Since the end of last year, there are multiple changes in each E-Wallet such as GrabPay, Boost & FavePay. Touch&Go has been expanding their user based but as for now, I am not using it as regularly in comparison to GrabPay, FavePay & Boost. If you read my previous posts on E-Wallet, my preferred E-Wallet is definitely FavePay due to AirAsia BIG Point but are they really an E-Wallet since the payment transaction is linked to Boost, Credit Card, Debit Card or your bank account.
The hack that I came up with last year is not applicable anymore due to some recent changes that the app has undergone. The first change that triggered many E-Wallet users in September last year was the adjustment of GrabPay point system. As a Platinum Member of GrabPay, I used to be able to collect 20 points for every RM1 spent but with their latest change, I can only get 3 points. That’s a huge drop.
I have also written on changes on Boost which I currently use the most since I am linking it to my FavePay. So it is either FavePay as my main preference followed by Boost & lastly GrabPay. The change of Boost cashback to point system may not be something that I prefer but I’m starting to get used to it. Fave has also made some updates recently and one of which that I find it to be quite disappointing is that I am only able to get 1 Big Point with every RM5 spend which previously I was able to get 1 BIG Point for every RM3 spend with FavePay or 1 BIG Point for every RM1 spend with FaveDeal.
By using E-Wallets like Boost & FavePay and linking it to BigPay & AirAsia Platinum Card, I am able to collect more than 45,000 BIG Points which is equivalent to 2 return trips from Penang to Ho Chi Minh. That is one of the perks of using E-Wallet but in Penang, so far, it is rare to see any hawker stalls that are accepting E-Wallet. That also means that my food expenses will increase if I fully eat in restaurant since most of my time out of the house is from 8am-10pm.
Recently I have noticed that electrical shops started to accept E-Wallets as well. My purchase of electronic items worth RM3500 enabled me to earn close to 10,000 Boost Coins but the problem is, I have to pay a few times as the max limit for E-Wallet is only RM1500 per transaction. With the hack that I use, I am able to earn 1166 BIG Points from AirAsia Platinum Card, 350 BIG Points from BigPay & close to 10,000 Boost Coins by paying with Boost. Hopefully AirAsia Card doesn’t change their BIG Points policy as that benefit is pretty good but with the price of RM350 annual fee per annum.
When those E-Wallet companies are competing to increase their market share, we as users are definitely benefiting from it but as they have more market share, they have started to reduce their benefits or reward points which is not good for us as users. On the positive side, we as users should adjust accordingly as E-Wallet is definitely a more convenient choice in comparison to cash payment. The perks are changing but it’s definitely better than nothing. Or I may need to start to explore other E-Wallet such as Touch&Go as their recent promotion is quite temping to attract new users.