KUCHING: Users of the Touch ‘n Go eWallet are now able to transfer funds from any internet banking account to the eWallet in real-time via DuitNow transfer function.
Its chief executive officer Effendy Shahul Hamid said the launch of the function yesterday (Oct 18) would also provide users with greater function and flexibility which supported Touch ‘n Go eWallet’s expansion into the digital financial services space.
“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.
“This also opens several new opportunities for our users. As things evolve, employers can also use this as an alternative to allowance disbursements for their workers. We will continue to innovate around this space for our users,” he added.
According to him, using the DuitNow Transfer feature is easy as users can receive funds from registered banks by simply entering the recipients’ mobile numbers or their Touch ‘n Go eWallet account numbers
“DuitNow Transfer is an instant fund transfer function initiated from an online banking account as well as participating eWallets. It is operated by Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets.
“With its function, Touch ‘n Go eWallet is now interoperable and part of a larger payment ecosystem alongside banks.
“Touch ‘n Go eWallet is already accepted in over one million DuitNow QR merchant acceptance points and the implementation of DuitNow Transfer is expected to fuel its usage further,” said Effendy.
Explaining further, he said that DuitNow Transfer was the second service from PayNet accepted by Touch ‘n Go eWallet; the first was the DuitNow QR, the national QR code standard which allowed for any compliant QR Code to take payments from any participating banks and eWallets.
“Payers transferring money to any verified Touch ‘n Go eWallet account will have greater peace of mind as the eWallet has enabled facial verification, a tightened security feature for eWallet access and transactions.
“Additionally, users of Touch ‘n Go eWallet also enjoy the Money-back Guarantee feature which promises full compensation within five working days, for any unlikely event of unauthorised purchases or transfers,” he added.
