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Touch ‘n Go eWallet launches the DuitNow Transfer function


Kuala Lumpur (October 17): Touch ‘n Go eWallet has launched the DuitNow Transfer function, which allows users to transfer their money directly from any Internet banking account to eWallet.

In a statement on Sunday, TouchN Go Group (TNG Group), which is part of the financial services provider CIMB Group Holdings Bhd, said that the service of the DuitNow transfer payment network Malaysia Sdn Bhd (PayNet) was accepted. By Touch ‘n Go. eWallet, after DuitNow QR – National Quick Response (QR) code standard that allows QR codes to be paid to any part of the payment tree from banks and banks and eWallets.

PayNet says on its website that the scheme is Malaysia’s national payment network and is the central infrastructure infrastructure for the country’s financial markets.

“Bank Niagara Malaysia is a major shareholder of PayNet, which has 11 Malaysian financial institutions – namely Malaysian Banking Bhd, RHB Bank Bhd, Public Bank Bhd, CIMB Bank Bhd, AmBank (M) Bhd, Hong Leong Bank Bhd, Affin Bank Bhd, Alliance Bank – Malaysia Bhd, Bank Islam Malaysia Bhd, Bank Muamalat Malaysia Bhd and Bank Kerjasama Rakyat Malaysia Bhd – as joint shareholders, “PayNet said.

In the TNG Group statement, the group said that in addition to providing users with function and flexibility, DuitNow Transfer supports the expansion of Touch ‘n Go eWallet in place of digital financial services.

With the DuitNow transfer function, Touch ‘n Go eWallet is now working internationally and is part of a larger payment ecosystem, along with banks, the TITNG Group said.

“TouchNow eWallet has already been accepted at more than one million Duke Yew DuitNow QR merchant acceptance points, and the implementation of the DuitNow transfer is expected to fuel its use,” the TNG group said.

Offendi Shahid Hamid, Group CEO of TouchNewGroup Group, said in the statement that DuitNowTransfer marks a key entry into the group’s financial services ecosystem.

“DuitNow Transfer allows us to work better with our clients’ funding sources, as we aim to provide them with a range of value-added services and services use cases,” Offendi said.

The DuitNow transition also opens up new opportunities for TouchNow eWallet users, according to him.

For example, working adults can easily transfer money directly from their Internet banking accounts to TouchNow eWallets to their, Earn, elderly parents and / or home helpers.

“As things continue to evolve, employers can also use it as a substitute for (allowance) allowance for their workers. We will continue to do so around our homes for our users,” he said.

According to the TNG Group statement, the group includes Touch ‘n Go Sdn Bhd (TNG) and TNG Digital Sdn Bhd (TNGD).

TNG is a wholly owned subsidiary of CIMB Group, while TNGD is a joint venture between TNG and Ant Group, a parent company of Alipay, according to the TNG Group.

TNGD, which was founded in 2017, is the owner and operator of TouchN Go eWallet, the TNG Group said.

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