Touch ‘n Go (TNG) eWallet has announced that it will be introducing a 1% conversion fee for QR payments made abroad starting from 25 April 2024.

In a notice sent to its users, the e-wallet service provider said that it is dedicated to providing Malaysians with a seamless cross-border QR payment experience. As such, it has enabled QR payment access to merchants in more than 40 countries through its collaboration with international partners.

“As part of our commitment to providing seamless transactions, we have been subsidising all the charges that are considered industry norms to facilitate the service. However, we recognise the need for long-term commercial sustainability. Therefore, starting from 25 April 2024, we will be implementing a nominal 1% overseas transaction conversion fee for cross-border QR payment,” the e-wallet service provider shared.

TNG eWallet further reassured that despite this adjustment, its fee continues to remain as one of the lowest in the industry. This update has also been reflected in its FAQ page, where it further noted that the fee will be included in the daily exchange rate of your destination, and that “the sum you’re paying from the effective date [25 April 2024] is inclusive of this [conversion] charge.”

For context, TNG eWallet has collaborated with Alipay+ and other partners to offer Malaysian travellers the convenience to make seamless QR cross-border payments in selected countries abroad, just as they can back in Malaysia. These include Mainland China, Singapore, Japan, South Korea, as well as United States and United Kingdom – just to name a few.

Through these same collaborations, TNG eWallet merchant partners in Malaysia can also accept QR payments from tourists from selected countries, such as China (through AliPay), South Korea (Kakao Pay), and Thailand (TrueMoney).

(Source: TNG eWallet)

• TAGS:
• Alipay
• Cross-Border Payments
• Cross-Border QR Payments
• Overseas Transactions
• TNG
• TNG eWallet
• Touch 'n Go
• Touch 'n Go eWallet