Bank Negara Malaysia (BNM) has given Touch ‘n Go (TnG) approval to operate and offer mobile e-wallet services in the country. The services – based on the Alipay payment system, which presently supports over 450 million users in China – will be offered via TNG Digital, a joint-venture concern with Alibaba Group affiliate Ant Financial Group.
This was revealed by CIMB Group Holdings in a filing to Bursa Malaysia, Bernama reports. Touch ‘ Go is owned by CIMB, MTD Equity and PLUS Expressways.
The new mobile e-wallet will enable Malaysians to experience a secure, convenient and seamless payment ecosystem, utilising Quick Response codes to perform online shopping, bill payment, retail payments as well as peer-to-peer fund transfers.
According to TnG CEO Syahrunizam Samsudin, the company says it is expecting its current users, who are predominantly toll, transit and parking users, to embrace the expanded services.
“Today, Touch ‘n Go is already the number one player in micropayments, and we see this offering as an add-on as we strengthen our value proposition, moving the country and our customers further into the realm of digital payments,” he said.
UPDATE: The Touch ‘n Go e-Wallet is now available in the iOS App Store and the Google Play Store.
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Keep it up Alibaba Chinas! Krikk3
Hundreds of Malaysians suddenly get their Touch and Go cards blacklisted. Suddenly cannot use.
Most of us too scared to go to KL Sentral Touch and Go office to sort this matter out because parking is RM5 per hour. Need at least 2 hours just to sort this matter out. Most of us cannot afford to pay high parking charges
So, hundreds of people daily kena blacklist. And we don’t bother to sort this blacklisted cards out.
Touch and Go makes millions from this. Even my card had RM50 on it and suddenly kena blacklisted for no apparent reason despite me using it for months. So, I just throw the card away. Toll offices say cannot sort it out, must go KL Sentral to sort this out.
My question is….why our cards suddenly get blacklisted? And what is Touch and Go doing with the millions of extra money they get?
I suggest you go to Wang Tidak Dituntut Department operated by government if TnG did forfeit your money. They cannot simply sapu the money because that is against the law. It’s very likely your money is sent there.
So many kena ragut cases, handbags & loaded value TnG cards inside
1) Repot polis
2) Go to TnG hub to reapply card
3) TnG will transfer credit from old card to new card, while disabling old card
4) … Profit! New card with a new 10 year extension!
LMAO,if you really wanted take public transport lorr
WTF..Now TnG wanna cheat consumers by using their stupid cards so we have to pay extra 10% when purchasing goods using their Alipay cards like their TnG cards?
there are no surcharge when paying for retail items … only carpark bro.
Abolish surcharge then you talk about added service.
Before you get your hopes up, no, you can’t use the app to pay your toll or parking. Besides the name, not much else are shared between them. So dumb
Tng number one bcause of monolopy economy
What’s wrong smart tag always not have stock/ not available at Plus h/way sale counter..? why available at Lazada and the price are diffrent and expensive..? This for rakyat or politicians..? Capitalist lah….!
what we want is can online top-up, no reload fee & no surcharge.
All this digital payment is only there to take advantage of your unused money to run the business. Of course, in return you get the convenience of going cashless but the company will use your balance to run other things just like FD. At least FD still give you interest in return. But this has no financial returns but merely a tool of transaction.