The government’s RM30 disbursement under the eTunai Rakyat program has the aim of increasing adoption rates of cashless payments, with the 3 eWallet providers chosen offering a variety of incentives and promos to entice new users onto their platforms. Grab, the top eWallet app of 2019 according to this report, has shared some numbers on their new users, as well as their current user base.
According to Ooi Huey Tyng, Managing Director of GrabPay, there has been an increase of 6x of new GrabPay users, which includes Grab users who have previously used cash on the all-in-one app.
20% of GrabPay users who received the RM30 disbursement have already made a transaction, and 70% of those users made the transaction at a GrabPay merchant.
As previously discussed, Grab’s incentives for the eTunai Rakyat campaign has 3 tiers to it: the first 10,000 get RM270 worth of RM5 (individual) vouchers, RM120 of vouchers for the 10,001–110,000th sign-ups, and 110,001 and above get up to RM30 in RM5 vouchers. All sign-ups get RM2,700 in “GrabPay exclusive promotions”, in addition to the RM30 incentive.
The first 10,000 sign-ups have already been redeemed, with Grab sharing that 1 in 3 of their daily active users already registering for the eTunai Rakyat disbursement with Grab.
Given that it has only been roughly 2 days since the eTunai Rakyat initiative kicked into action, Grab expects the numbers to increase in the coming days, with Ooi stating that that they are “very encouraged” at the present.
Meanwhile, if you’re still having trouble deciding on an eWallet for your eTunai disbursement, scroll down to the “related reading” section for a complete breakdown of the initiative.