addition in our eWallet 101 for Malaysians series. We’ve only just scratched the surface on this topic – keep up with us on<a href="https://blog.ewhallet.com/ewallet-101-malaysia" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> our blog here</a>!</p>

Imagine this. For every purchase you make, you get to accumulate reward points and cashback. That goes for every part… 

How do eWallets work in Malaysia?

<p>On March 27 2020, Prime Minister Tan Sri Muhyiddin Yassin unveiled the PRIHATIN Rakyat Economic Stimulus Package worth RM250 billion – a comprehensive initiative set to benefit everyone.</p><p>Earlier before, interim Prime Minister Tun Dr Mahathir Mohamad had also unveiled an emergency economic stimulus package to counter the economic impact of Covid-19.</p><p><em>What should e-wallet users know about these initiatives? Do we fit into the picture?</em></p><h2>What is the PRIHATIN Rakyat Economic Stimulus Package?</h2><p>An economic stimulus is typically a set of government policies and initiatives to help boost the economy during a downturn or recession.&nbsp;</p><p>With the recently announced package, funds were allocated to:</p><ul><li><strong>&nbsp;protect the welfare of the people</strong></li><li><strong>&nbsp;support small businesses and SMEs</strong></li><li><strong>&nbsp;support the healthcare front in combating Covid-19</strong></li></ul><p>The previous RM20 billion economic stimulus package announced in February just as Covid-19 began its toll on the country was mainly targeted towards emergency mitigation of the impact of Covid-19, spurring rakyat-centric economic growth and promoting quality investments.</p><h2>e-Tunai benefits for BSH recipients</h2><p>The Malaysian government – like most countries worldwide – is gearing up for the move towards a cashless society.</p><p>We saw this in the e-Tunai Rakyat program, where eligible e-wallet users were given RM30 each to encourage adoption of digital payments.&nbsp;</p><p>We continue to see cashless initiatives even during times of crisis with the RM20 Billion Economic Stimulus Package announced in February, where<strong> digital payments of RM50 will be paid out to eligible Bantuan Sara Hidup (BSH) applicants as e-Tunai.</strong></p><p>This is stated under Measure 20 in the<a href="https://www.treasury.gov.my/pdf/pre2020/Booklet_2020_Economic_Stimulus_Package.pdf?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> stimulus package booklet</a> under “Bantuan Sara Hidup (BSH) Enhancements”.</p><p>These enhancements include:</p><ol><li>Initially scheduled to be paid out in May 2020, the BSH payments of RM200 will be brought forward to March 2020<em> (payout of these payments have since kicked off beginning 16th March 2020).</em></li><li>Additional one-off cash payment of RM100 for all BSH recipients in May 2020</li><li>An additional RM50 to be given through e-Tunai</li></ol><p>Hence, this e-Tunai initiative is only eligible for BSH applicants who have successfully registered for payout.&nbsp;</p><p>If you’re not in the know, Bantuan Sara Hidup (BSH) or Cost of Living Aid 2020 is a programme to provide financial assistance to the B40 group specifically. You may also know it by its previous name – BR1M.&nbsp;</p><p>For more info on this programme, visit the official site<a href="https://bsh.hasil.gov.my/?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> here</a>.</p><h2>How BSH recipients can make full use of their RM250</h2><p class="has-text-color has-vivid-red-color"><strong>Application deadline for BSH has ended on the 15th of March 2020</strong>. </p><p>Despite this, successful BSH applicants can still stretch out their RM250 to reap even <em>more</em> value from it.&nbsp;</p><p>Simply follow the steps below or check out the infographic!&nbsp;</p><p><strong>Step 1: Make sure you claim your RM50 e-Tunai. </strong>If you’re a successful BSH recipient, be sure to have an e-wallet account with either <em>Touch ‘N’ Go eWallet, Boost </em>or <em>GrabPay</em> in order to be able to receive the RM50 e-Tunai.</p><p>If you haven’t downloaded any of these e-wallets, <a href="https://ewhallet.com/?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">click here to compare e-wallets</a> and choose which is best for you!&nbsp;</p><p><strong>Step 2: Check if you’ve received your RM200 payout. </strong>This will be credited into your bank account. You can check the status via <a href="https://bsh.hasil.gov.my/SemakanStatus.aspx?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic">MyBSH online</a>.</p><p><strong>Step 3: Top up the RM200 into your e-wallet.