It’s only the second week of 2018, and we’ve already received some good news for Touch ‘n Go card users!
In an effort towards realising a cashless society, the electronic payment system has successfully obtained approval from Bank Negara Malaysia (BNM) to operate and offer mobile e-wallet services in the country soon.
The new feature will be operated by TNG Digital Sdn Bhd — a joint venture company with Ant Financial Services Group, an affiliate company of the Alibaba Group. It will enable payments to be made electronically at even very small merchants such as night market vendors and tea stall operators.
We’d like to note that Alipay currently supports over 450 million users in China alone via its Alipay payments system.
“TNG also expects its current users who are predominantly toll, transit and parking users to quickly sign on to enjoy the expanded services,” said CIMB, which owns 52% of TNG.
To date, there are more than 18 million active Touch ‘n Go card users in the country.