The nation held with baited breath as Finance Minister Lim Guan Eng took the stage today to deliver Budget 2020 in Parliament today. Among the key highlights of next years budget is an initiative to boost Malaysian’s adoption of eWallets and what better way to do that than to do that than to give out free cash, right? And that’s just what the government is doing.

All Malaysians aged 18 and above are set to receive a one-off payment of RM30 via their eWallet. All you have to do to be eligible for free money is of course, have a verified eWallet account from one of the selected providers, which have yet to be announced. You will be able to start redeeming this stimulus starting the 1st of January 2020 all the way till the 29th of February 2020.

Of course, all this is in hopes that the transformation towards digital payments is hastened and goes about in a manner that’s as smooth as possible. Khazanah Nasional has been allocated a total of RM450 million in order to get this initiative up and running. Oh, to those of you who are above the age of 18 and happen to earn an annual income of more than RM100,000, you will unfortunately be unable to redeem this incentive. Fair enough I guess.

What do you guys think of this initiative? Do you think it will bring the results when it comes to eWallet adoption?