Touch ‘n Go has partnered with Visa to develop a prepaid card solution tied to its e-wallet which is expected to be available to users in 2022.
The Touch ‘n Go-Visa Prepaid Card will enable the e-wallet to offer additional cash-out options with last-mile withdrawals at Visa-enabled ATMs domestically and globally.
The card complements Touch ‘n Go eWallet’s existing network of QR merchants in Malaysia with Visa’s broad network of more than 70 million merchant locations globally.
Touch ‘n Go eWallet will also join Visa’s Fintech Fast Track Programme, allowing it to directly access the payment giant’s global network of partners and affiliates.
Effendy Shahul Hamid, Group CEO, Touch ‘n Go Group said,
“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,”
Ng Kong Boon, Visa Country Manager for Malaysia said,
“As the COVID-19 pandemic is expected to accelerate the transition of our country towards a fully cashless society by 2025, we are pleased to partner Touch ‘n Go to enable 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.”
