TNG eWallet Partners With Curlec To Enable Recurring Payments For Subscription-Based Services

Alex Cheong Pui Yin

29th May 2024 - 2 min read

Touch ‘n Go (TNG) eWallet has collaborated with payment gateway Curlec by Razorpay to introduce recurring payments on its platform. This is expected to benefit over 21 million verified users nationwide, as well as more than two million merchants – particularly in underserved and unbanked communities.

In a joint statement, Curlec and TNG eWallet explained that individuals typically need debit or credit cards in order to make recurring payments for subscription-based services like gym memberships or streaming services. However, such payment options may not be available to certain groups who are unable to obtain such financial facilities from conventional banks. With this latest update, TNG eWallet can now empower this particular crowd to tap into recurring payments.

On the side of the merchants, Curlec’s service – dubbed Curlec Subscriptions – will allow for them to enable recurring payment schedules, control billing cycles, and receive instant subscription alerts. In turn, micro-entrepreneurs and small businesses can benefit from the regular payment collection and improve their financial stability, on top of enhancing their operational efficiency and financial management.

Chief executive officer of TNG Digital, Alan Ni said that this partnership with Curlec is in line with the company’s commitment to democratise financial access in Malaysia, and to foster a financially empowered society. “Through this partnership, more people, including consumers, businesses, and organisations will enjoy the advantages of recurring e-wallet payments,” he said.

Meanwhile, co-founder and chief executive officer of Curlec, Zac Liew said that the company is delighted to be one of the first payment gateways in the market to partner with TNG eWallet to offer recurring payments.

“Up to 88% of Malaysians prefer TNG eWallet as a payment method. With such a high market penetration rate, leveraging TNG eWallet as a payment method would reach the underbanked and those who cannot obtain credit cards,” Liew further said.

(Source: Curlec)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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