Yesterday (8th January), news of Bank Negara Malaysia approving Touch ‘n Go Sdn Bhd’s plans to offer mobile e-wallet services surfaced online.
In a statement released by the company, TNG Digital Sdn Bhd will reportedly be running the e-wallet service and will facilitate payments in a cashless and cardless environment, according to the Edge Markets. Well, here’s what you can expect from this upcoming service!
1. The e-wallet service will be using the Alipay platform
Source: White Bay Capital
According to Touch ‘n Go’s statement, this new e-wallet will be leveraging Ant Financial’s Alipay technology platform, which currently supports over 450 million users in China.
2. Malaysians can make easy cashless and cardless payments
Source: SCMP
An excerpt from Touch ‘n Go’s statement addressing the upcoming e-wallet system reads,
“The new mobile e-wallet will enable Malaysians to experience a secure, convenient and seamless payment ecosystem by using Quick Response (QR) codes to perform, among others, online shopping, bill payment, retail payments, as well as P2P fund transfers.”
Touch ‘n Go expects users who predominantly use tolls, public transport, and parking facilities to sign up for these new services once they’re available.
3. This feature is expected to be applicable nationwide
Source: Colonel’s Co-Ordination Hub
When this e-wallet feature was first announced last year, Touch ‘n Go Sdn Bhd chief executive officer Syahrunizam Samsudin was quoted as saying that this new platform will be used as a sales and purchase medium across Malaysia, reported The Star.
“Our vision is to introduce this cashless payment system deeper at the community level, not just at the city centre or shopping malls, but also at retail outlets close to the community. We will be launching this platform and we will see the reaction from the users by then,” the CEO stated.
So, that’s all the information Touch ‘n Go has for us regarding the new e-wallet services. Hopefully, they will release a much more detailed explanation as to what their services entail!
Also read: If You Ever Lose Your Touch ‘n Go Card, Here’s How You Can Recover Your Balance
