MBI, Wavpay Sign Agreement To Develop E-Wallet "Super App" For Selangor

Alex Cheong Pui Yin

16th February 2022 - 2 min read

Selangor’s strategic investment arm, Menteri Besar Selangor Inc (MBI Selangor) has entered into an investment agreement with Wavpay Fintech Holdings, aimed at developing the cashless payment and e-services agenda within the state.

The agreement will see WavPay working with Selangor E-Wallet Sdn Bhd – a subsidiary of MBI Selangor – to introduce an e-wallet service that will connect the state’s various financial initiatives and e-services. It is expected to be launched with an announcement of its name within three months, and a wallet size of RM10,000.

“The e-wallet super app Selangor will bring together all business services of the Selangor government, local authorities, statutory bodies, and state subsidiaries that have been regulated by Citizen E-Payment operated Smart Selangor Delivery Unit. This includes social welfare contributed to the people and creating an online marketplace to digitise small and medium enterprise (SME) and micro-SME businesses in Selangor,” said the Selangor executive councillor for trade and industry, Dato’ Teng Chang Khim, who is also the chairman of Selangor E-Wallet Sdn Bhd.

In particular, Dato’ Teng emphasised that the platform will benefit Selangor citizens who are entitled to assistances from the state government as it will expedite the distribution of the aids. These include recipients of Penyayang Iltizam Selangor programmes, such as Bingkas, Iltizam Selangor Sihat, and Skim Mesra Usia Emas.

“Activities including tax payments to local authorities, and cashless parking payments can also be done through this platform,” Dato’ Teng further said, adding that the initiative will boost the efficiency of services between the government, the people, and SMEs.

Additionally, Dato’ Teng stated that this cooperation is in line with the wishes of Selangor’s chief minister, Dato’ Seri Amirudin Shari to develop a cashless community in the state. Dato’ Seri Amirudin had previously already announced that Selangor will launch its own e-wallet service that will feature all state initiatives.

(Sources: Selangor Journal, The Malaysian Reserve)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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