Saving with e-wallets

E-wallets helps to save while giving you convenience

By Adrian Ng

Sam, a restaurant owner where I sometimes dine in asked: “Why don’t you pay using Boost instead?” I gave a surprised look. Boost is an e-wallet service developed by Axiata Digital Services Sdn Bhd. I replied to Sam that I prefer to use another e-wallet, which also helps me pay for my highway tolls. 

Sam simply replied: “Last week, a customer who came in for lunch. She ate with her friend and the meal cost her RM18. She decided to pay through Boost instead of cash. After paying, she shook her phone, and instantly received a cashback of RM18 from Boost! Basically, she and her friends ate for free that day!” 

I was stunned. Say what? RM18 rebate for a lunch meal? As one who look for ways to save money, I was immediately convinced. I downloaded the Boost app, uploaded RM20 for a start and began using it.

Since then, I too have have been enjoying cashback from Boost via its unique Boost Shake feature. Users need only to shake the phone after making a payment to receive cashback.

Sometimes I get a mere 10 sens and sometimes even 50 sens. The highest cashback I’ve received is RM1.50. In the past two months, I have received about close to RM15 as cashback in total.    

That RM15, may seem to be little. But it is good enough to buy me a free meal. I have nothing to lose. But a few ringgit to help me pay for my other expenses. I gain, not just the cashback, but also in terms of convenience when making a payment.

Convenience and security amplified

These days, I always ask merchants, whether I could pay via e-wallets. It doesn’t matter whether one uses Boost, Touch ‘N Go or the many other e-wallets available these days. E-wallets provide convenience and also a higher level of security to consumers. 

For one thing, since we all have a smartphone, downloading the e-wallet app is easy. Secondly, topping up the e-wallet is simple and convenient. It takes less than a minute to top up your e-wallet account. As a result, consumers need not carry cash when they go shopping. 

Thirdly, most e-wallets are secure and come with various check and balances. While frauds and scams can still occur, they can also be easily resolved. Fraud and scams still occur when paying cash or even when using credit cards.

Lastly, e-wallet also helps you to keep track of your expenses. You do not need to key in your expenses for each transactions as it is already captured by the e-wallet app. You can trace and keep your spending habits and help you in better budgeting.  

So what are you waiting for? Download any e-wallet out there and start saving! I’m confident that you will be hooked to using e-wallets. Anyone can earn money. But not everyone can save. It takes skill and discipline.

“If you wish to get rich, save what you get. A fool can earn money; but it takes a wise man to save and dispose of it to his own advantage.”  ― Brigham Young