Homegrown lifestyle e-wallet, Boost aims to increase its users to 10 million by end of the year 2020 from 5.1 million users currently, propelled by the increased e-wallet adoption among Malaysians as well as the government’s ongoing e-Tunai Rakyat initiative. Chief executive officer, Mohd Khairil Abdullah said the company also aspired to rope in 300,000 merchants by end 2020 from the existing 135,000 merchants. “We are hoping to double or triple the existing 135,000 merchants as we’re looking to increase to at least 300,000 merchants. With this figure, it means that everywhere you go, there would be an opportunity to use Boost.” He added.
Mohd Khairil said two-thirds of its merchants were tier three and four merchants comprising food stalls and hawkers, while the tier one and two were represented by big chain food outlets such as Kentucky Fried Chicken (KFC) and The Chicken Rice Shop. Mohd Khairil said users should also look out for numerous offers on in-app purchases, bill payments, movie tickets or even prepaid top-ups, which offer savings of up to RM1,888.
Users can also choose to purchase attractive bundled deals from partners within the Boost app where they stand to save up to RM150. Boost will also be rewarding users who bring their friends and family on board the cashless revolution. To usher in the Chinese New Year celebrations, users can also participate in the Boost Ang Pow Challenge. Once the user has submitted their RM30 e-Tunai Rakyat claim, they will automatically receive two Ang Pows in the Boost app with a value of up to RM10 each. The e-Tunai Rakyat initiative has a total allocation of RM450 million from the government and is expected to benefit 15 million Malaysians above the age of 18 and earning an annual income of less than RM100,000.