Touch ‘n Go has secured the go-ahead from the Malaysian central bank to operate mobile e-wallet services in the country.
The new e-wallet service will be offered through TNG Digital, Touch ‘n Go’s joint venture with Ant Financial.
The service will make use of Ant Financial’s mobile payment platform Alipay, allowing Malaysian consumers to do online shopping, bill payment, retail payments, and P2P fund transfers using Quick Response (QR) codes.
Touch ‘n Go CEO Syahrunizam Samsudin said: “In support of the government’s aspiration to accelerate the creation of a robust and secure digital payments ecosystem, we are excited to have obtained approval for this new e-wallet through our joint venture with Alipay.
“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.”