KUALA LUMPUR: The eBelia programme initiative that was launched by Prime Minister Tan Sri Muhyiddin Yassin today represents a significant step towards building a digital finance-driven culture, which is capable of serving the burgeoning transactional and financial needs of Malaysians.

Malaysia Youth Council (MYC) president Jufitri Joha said the digitalisation method was more efficient and safe because users could perform transactions anytime, anywhere.

In addition, the COVID-19 pandemic has played the role of a game-changer, encouraging cashless transactions that require Malaysians to use digital applications more compared to physical transactions to avoid the risk of infection.

"Through the eBelia programme, students of institutions of higher learning will at least be able to use the RM150 allocation given to purchase necessities like books and learning supplies," he told Bernama.

The eBelia programme has been improved under the PEMERKASA Plus programme with an increase in credit from RM100 to RM150 for each recipient, and will be matched by e-wallet providers through various additional initiatives, including vouchers, cashback and reward points.

During the programme's online launch, the prime minister said that with an allocation of RM300 million, eBelia would benefit two million Malaysians, aged 18 to 20, and full time university students.

The duration for redeeming the credit is from June 1 to 22, 2021 and the credit can be spent till July 31, 2021.

The eBelia programme is also expected to encourage businesses, including micro-enterprises, small and medium industries, to accept cashless payments.

Jufitri also suggested that cashless payments be expanded to rural areas as youths everywhere are use it in their daily lives.

He said businesses need to encourage cashless payments as it is able to help expand their business, and attract customers who gravitate towards digital concepts.

Meanwhile, Yasmin Hani Nor Azmir, 18, who obtained her RM150 credit through e-wallet provider ShopeePay today expressed her gratitude to the government for its concern towards the needs of Malaysian youths.

"Although I still stay with my family, at least I can use it to buy some personal items without asking for pocket money from my parents," she said, adding that she plans to use the windfall to buy face masks and reading materials.

Food operator, Muhammad Asraf Mahmud Mahayudin, 34, meanwhile said that cashless payments were faster and easier as each customer transaction is recorded online.

"With online payments, the booking process is much easier as the customer transaction is done immediately, and orders can be completed faster and sent directly to them," he shared.

-- BERNAMA