Malaysian e-wallet goes global

(From left) Revenue Group Bhd chief operating officer and executive director Brian Ng Shih Chiow, Eddie Ng, Tmall World (Malaysia) marketing manager Jess Lew Chah Lee and Ong posing with QR codes at the launch. — SAMUEL ONG/The Star

TNG Digital Sdn Bhd is partnering with cashless payment solutions provider Revenue Group Bhd to provide additional online shopping options to Touch n’ Go e-wallet users.

They can now shop at Alibaba-owned Taobao and Tmall marketplaces which have more than 750 million active mobile users monthly.Touch n’ Go e-wallet, a Malaysian homegrown e-wallet application under TNG Digital, currently has over five million registered users.

The two partners announced the acceptance of Touch n’ Go e-wallet on Taobao and Tmall marketplaces, at the launch in Kuala Lumpur.

TNG Digital Sdn Bhd chief executive officer Ignatius Ong said the company aimed to be the leading e-wallet provider in Malaysia.

“Realising the potential for Malaysians to go cashless, we expanded our business model to include more partners be it in retail, fashion, food and beverage or even the entertainment sector.

“Cashless is the way of the future. In fact, I can safely say that the e-wallet industry is entering its adolescent stage. People are becoming more aware and slowly making the conversion towards going cashless, ” he said.

Ong added, “Consumer demand is changing, they want things to be convenient and fast. With that said, we are constantly engaging with different merchants and partners to ensure that consumers’ payment preference is not situational but a habit.”

In his speech, Revenue Group managing director and chief executive officer Eddie Ng Chee Siong said the company’s strategic collaboration with TNG Digital was crucial in supporting the Government’s aspiration to accelerate the creation of a robust and secure digital payment ecosystem.

“Central to this collaboration is Revenue’s proprietary revPAY platform, the payment gateway that enables Touch n’ Go e-wallet users to make payments at Taobao and Tmall.

“Before this collaboration, Touch n’ Go e-wallet users could only shop and make payment for services and products listed in Malaysia.

“Now with this tie-up, Touch n’ Go e-wallet users can shop at Taobao and Tmall and make payment via revPAY, “ he explained.

RevPAY offers a single platform that facilitates the acceptance of different electronic payment transactions across multiple payment channels, from physical terminals to virtual payment (in e-commerce and mobile commerce) to QR payment.

“With the additional payment options and services, consumers shopping on Taobao and Tmall will have flexibility when making payments, ” Ng said.

“TNG Digital has led the way with the e-wallet application and the upside is that there is no reloading fee, ” he added.

Speaking to reporters later, Ong said TNG Digital currently had over 80,000 merchant acceptance points in various industries as their partners.He shared that 1,000 transactions with a total purchase value of RM100,000 was recorded in September among users shopping at Taobao and Tmall.

He added that Touch n’ Go e-wallet addressed all payment needs of users, including security moneyback guarantee where the refund would be made to the source within the stipulated time.

Ong said the e-wallet had also expanded its services to enable Malaysians to pay for toll at 19 highways, and that it would soon be extended to the northern stretch going to Penang and Bukit Kayu Hitam.

“The e-wallet is easily accessible at Tesco, convenience stores and other places.

“We are expecting to penetrate at least 70% of the Malaysian market by the end of next year, ” he added.

The Touch n’ Go e-wallet is applicable for a range of lifestyle offerings from purchasing movie tickets and retail shopping to dining.

Under the latest collaboration with Revenue Group, Touch n’ Go e-wallet users can enjoy RM10 cashback for a minimum purchase of RM100 worth of items at Taobao and Tmall during the campaign from tomorrow to Oct 15. It is limited to the first 5,000 transactions.

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