Touch ‘n Go Launches Digital Investment Platform GoInvestby Fintech News Malaysia August 15, 2022 0 comments
Touch ‘n Go Group has launched GOinvest, its proprietary digital investment platform, which can be accessed through Touch ‘n Go eWallet.
GOinvest’s first product offering is the Principal Islamic Money Market Fund which is developed and managed by Principal Asset Management Berhad.
Touch ‘n Go eWallet users, aged 18 years and above, can start investing as little as RM10 in the Shariah-compliant fund.
There is no lock-in period or cap on the investment balance as compared to other conventional deposit products.
Users may also choose to set their personal financial goals as this would help them to focus on and achieve their investment goals.
Eventually GOinvest will enable all Touch ‘n Go eWallet users to access and choose from a range of thoroughly curated investment products, earning returns and accumulating savings in the process.
The group said that it will be rolling out more investment products on GOinvest in the coming months.
Touch ‘n Go Group has been progressively offering financial products and services, such as investments, insurance, lending, and payments solutions.
In 2021, the group launched its first of its kind eWallet feature, GO+ which allows users to earn daily returns from Principal e-Cash, a Shariah-compliant money market fund and at the same time support day to day payments. GO+ has garnered close to 2.5 million users to date.
Alan Ni, CEO of TNG Digital said,
“GOinvest is set to disrupt the investment landscape where conventional investment products are intended only for those who can afford larger investment sums.
GOinvest caters to the affordability of everyday Malaysians, offering investment products which are low-ticket and easy to understand, and simplifying the investment process.”
Munirah Khairuddin, Chief Executive Officer and Country Head of Principal Malaysia said,
“We empathize with and understand the challenges faced by society under the present economic conditions. Our continued partnership with Touch ‘n Go Group, this time through GOinvest, means a great deal to us as it allows us to offer affordable investment solutions that can be conveniently accessed by all Malaysians.
The Principal Islamic Money Market Fund is a low-risk fund which offers long-term returns to investors to help them build enough savings amid future inflations.”