Have you heard about or used e-wallets?
Itâ€™s a trend which we are going toward nowadays as Malaysia pushes towards being a cashless society.
E-wallets are apps that essentially work like a regular wallet; a place to keep your money before using it to pay for goods and services.
Even the government is encouraging more of us to use it as the recent Budget allocated a one-time incentive of RM30 to qualified Malaysians aged 18 and above with an annual income of less than RM100,000.
So why the push to e-wallets?
How many times have you been in a situation where you ran out of money and needed to queue up at the ATM? For us, itâ€™s more than a few.
With e-wallets thereâ€™s a way to skip that and just pay for the items you want. All you have to do is put money in the app and use that to pay for your stuff at participating merchants.
In a growing number of locations, you can also pay for parking, so thereâ€™s no need to run back and forth to top up the meter or scratch the coupon.
Easier to pay bills and top up your phone
Paying bills can be a hassle where you have to go to different places or even jump on different websites to get it done, but with e-wallets, you donâ€™t have to because everything can be done within the app itself.
Whether itâ€™s your water or electric bills, or if you just want to top up the credit on your mobile phone, itâ€™s possible with the e-wallet app.
If youâ€™re feeling charitable
Did you know that you can also use e-wallets to make donations to many organisations and charities, whether itâ€™s the National Cancer Council Malaysia, The Red Cross, even your local place of worship?
The e-wallet allows for this as you can quickly transfer funds directly to your charity or organisation of choice.
Promos, promos, promos
By using e-wallets, not only can you spend without using your credit card and cash, but thereâ€™s often many promos in store for you the more you use the app.
But what if youâ€™re a merchant, what kind of advantages are there for you?
It wonâ€™t break the bank
Well, if youâ€™re someone who owns a shop and youâ€™re selling goods to your customers, often times you have to invest in something like a point of sale (POS) system which can cost a bomb.
But you still need to keep track of the money coming in, so what do you do?
Luckily e-wallets are significantly cheaper – almost zero cost – as they can accept payments through smartphones compared to credit card terminals where businesses will need to absorb high merchant discount rate (MDR) charges.
Be seen by a lot of users
Sometimes it can be a bit difficult for you to advertise your store and going through traditional means like ads are often costly, but an ewallet app can highlight your store once youâ€™ve signed up.
This makes it easier for users to spot, and shop at your store, making it easier for you to sell your stuff.
If youâ€™re interested in riding the e-wallet wave now is a good time to check out Boost!
Itâ€™s one of the largest e-wallet apps which has the widest coverage with 113,000 merchants and they also provide all these services plus more!
Also if you register and verify now, you will stand a chance to win the iPhone 11 Pro weekly!
On top of that Boost is also running a 100% cashback campaign on reloads where two iPhone Pros are up for grabs every week whenever you use it to pay your bills!
Now is the best time for you to jump on the cashless revolution.
Unkempt in both stories and appearance, Hakim loves tech but tech left him on read, previously he used to write about tall buildings and unoccupied spaces that he canâ€™t afford, and legend has it that he still canâ€™t afford it to this day