KUALA LUMPUR: Setel has been appointed by the Ministry of Finance (MoF) as one of the e-wallet service providers for the eBeliaRahmah programme.
In a statement today, Setel said this was in support of the government's effort to ease financial burden and promote cashless payments among youths.
From June 26 to Aug 31, Malaysian youths aged 18 to 20 or full-time Malaysian students enrolled at Malaysia's higher education institutes (IPT) are eligible to claim the RM200 eBeliaRahmah one-off credit through the Setel app.
Chief executive officer Mazlin Erawati Ab Manan said Setel boasts an acceptance at more than 1.6 million retail stores nationwide and at Malaysia's largest fuel retail network of over 1,000 Petronas stations nationwide.
She added that eligible claimants who apply for eBeliaRahmah through the Setel app can shop at retail stores displaying Setel and DuitNow QR code, and at any Petronas station.
"Setel is honoured to support eBeliaRahmah programme, which is aligned with our purpose to foster a cashless society and promote safer and efficient financial transactions.
"Setel hopes to support the youths' financial well-being through our additional incentives and in turn contribute to drive economic growth for local businesses and support their transition towards cashless payments seamlessly," Mazlin said.
To be able to apply for the RM200 one-off credit from June 26, eligible youths will need to download or update to the latest version of the Setel app and complete the account verification through e-KYC.
The amount will be credited to the user's eBeliaRahmah wallet in the app upon successful application, and will be notified via a push notification and app inbox message.
The credit can be used for purchases at any retail store that accepts Setel and DuitNow QR code and Petronas stations nationwide.
The credit must be utilised by Aug 31 and is non-transferable to other e-wallet accounts.