28th October 2021 - 2 min read
Touch ‘n Go (TNG) eWallet has joined hands with digital payments service provider Visa to enhance the payment experience and provide new payment solutions for its customers, including a TNG Visa Prepaid Card tied to the TNG eWallet.
The partnership will see TNG eWallet joining Visa’s Fintech Fast Track Programme, which allows it to access Visa’s global network of partners and affiliates. It will also include the development of the TNG Visa Prepaid Card, which is slated to be rolled out to TNG eWallet users in 2022. Among other functions, the TNG Visa Prepaid Card will allow users to make withdrawals at Visa-enabled automated teller machines (ATMs), both domestically and globally.
TNG Group also drew data from the Visa Consumer Payment Attitude Study (August-September 2020) to highlight the significance of the TNG Visa Prepaid Card, noting that 77% of Malaysians use both contactless cards and digital wallets when performing transactions. The TNG Visa Prepaid Card will give them the best of both worlds, on top of an improved payment experience by complementing TNG eWallet’s existing network of QR merchants in Malaysia with Visa’s network of more than 70 million merchant locations globally.
“This strategic collaboration between Touch ‘n Go and Visa will take the work between our companies to the next stage. Both brands are customer focussed, and with Visa, we expect to continue to strongly deliver a variety of value-added services to our eWallet users,” said the group chief executive officer of TNG Group, Effendy Shahul Hamid.
Meanwhile, the country manager of Visa Malaysia, Ng Kong Boon said that the partnership will help more consumers to adopt digital payments through the issuance of a Visa card. “Through this partnership, we also look forward to jointly launching a varied set of financial service offerings with Touch ‘n Go for the unbanked and underserved segments in Malaysia, leveraging the global accessibility of Visa’s network partners,” he said.
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world