The initiative will see the government channeling RM750 million into the hands of an estimated 15 million e-wallet users to help local businesses recover by encouraging them to shop for their wants and essentials.
The partnership comes as Grab aims to provide Malaysians a safe payment method that offers more value when users shop cashless for their household essentials such as groceries, pharmacies, food, electronics, and hardware across the nation.
Grab said it hoped users would see this initiative “beyond just a seasonal effort by both government and private sector to stimulate the economy, but in the long term, cultivate a stronger adoption of digital payments that would benefit businesses who had been impacted by the pandemic”.
Grab also encourages its users to embrace a fully digital lifestyle such as to use the MySejahtera app to help ease tracing their movement in this new normal.
“As with any form of payment method, safety and security are important hence Malaysians need to educate themselves on protecting their e-wallets. Therefore, we are committed to partnering with the Government and like-minded partners to build an educated and resilient Malaysia powered by a digital economy. In doing so, we want to continue to nurture inclusive financial literacy amongst Malaysians and ultimately bridge the financial gap,” Grab explained.
Separately, GrabPay rolled out the GrabPay card together with Mastercard last year, expanding its offline and online merchant ecosystem by allowing users, regardless of whether they have a bank account, to transact securely and easily.