CASHLESS payment solutions provider Revenue Group Bhd has teamed up with TNG Digital Sdn Bhd to provide additional online shopping options to Touch n’ Go (TNG) eWallet users to shop on Alibaba Group Holding Ltd-owned Taobao.com and Tmall.com marketplaces.
Taobao and Tmall are the world’s largest e-commerce marketplaces with a monthly active mobile user of 755 million reported in June 2019.
Revenue, which provides a host of payment solutions, is known for its revPay platform which facilitates payment acceptance for Taobao and Tmall customers in Malaysia.
To formalise the partnership, Revenue and TNG Digital had recently signed a memorandum of understanding (MoU) which allows TNG eWallet users to shop on the two marketplaces and make payments using their e-wallet application on Revenue’s revPay platform.
Revenue MD and group CEO Eddie Ng Chee Siong said the strategic collaboration with TNG Digital is in support of the government’s aspiration to accelerate the creation of a robust and secure digital payments ecosystem.
The company sees this collaboration as further strengthening its value proposition by providing its customers with ease and secured mobile and web payment options through its revPay Malaysia e-banking platform — thus moving the country further into the realm of digital payments.
“The business interests of our business partners are always important to us, and we continue to strive to develop innovative products and solutions that will help them grow.
“Our latest effort has led to a strategic collaboration with TNG Digital, and with the additional payment options and services made available to the consumers via the TNG e-Wallet on our revPay platform, consumers shopping on Taobao and Tmall will have the flexibility to make payment according to their personal preference and behaviour,” he added.
TNG Digital CEO Ignatius Ong said these days, shopping online makes up a big part of the lives of Malaysians — and with the ease of access to these sites improving to the point that purchases can be made via a single tap — it is more important than ever that the TNG eWallet is present.
“We at TNG eWallet want to continue being the enabler for a truly cashless society and what better way then, than to be available as a payment channel on the world’s largest e-commerce marketplaces, Taobao and Tmall. I am optimistic that our users will enjoy this new payment channel and we expect a good take-up rate,” he added.
The TNG eWallet offers a range of lifestyle offerings — from purchasing movie tickets, retail shopping to food and beverages and entertainment.
Additionally, the TNG eWallet is also championing mobility through the introduction of PayDirect and radio-frequency identification system for toll payments.
To date, the TNG eWallet has over five million registered users and more than 80,000 merchant acceptance points.
The strategic collaboration with TNG Digital will help to drive Revenue’s electronic transaction processing segment moving forward as it is set to gain from the electronic transaction processing fee.