Touch n Go (TnG) has entered into a strategic partnership with Visa, and the partnership will see the Touch n Go eWallet join Visa’s Fintech Fast Track Programme, which allows TnG to directly access Visa’s global network of partners and affiliates.
What this tie-up means for Touch n Go eWallet users is that we will soon get to use a Visa prepaid card that is tied to the app – think BigPay and Maybank’s MAE card. TnG says that the card will debut in 2022.
According to the Visa Consumer Payment Attitudes study, both contactless cards (92%) and digital wallets (81%) are widely used in Malaysia. Data shows that 77% currently use both. With the upcoming Touch n Go Visa prepaid card, “Malaysians can enjoy the best of both worlds” as the card complements Touch n Go eWallet’s existing network of QR merchants in Malaysia with Visa’s network of more than 70 million merchant locations globally.
TnG says that the upcoming card will offer Touch n Go eWallet additional cash-out options through enabling last-mile withdrawals at Visa enabled ATMs in Malaysia and abroad. Those who use multiple cards will have to see if there are further benefits, but TnG eWallet users who want simplicity will soon be able to use one card and one app to tap one source of funds.
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