</strong> Congratulations! You’ve received the RM200 payout. Instead of keeping it held up in your bank account – transfer it into your e-wallet for extra value.&nbsp;</p><p><strong>Step 4: Enjoy your extra RM250! </strong>The next time you make a payment, use the funds in your e-wallet instead. </p><h2>Received your benefits? Upload them into your favorite e-wallet!</h2><p>The most recent PRIHATIN Rakyat Economic Stimulus Package may not include any cashless incentives – here at eWhallet however, you can expect nothing short of e-wallet tips and tricks to help you make the most out of your Ringgit!</p><p>From the M40 group to students to e-hailing drivers, most aspects of the rakyat stand to gain from the recent announcement.&nbsp;</p><p>Whichever category you may fall under, once you receive your benefits, the best way to reap <em>even more </em>value is by uploading your benefits into your e-wallet of choice.</p><p>That way, you can reap rewards, points, cashback or even enjoy special promotions you wouldn’t have been eligible for if you had used cash instead.</p><p>And if you’re not sure what you’re eligible for, make sure to check out the<a href="http://nst.com.my/news/nation/2020/03/578956/pms-full-speech-prihatin-economic-stimulus-package?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> full speech here</a>. Some examples of the benefits announced for individuals include:</p><ul><li>Single individuals aged 21 and above earning less than RM2,000 a month will receive RM800<em> <strong>(payment of RM500 will be made in April 2020 and the remaining RM300 in May 2020)</strong></em></li></ul><ul><li>Single individuals aged 21 and above earning between RM2,000 and RM4,000 a month will receive RM500 <em><strong>(payment of RM250 will be made in April 2020 while the balance in May 2020)</strong></em></li></ul><ul><li>Students at institutions of higher learning will receive RM200 <em><strong>(payment disbursed May 2020)</strong></em></li></ul><ul><li>Civil servants of grade 56 and below will receive RM500<em> <strong>(payment disbursed April 2020)</strong></em></li></ul><h2>Ongoing e-wallet reload promotions</h2><p>You could top up your benefits into your e-wallet for extra points and rewards, but you could also go one step further. Make use of ongoing promotions specifically for e-wallet users who top up funds into their account!</p><p>To see what e-wallet top up promotions are currently available to you, visit our <a href="https://beta.ewhallet.com/?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">comparison site here</a> and filter the search for <strong>“Bank Card Promo”</strong>.</p><p>Current e-wallet reload promotions at the time of writing include:</p><p></p><figure class="wp-block-table is-style-regular"><table class="has-fixed-layout"><thead><tr><th><div>E-wallet top up promotion</div></th><th><div>Details</div></th><th class="has-text-align-center" data-align="center"><div>Expiry date</div></th></tr></thead><tbody><tr><td><div><a href="https://www.grab.com/my/pay-deals/bank-card-promo/pay-with-cimb-cards-campaign/?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">GrabPay x CIMB Lucky Draw</a></div></td><td><div>Stand a chance to win up to RM3,000 when you top up with CIMB</div></td><td class="has-text-align-center" data-align="center"><div><strong>30/04/2020</strong></div></td></tr><tr><td><div><a href="https://www.tngdigital.com.my/hsbc-20-cashback?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label="Touch'n Go eWallet x HSBC Cashback (opens in a new tab)">Touch’n Go eWallet x HSBC Cashback</a></div></td><td><div>Enjoy 20% cashback when you reload with HSBC credit/debit card</div></td><td class="has-text-align-center" data-align="center"><div><strong>30/04/2020</strong></div></td></tr><tr><td><div><a href="https://support.myboost.com.my/hc/en-us/articles/900000223586-Boost-x-Standard-Chartered-Campaign?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label="Boost x Standard Chartered Cashback (opens in a new tab)">Boost x Standard Chartered Cashback</a></div></td><td><div>Top up with Standard Chartered Credit Card and Get RM10 Cashback</div></td><td class="has-text-align-center" data-align="center"><div><strong>14/05/2020</strong></div></td></tr></tbody></table></figure><p></p><p>For even <em>more </em>value, use your e-wallet funds for special promotions. Use our site here to <a href="https://beta.ewhallet.com/?utm_source=blog.ewhallet.com&amp;utm_medium=blog&amp;utm_campaign=PRIHATIN_Rakyat_Economic" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">browse for other ongoing e-wallet deals</a>!</p>

