During the tabling of 'Budget 2020' on 11 October, Finance Minister Lim Guan Eng made the announcement that the government will give a one-time stimulus to drive the adoption of cashless payments
The one-time RM30 stimulus will be given to qualified Malaysians aged 18 and above with an annual income below RM100,000. It can be redeemed and used for a two-month period, beginning on 1 January 2020 and expiring on 29 February 2020.
As Malaysia's fastest growing eWallet, Boost welcomes the announcement. The incentive is tipped to encourage more people to register with selected eWallet providers, moving Malaysia towards becoming a cashless nation.
But what does it mean to be a cashless nation? Let's take a closer look at the popular eWallet, Boost, to break down the benefits:
1. All the stress that surrounds withdrawing cash from ATMs will actually no longer exist
This has to be one of the most obvious benefits of using an eWallet like Boost. You will always have money, without having to withdraw cash.
Whether it's circling the block to look for parking close to your bank, lining up behind dozens of people at the ATM, having to deal with the machine being out of service or running out of cash to dispense, you don't have to worry about the struggles of withdrawing cash from ATMs anymore.
2. Ever reached the register to pay for something only to realise you don't have enough cash? That won't be a problem anymore.
We've all had moments when we either made a mad dash to the closest ATM or had to borrow cash from a friend.
With Boost, all you have to do is open the app and scan the code at the register to make payment. It's really that easy.
3. You can also pay for parking and extend your parking through eWallets, so you won't kena saman again
The parking metre not working? Don't have enough coins? You're in the middle of a meal and your parking time runs out? Street parking is a pain in the butt.
Boost has honestly revolutionised parking by enabling you to pay through the app, no coins, metres, or printing necessary. Top up from your parking from wherever you are, and it will automatically update in the system, ensuring your car is saman-free.
4. Pay your bills on the spot at your convenience
No more lining up at the cash deposit or going directly to the provider's store to pay your bills.
You can add all your utilities to your Boost app and get the job done without fuss, in just a few taps.
5. Book your GSC movie tickets and get 50% cashback
Yet another perk of using Boost is getting 50% cashback on GSC movie tickets. It's so convenient because your bank account is already linked so you don't need to create a new account or sign in anywhere else.
6. For small local businesses, they can easily adopt eWallets instead of investing in expensive systems
With eWallets like Boost, even the humble kedai runcit can upgrade their payment systems to stay on par with the big guys.
7. You can even use cashless payments at the pasar malam
It's so convenient for both vendors and shoppers. The hassle of not having small change will be gone, especially when you're spending just a few ringgit at each stall.
8. It's so much safer all round because we won't have to carry large amounts of cash
With everything on your phone, you don't have to worry about carrying cash.
For business owners, closing up at the end of the day becomes easy and efficient. It's also so much safer as they won't have to carry cash to the bank every day.
With Boost available at over 113,000 merchants nationwide, we're definitely on our way to being a cashless nation
To date, Boost covers Kuala Lumpur, Johor Bahru, Kota Kinabalu, Kuching, Ipoh, Melaka, and Penang, with plans to continue expanding.
The eWallet enables both small and large business owners to adopt new technologies easily. From setting up a QR payment system and using POS solutions, to tracking their business with analytics suites, Boost is empowering local entrepreneurs.
And of course there are always loads of Boost benefits and promotions for both customers and merchants to enjoy!
Download the Boost App today to start enjoying all the benefits of going cashless, and stay tuned for the one-time stimulus coming early in 2020!