App like boost gives cashback for every transaction we make, n this is on top of cc benefits that we can get

Do they pay merchants some % of total sales to partner with them, or the other way round, where merchants share some % of their sales with e-wallet company?

While other one like Grab Pay could leverage their food delivery services to get food merchants on board, but after all, is it sustainable with all the promos n cash back?

or they are all bleeding till a point that they are powerful to sell or make use of these huge pool of customer n transaction data they collect?

inb4 money laundering lettew

TS pls bank in 1m to my account, every month i gib u 1% cash back. ok?

parking to c comments.
there are too many many many many e wallets in malaysia.
kenapa so many ewallets in msia?

while i only know 1 ewallet in china - wechat pay...

Data is the new gold

The same way banks make money.

They depend on users keeping more money than they consistently use in the e-wallet.

Then they invest the money and a portion of the profits are given back to users in the form of discount & cashbacks.

keep your money without give u back interest
u said good biz or not?

they hold your money and rolling your money.. I can't withdraw my money they said my data is missmatch..actually they yang approved my premium boost then said missmatch..now stuck 1.3k inside cannot withdraw

collect customer base
then sell as a whole to big company like fesbuk or whatever

1. intraday interest
2. transaction charges

dont think there is revenue from ads at the moment

u use their apps..

thy collect ur data..

maybe sell it to other companies or use as ads = profit

seems legit

dont think they are making money through data cross selling. if there is also, the fraction will be very small...

None of the E-wallet in Malaysia is making money, at least at this moment

They just bleeding the money they get from investor

This post has been edited by RichardN: May 9 2019, 05:08 PM

alipay

Cuz many many want to replicate or becoming the main e-wallet or dominate the Malaysian market like wechat does in china

U answered your own question.

Same like WhatsApp. Facebook. How they earn?

I paid one of my car insurance using one of the ewallet service last year

dunno why suddenly this week so many agents call me to renew with them

suspect my data leaked by some company along the way

I knew it since I used one of my non official contact number as contact number for the insurance

Transaction fee from their vendors
Customer's money kept with them are getting interest from bank

There are many ways as well they can make money.

Loans to SME (since they have aggregated user data)
Data analysis for market research (share of wallet, for example once you have 1M users, you know roughly marketshare of Petronas vs Shell vs Petron, etc)

And many more.

you need to load money into wallet.

They just bleeding money to lock you into their ecosystem... once they have sizeable userbase, all the cashback, etc will be lowered. Look at Lazada now. Before this, they used to give a lot of vouchers/promo. But now barely any promo left.

They dont make money now. relying on funding and investment with projected value. then increase company value, go IPO. consumers like to things that startup make money from them.. they dont. users are not customers but commodities

one day suddenly announce system got hacked

like amazon did in US.

Funny thing is in the individual setting, it benefits both the user and the wallet. That is until we all decide to empty our pockets at once kot haha.

how e-Wallet / grabpay makes money ?
u top p e-Wallet, like thousands/millions others...
e-wallet have huge money sitting in their pool , until someone use them...
1. invest non moving money into somewhere. -> profit
2. keep balance in savings acct with higher return -> profit

how coupon/discount system make money ?
charge company for promotion based on their user reach. ->profit
get users to keep using their app for discount. increases user reach ->profit

in either case, they will give out user stats as marketing strategy to get more corporate to invest /market with them...

They make money when we pump money inside.

dont forget grab...
now they throw money in getting market for grabfood...
yet its fukin expensive...
RM5 per delivery...
McD used to do it for RM1 last time...

KFC learned fast and setup self collect app...

Guess because u need to reload your eWallet,
Money sitting there, they can do watever they please, Janji you buka app still see your $ inside.

Haha, felt a bit stupid reloading my Ewallets, average hving 200 inside each app.

I only reload when I want to buy something under promotion haha...

And only reload close to the exact amount I need.

This post has been edited by St0rmFury: May 9 2019, 05:45 PM

all those promotion / cash back / etc increase sales, from lazada last times or celcom boost now, increase sales by itself is the main business of all business.

When you use e-wallet, you must put in money first right? The first step you put in money to your wallet or shall I suppose to say you put money in their wallet, the company already profit. They keep your money and roll the money to get profit.

it's simple. you keep top up your wallet. 5 out of 10 users will be pengguna tegar. they use that money for FD, various investments etc

as for Grabpay.. they don't take anything from the merchant.

It is all about data and merchant fee too ..
Big data is very valuable to others and make soon be valuable than the petroleum

yeah same here. budget tesco / speedmart RM 90.. reload RM 100.. okla.. kasichan RM 10 extra

Grabpay auto top up RM 20 if balance below RM 10. still not bad tho... can use for grabcar.. pay for meals

It's the prepaid system that profit the company. You haven't use the prepaid credit but they already collected your money.

exactly! I dunno why some like to topup hundreds or thousands in the app, then when can't withdraw, then cry father cry mother...

if an item is rm21, i will topup 30, then got leftover for next time just topup enough to use...

Technology companies rarely shutdown gracefully. When they shutdown, everything they provide stops, and everything you keep with them is gone. Just a reminder.

I don't even know how much I have in MEPS Cash, and how to get it back. Probably costs about the same or more to get back the money. Like what I am experiencing with TnG, 11 MYR to retrieve 15 MYR.

This post has been edited by hwt: May 9 2019, 06:20 PM