Prime minister Muhyiddin Yassin today announced its new “Penjana” Economic Recovery Plan as part of the country’s six-stage strategy to weather the impact of the COVID-19 pandemic. Under Penjana, the government has identified three key drivers: Empower people, Propel businesses, and Stimulate the economy. Overall, 40 initiatives worth MYR35 billion have been allocated under Penjana, with a total of MYR10 billion direct fiscal injection by the government.
Amidst the brouhaha of Malaysia’s political affairs, interim prime minister Tun Dr Mahathir Mohamad announced the 2020 Economic Stimulus Package. Valued at MYR20 billion, the stimulus package is anchored on three pillars: mitigating the impact of COVID-19; spurring people-centric economic growth; and promoting quality investments.
“Touch ‘n Go, boleh?” I asked the cashier. “Boleh,” she replied as she pointed the payment terminal towards my phone screen that was plastered with a QR code. A beep confirmed the transaction and my purchase. This has become a norm for me—firing up an e-wallet app, in this case, the Touch ‘n Go eWallet app, clicking on “Pay” and making a purchase. I believe life can be simple, fast, easy; a two-click process.
In the near future, you’ll be able to drive to a Shell petrol station and refuel by using the TNG RFID tag installed on your car. Shell Malaysia, announced that it intends to sign a memorandum of understanding (MoU) with Touch ‘n Go to bring RFID refuelling to Malaysian consumers. Additionally, select Shell stations will offer 10,000 TNG RFID tags for free, available from 15 February until 31 March 2020.
If you encountered problems verifying your account and claiming the MYR30 credit from Touch ‘n Go eWallet earlier today, you’re not alone. Countless users have experienced and complained about network connection issues since earlier this morning as the e-Tunai Rakyat programme officially kicked off.
Today marks the kick-off of the e-Tunai Rakyat programme where qualified Malaysians will get a MYR30 credit to their favourite e-wallet accounts. The three leading e-wallet players Touch ‘n Go eWallet, Grab and Boost are incentivising users further with additional perks. For your benefit, here’s a comparison of the perks being offered by the respective e-wallet providers.
In recent years, Malaysia has seen a rapid rise in digital payments adoption, specifically in the mobile wallet or e-wallet space. Pervasive smartphone penetration, changes in consumer behaviour and a strong government push towards a cashless society have catalysed this growth. Consumers have shown the willingness to embrace new technology and payment methods—boosting e-commerce and spurring omnichannel businesses.