KUALA LUMPUR: Homegrown lifestyle e-wallet Boost aims to increase its users to 10 million by year-end from 5.1 million currently, propelled by the increased e-wallet adoption among Malaysians as well as the government’s ongoing e-Tunai Rakyat initiative.
CEO Mohd Khairil Abdullah said the company also aspired to rope in 300,000 merchants by end-2020, up from the existing 135,000.
“We are hoping to double or triple the existing merchants. This means that everywhere you go, there would be an opportunity to use Boost,” he told reporters at the e-Tunai Rakyat Gets A Boost event here today.
Mohd Khairil said two-thirds of its merchants were tier three and four merchants comprising food stalls and hawkers, while the tier one and two were represented by big chain food outlets such as Kentucky Fried Chicken and The Chicken Rice Shop.
“Those are the tiers (three and four) that we need to digitalise because they haven’t been caught up by the digital wave and we have to help them digitise,” he said.
He said Boost’s active users used an average of RM350 a week, and since the introduction of the e-Tunai Rakyat initiative, more merchants had applied to be merchant partners.
“It (e-Tunai Rakyat) helps make merchant partners accept e-wallet in their establishments,” he said.
Mohd Khairil said users should also look out for numerous offers on in-app purchases, bill payments, movie tickets or even prepaid top-ups, among others, which offer savings of up to RM1,888.
Alternatively, users can also choose to purchase attractive bundled deals from partners within the Boost app where they stand to save up to RM150.
Boost will also be rewarding users who bring their friends and family on board the cashless revolution.
With a unique referral code, users can earn an additional RM18 in cash rewards for every five people they refer to Boost.
Each referral is worth RM3, and a user can earn RM6 for every 5th referral. There is no limit to how many times a user can claim the referral cash reward.
To usher in the Chinese New Year celebrations, users can also participate in the Boost Ang Pow Challenge.
Once the users have submitted their RM30 e-Tunai Rakyat claim, they will automatically receive two Ang Pows in the Boost app with a value of up to RM10 each.
Meanwhile, another Malaysian e-wallet, Touch ’n Go eWallet, will double the RM30 claim, gifting a total of RM60 to its users.
All successful claimants will receive this additional RM30 cashback when they pay with Touch ’n Go eWallet at any of its 120,000 merchant acceptance points.
In addition, all users can reap double the cashback and enjoy greater savings thanks to the concurrent Touch ’n Go eWallet campaigns especially the latest ‘Big 2 Million Weekly Draw’ where users stand to win RM2 million worth of prizes every week, including eight Proton X70, 80 Yamaha Ego Solariz, 80 Huawei P30 (256GB) and 400 Vivo V15 smartphones.
The e-Tunai Rakyat initiative has a total allocation of RM450 mil from the government and is expected to benefit 15 million Malaysians above the age of 18 and earning an annual income of less than RM100,000. – Jan 16, 2020 Bernama