MAE, Setel, ShopeePay, Touch ‘n Go eWallet to Disburse RM100 in eMADANI Programmeby Fintech News Malaysia November 29, 2023 0 comments
The Malaysian government has allocated RM1 billion to the eMADANI initiative, aimed at benefiting up to 10 million citizens including the B40 and M40 groups.
This programme, set to commence on 4 December 2023, and ending on 20 February 2024, will provide a one-time e-cash credit of RM100 to each eligible adult.
Participants can choose from four e-wallet service providers – Maybank’s MAE, Setel, ShopeePay, and Touch ‘n Go eWallet. Alongside the government’s contribution, these providers will offer additional incentives such as vouchers, cashback, discounts, or reward points.
The eMADANI credit and corresponding benefits from the participating e-wallet providers can be used until 29 February 2024. The credit is also applicable with retailers or merchants accepting DuitNow QR code payments through the participating e-wallets.
Announced by Prime Minister and Finance Minister YAB Dato’ Seri Anwar Ibrahim, the scheme is open to Malaysian citizens aged 21 and above, with an annual income of RM100,000 or less, or those who are recipients of the STR (Rahmah Cash Donation).
This initiative, a continuation of the eBeliaRahmah programme, targets three main objectives namely boosting the income of MSMEs, promoting cashless transactions, and directly benefiting the population.
The eMADANI programme is part of the government’s efforts to accelerate the digitalisation of the national economy and provide direct assistance to the people.
“Ahead of the end of the year and the school holiday season, the Government hopes that eMADANI’s contribution can to some extent ease the financial burden of the people while fostering a cashless payment culture.
The implementation of the eMADANI programme which starts next Monday is in line with the Government’s commitment to speed up the implementation of measures that support the digitalisation agenda of the national economy and help the people directly,”
added YAB Dato’ Seri Anwar.