A TOTAL of RM18.8million has been spent by Malaysians under the e-tunai rakyat initiative as of 10pm yesterday, said Finance Minister Lim Guan Eng.

The Initiative, which entered the second day yesterday, received 784,000 applications of which 672,000 were approved.

“The response is encouraging,” said Lim at a press conference in Putrajaya.

He also reiterated that applicants’ data of are protected by Putrajaya, adding that the government is not a commercial entity.

On the first day, 320,000 Malaysians spent more than RM10 million via the three appointed cashless platforms – Boost, Grab and Touch ’n Go eWallet.

Putrajaya allocated RM450 million for the initiative announced under Budget 2020.

The RM30 per individual is aimed at encouraging spending through cashless channels and likely to pump some RM1 billion into the economy.

The three e-wallet service providers will also provide incentives in addition to the RM30 “shopping money” provided by the government.

The initiative is set to benefit 15 million Malaysians aged 18 and above and with an annual income of less than RM100,000. It ends on March 14. – January 17, 2020.