Touch ’n Go eWallet confirms DuitNow transfer option


Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • 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.

To get more information on what’s happening in the online money transfer sector, just head to this page and read some reviews.

Most Read

Use Our Currency Comparison Tool

Results are ranked in order of the best overall deal, taking into account transfer times, rates, fees, and customer service.

Editor's Choice is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.