- Touch ’n Go eWallet has launched the DuitNow Transfer function to aid with money transfers in countries such as Malaysia.
- The new move makes Touch ’n Go eWallet interoperable with a variety of other services and should increase its acceptance at DuitNow QR merchant acceptance points.
- “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,” said a senior figure at Touch ’n Go eWallet.
Touch ’n Go eWallet, a provider of e-wallet services, has announced that it will offer an international money transfer function from DuitNow Transfer.
The firm said that it had set up the service to allow customers to make internet banking transfers to e-wallets in real time.
The service is based in Kuala Lumpur, Malaysia.
The DuitNow Transfer function will enable customers to make transfers from any online banking account.
The new move means that Touch ’n Go eWallet is interoperable, meaning that it will work as part of broader payment systems such as those operated by banking institutions.
The Touch ’n Go eWallet is an accepted form of payment in more than a million DuitNow QR code merchant acceptance locations.
It is believed that there is significant expansion on the cards as the DuitNow Transfer integration develops and enhances.
In a statement, the chief executive officer of the Touch ’n Go Group said that the move showed that the company was progressing further into the financial services market.
Effendy Shahul Hamid described it as “deepened penetration” into that world.
“This marks our deepened penetration into the financial services ecosystem,” he said.
He also said that the new arrangement would aid the firm’s plans to offer value-added services.
“DuitNow Transfer allows us to inter-work better with our users’ source of funds, as we aim to deliver superior value-added services to them across a range of use-cases,” he said.
He went on to say that there were innovative potential use cases on offer.
“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.”
Touch ’n Go eWallet also shared some instructions on how to activate the new system.
Those who plan to use it will only need either the Touch ’n Go eWallet account number or the mobile telephone number of the recipient.
Fund transfers are expected to happen instantly.
Users will be required to activate their accounts before they get started with the service.
They will also need to gather relevant details, such as account numbers and phone numbers, and link their eWallet to the DuitNow service.
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