TnG e-wallet offers faster cash withdrawal with Visa Prepaid card

KUALA LUMPUR, 18 Jan 2023:

A common peeve for e-wallet usage is how annoyingly slow it is to make cash withdrawals, even though this financial facility effectively operates like a prepaid card.

Recognising this drawback, TnG Digital Sdn Bhd has incorporated the Visa Prepaid card system into its e-wallet – enabling immediate withdrawals at any ATM that offers such a direct linkage with the Visa global network.

The journey has taken about two years and will be progressively offered to over 18 million current TnG e-wallet users who want this withdrawal convenience, explained chief executive officer Alan Ni at the latest facility launch today.

There is a withdrawal charge, similar to the MEPS fee when using an ATM of a different bank, plus exchange rates where applicable as the withdrawals can be made at any ATM around the world.

With this global ease-of-use, the TnG e-wallet also expands its usage by riding on the Visa network – able to pay even when there’s no QR code scanning for Duitnow service within Malaysia or larger merchants which prefer plastic cards.

The payment facility riding on the Visa network include the capability to pay for online purchases (somewhat similar to the Alipay service) and while travelling abroad.

“Touch ‘n Go e-wallet is now able to offer all the services equivalent to an alternative bank to all e-wallet users for free,” said Ni.

The new facility comes with a physical card, sent to the user for a RM5 delivery fee, for usage at ATMs and merchant spending. “Applying for this Visa facility within the TnG w-wallet app is fast and when approved, it can be used immediately.”

Ni said the physical card has no 16-digit number displayed – making it useless to anyone else who may have stolen or found it. “With the e-wallet app, you can also control the spending limit or turn off the physical card usage permission, without having to seek help from a call centre.”

Bundling this card with its corporate social responsibility (CSR) partner United Voice, Ni said every card issued will see RM2 donated to this NGO helping the disabled with career support.

Potentially raising a significant amount, with this commitment being open-ended, the proceeds will be used by United Voice to run projects to drive new employment opportunities by upskilling, training and educating people with learning disabilities.

This initiative is a further extension of its long-term collaboration with United Voice, which started in September 2022 with the purchase of 10 paintings from United Voice artists. The design for the Visa card is also drawn by talented autistic artist Damien Wong, who’s with the NGO.