Since the usage of eWallet are on the rise, Touch ‘n Go eWallet has today announced that it has launched the DuitNow Transfer function to its services. It allows the users to directly move their money from any banking account to their eWallet at any moment. This is to allow users to have a better experience with the digital financial services by adding a greater function with a more flexible approach.
As Touch ‘n Go eWallet is now interoperable and is a part of a larger payments ecosystem alongside banks, it is now already accepted in over 1 million DuitNow QR merchant acceptance points, while the implementation of DuitNow Transfer is expected to fuel its usage even further.
“This marks our deepened penetration into the financial services ecosystem. DuitNow Transfer allows us to inter-work better with our user’s source of funds, as we aim to deliver superior value-added services to them across a range of use-cases,” said Effendy Shahul Hamid, Group CEO, Touch ‘n Go Group.
“This also opens several new opportunities for our users. For example, working adults can easily move monies directly from their internet banking accounts to the Touch ‘n Go eWallets of their children, elderly parents and / or domestic helpers. As things evolve, employers could also use this as an alternative to allowance disbursements for their workers. We will continue to innovate around this space for our users,” added Effendy.
With the new DuitNow Transfer feature, Touch ‘n Go ensures it is easy for the users to receive funds from registered banks by simply entering the recipient’s mobile number or their Touch ‘n Go eWallet account number.
To know more about DuitNow Transfer, is an instant fund transfer function that is initiated from an online banking account as well as participating eWallets operated by Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets.
DuitNow Transfer is now the second service from PayNet that has been accepted by Touch ‘n Go eWallet and currently the first of being the DuitNow QR, the national QR code standard which allows for any compliant QR Code to take payments from any participating banks and eWallets.
To provide user’s satisfaction, in order for the payor transferring money to any verified Touch ‘n Go eWallet account, it is required to complete the facial verification, as a tightened security feature for eWallet access and transactions. To attract the user’s attention for the DuitNow Transfer feature, Touch ‘n Go eWallet introduce the Money-back Guarantee feature which promises full compensation within five (5) working days, for any unlikely event of unauthorized purchases or transfers.
