Homegrown e-wallet Boost has been selected by the Government as an official e-wallet for the ePENJANA initiative, which will officially kick off on 31 July 2020 and will run until 30 September 2020. Qualified Malaysians can soon get their RM50 allocated for the programme transferred into their Boost e-wallets.
The RM50 e-PENJANA incentive is open to all Malaysians above 18 years of age with an annual income below RM100,000. It is part of the larger PENJANA National Economic Recovery Plan aimed at helping the local economy, and particularly smaller merchants, rebound and recover, as well as rebuild the lives of all Malaysians following the impact of the COVID-19 pandemic.
Following the announcement by the Ministry of Finance, Mohd Khairil Abdullah, CEO of Boost said that the homegrown e-wallet is humbled to be chosen once more as one of the Government’s trusted digital payment platforms and is looking forward to playing a significant role in the effort to rebuild the country’s economy, local businesses and the livelihoods of Malaysians to be more resilient in the wake of the health and economic crisis.
“We are proud to play our role in supporting Malaysia’s economic recovery. We believe that the ePENJANA e-wallet stimulus will give Malaysians more incentive to spur domestic spending at local businesses and, as a result, allow these enterprises to bounce back quickly. Additionally, ePENJANA will also drive e-wallet adoption that encourages safer, cleaner and contactless transactions. With Boost, Malaysians can transact at over 180,000 merchants nationwide with more than 60% of them comprising of small and micro-SMEs. As businesses open their doors once more, the ePENJANA stimulus plan will be crucial in jumpstarting the economy for many businesses impacted by the enforced closures that was a crucial step in our fight against the deadly virus.
“As a homegrown e-wallet engineered in Malaysia, by Malaysians, and purposefully built for Malaysians, we have a vested interest to ensure digital and financial inclusion for our country, especially the under-served, by providing equal opportunity and access to digital payments for everyone which will be a tool for economic empowerment.
“We also hope to share our industry expertise in other PENJANA initiatives such as stimulating online transactions under the Shop Malaysia Online campaign as well as empowering business recovery through the MSME E-commerce Campaign with a goal of encouraging Malaysians to actively participate in the digital economy. Together, we can build a stronger and more resilient Malaysia,” Khairil said.
In preparation for the launch of ePENJANA on 31 July, Boost is encouraging new and existing users, who have not done so previously, to perform the eKYC (Know Your Customer) account verification process early to be able to claim the RM50 e-wallet incentive with Boost. Undergoing the eKYC process will also upgrade users’ wallets from Basic to Premium, enabling users to benefit from the full range of functions and features Boost has to offer, including a larger wallet size of RM4,999.
Users can easily perform the eKYC verification process with these four simple steps
- Under the ‘Profile’ tab, click on ‘My Wallet’.
- Click ‘Upgrade’
- Follow the instructions by taking pictures of your IC and a selfie
- Click ‘Submit’ and wait for the success confirmation
Apart from performing the verification, users also need to install and register for the MySejahtera app to benefit from the RM50 Government incentive announced by the Prime Minister as well as numerous offers from Boost throughout the campaign period.