Over 75% of eMADANI Claims Were Made Through Touch ‘n Go eWallet
by Fintech News Malaysia March 4, 2024TNG Digital, the operator of Touch ‘n Go eWallet, reported that it was the go-to choice for Malaysians participating in the eMADANI initiative, securing over 75% of total claims.
The eMADANI programme, designed by the government to encourage cashless transactions and alleviate financial pressures for over 10 million citizens, has seen significant uptake through the Touch ‘n Go eWallet platform.
TNG Digital attributed this to its “commitment to provide innovative products, convenience, security, and rewards to its users, along with a highly scalable tech infrastructure and unrivaled universal payment points”.
Touch ‘n Go eWallet has approximately 21 million verified (eKYC) users and over 2 million domestic merchant payment points. Since the launch of of its GOrewards offering in November 2023, more than 9 million users have enrolled in the loyalty programme.
Alan Ni
Alan Ni, the CEO of TNG Digital said,
“Touch ‘n Go eWallet will continue to enable a cashless society in Malaysia through financial inclusivity and accessibility. We are committed to enhancing the user and merchant experience by introducing innovative solutions to redefine digital payment and financial services experience, strengthening security measures, and evolving Touch ‘n Go eWallet into the ultimate digital solution for both domestic and cross border payments, as well as a full suite of digital financial services for individual users and merchants alike.”
Established in 2017, TNG Digital is a collaborative venture between Touch ‘n Go, a subsidiary wholly owned by CIMB, and Ant Group. The company is also backed by shareholders including Lazada Group, insurer AIA Group and a venture capital firm.
