Touch ‘n Go gets BNM’s nod to offer e-wallet services

By IZZAT RATNA / Pic By MUHD AMIN NAHARUL

TOUCH ‘n Go Sdn Bhd, a partially owned entity of CIMB Group Holdings Bhd, has obtained approval from Bank Negara Malaysia (BNM) to operate and offer mobile e-wallet services in Malaysia, via TNG Digital Sdn Bhd.

The new mobile e-wallet will facilitate payments in a cashless and cardless environment, by leveraging on Ant Financial Services Group’s Alipay technology platform, the global leading digital financial services provider.

Touch ‘n Go CEO Syahrunizam Samsudin (picture) said the move is in support of government’s aspiration to accelerate the creation of a robust and secure digital payments ecosystem.

“Today, Touch ‘n Go is already the No 1 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 in a statement yesterday.

The new mobile e-wallet will enable Malaysians to experience a secure, convenient and seamless payment ecosystem by using QR (quick response) codes to perform, among others, online shopping, bill payment, retail payments, as well as peer-to-peer fund transfers.

Touch ‘n Go also expects its current users, who are predominantly toll, transit and parking users, to quickly sign up to enjoy these expanded services.

TNG Digital is also a joint-venture company with Ant Financial.