On March 27 2020, Prime Minister Tan Sri Muhyiddin Yassin unveiled the PRIHATIN Rakyat Economic Stimulus Package worth RM250 billion… 

RM250 Billion Economic Stimulus Package Malaysia – What eWallet Users Should Know?

<p>Boost e-wallet is generously giving away FREE life insurance with special Covid-19 coverage! For Malaysians whose life insurance may not provide coverage for pandemic-related losses, or worse – <em>are not insured</em> – this is your opportunity to get insured for free.&nbsp;</p><p>Here’s all you need to know. </p><h2>What is it?</h2><p>In light of the recent Covid-19 outbreak, Boost together with Prudential Assurance Malaysia Berhad have come together to offer free life insurance with special Covid-19 coverage.</p><p>This insurance is limited to the first 200,000 successful applicants only. Applications are accepted for a limited time only until the<strong> 15th of April</strong>, while insurance coverage extends till<strong> 30th April. </strong></p><h2>Benefits</h2><ol><li><strong>RM5,000 payout upon Covid-19 diagnosis</strong></li></ol><p>RM5,000 will be paid in lump sum to patients diagnosed with Novel Coronavirus (COVID-19) by any of the hospitals identified by the Ministry of Health Malaysia.</p><ol start="2"><li><strong>RM1,000 payout to family upon death</strong></li></ol><p>Your coverage period starts from the day of successful enrollment confirmation by Boost until 30 April 2020. Death during this coverage period for any reason except suicide will receive a death benefit of RM1,000.</p><h2>Eligibility requirements</h2><p>Aside from being free of charge, what differentiates this life insurance from other insurance plans is that Malaysians with <em>pre-existing medical conditions</em> are eligible as well!</p><p>Eligibility requirements for this insurance plan include:</p><ul><li>Malaysian</li><li>Aged 18 – 55 years old</li><li>Verified user of Boost Premium e-wallet.</li></ul><p>According to Boost, existing customers of Prudential Assurance Malaysia Berhad and Prudential BSN Takaful Berhad Customers are not eligible as they are already covered for this special Covid-19 coverage under their current policy. If you are an existing customer but are not aware of this, please contact your respective agent or the Prudential careline.</p><h2>How to apply</h2><p></p><figure class="wp-block-image size-large"><div class="se-component se-image-container __se__float-none" contenteditable="false"><figure class="wp-block-image size-large" style="margin: 0px;"><img src="data:image/gif;base64,R0lGODdhAQABAPAAAP///wAAACwAAAAAAQABAEACAkQBADs=" data-lazy-src="https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1024x576.png" alt="how to apply for boost covid-19 coverage" class="wp-image-1132" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1024x576.png 1024w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-300x169.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-768x432.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1536x864.png 1536w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-2048x1152.png 2048w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-600x338.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-780x439.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1200x675.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1920x1080.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" data-proportion="true" data-align="none" data-file-name="wAAACwAAAAAAQABAEACAkQBADs=" data-file-size="0" data-origin="," data-size="," data-rotate="" data-rotatex="" data-rotatey="" data-percentage="auto,auto" style="" data-index="0"><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1024x576.png" alt="how to apply for boost covid-19 coverage" class="wp-image-1132" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1024x576.png 1024w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-300x169.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-768x432.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1536x864.png 1536w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-2048x1152.png 2048w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-600x338.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-780x439.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1200x675.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1920x1080.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure></div><noscript><img src="https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1024x576.png" alt="how to apply for boost covid-19 coverage" class="wp-image-1132" srcset="https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1024x576.png 1024w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-300x169.png 300w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-768x432.png 768w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1536x864.png 1536w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-2048x1152.png 2048w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-600x338.png 600w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-780x439.png 780w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1200x675.png 1200w, https://blog.ewhallet.com/wp-content/uploads/2020/03/BOOSTPRUDAPPLY_rev-01-1920x1080.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure><p></p><p><strong>Step 1: Make sure your Boost e-wallet is upgraded to the Premium version.</strong> Don’t worry, there are no charges involved. To do this, go to the profile screen and click on <em>“Upgrade to Premium wallet for free”</em></p><p><strong>Step 2: Verify your identification details. </strong>Following Bank Negara’s regulations, you will be required to send in a front and back picture of your NRIC or passport data page as well as a clear selfie for verification purposes.</p><p><strong>Step 3: Tap on “Covid-19 Coverage” on the Boost homepage. </strong>After your verification has been successfully processed (usually within one working day), you will need to provide your bank details in order to link your Boost Premium e-wallet. Once that’s done, simply click on<strong> “Covid-19 coverage”</strong>.&nbsp;</p><p>You can also click on the <strong>“Boost Cares For You”</strong> tile under <strong>“More For You”.&nbsp;</strong></p><p><strong>Step 4: Wait for confirmation by Boost. </strong>According to Boost, applicants will receive confirmation of their application status within three (3) working days from the date of application. This insurance plan is limited to the first 200,000 successful enrollments.</p><p class="has-text-color has-vivid-red-color"><em>*deadline for application is 15 April 2020</em></p><h2>FAQ</h2><p><strong>How do I submit a claim?</strong></p><p>Download the claims form <a href="https://www.prudential.com.my/en/our-services/make-a-claim/claims-forms/" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)">here</a>, and submit it along with all relevant investigation reports and medical reports completed by a treating doctor to any Prudential branch. Patients diagnosed with Covid-19 must submit their claims within three (3) months from the diagnosed date.</p><p><strong>How long will it take to process my claim?</strong></p><p>Once all the required documents have been submitted, it will usually take two weeks for your claim to be processed.</p><p><strong>Can I apply for my family members as well?</strong></p><p>Each Boost user is limited to one application only. If your family members are all Boost e-wallet users, they may each apply separately.</p><p>You deserve the peace of mind.<a href="http://bit.ly/getcovid19coverage" target="_blank" rel="noreferrer noopener" aria-label=" (opens in a new tab)"> Click here to apply now!</a></p>

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