1 million teens claim eBelia credit through ShopeePay

CLOSE Up to a million young people have successfully applied for their eBelia credit via ShopeePay. As of June 7th, the program has managed to generate sales equal to 120% of the total amount paid out by the Ministry of Finance (MOF) via ShopeePay. In addition, around 140,000 sellers and merchants who accept ShopeePay have already benefited from the eBelia program.

Alain Yee, Head of ShopeePay Malaysia said: “As one of the newest mobile wallets to enter a crowded space, it is indeed humbling to receive the resounding support from eligible eBelia participants. Compared to MOF’s announcement, the majority of the 1.7 million successful applicants have opted for ShopeePay. This is possibly because our e-wallet can be used both online and offline nationwide with a reach as far and wide as Semporna, Sabah; Miri, Sarawak; Kemaman and Gong Badak in Terengganu and Bachok, Kelantan.”

Yee added that based on preliminary data from June 1-7, user behavior among eBelia recipients suggests the program has driven adoption of e-wallets and is likely to result in long-term usage.

“Of the overall successful eBelia applicants through our mobile wallet, about 40% are new ShopeePay users who have activated their e-wallet just for eBelia. Furthermore, we are confident that the customer retention rate will be high among these new users as over 20% have already topped up their e-wallet at least once within the first week of using ShopeePay,” he explained.

Regarding recipient spending, Yee shared that many used eBelia credit for very practical purchases, including daily necessities, groceries and beverages, books, and household and living items. A closer look at the spending behavior of these eBelia youth over the past week reveals the following (observations are based on the top 100 merchants using transactions recorded offline, online (merchant webshops and apps) and on Shopee.