The ultimate guide to Touch ‘n Go wallet: Empowering merchants in Malaysia and across Asia

Southeast Asia is charging full steam ahead into the digital age, and Malaysia is no exception.

The proof is in the numbers, with more than 17 million Malaysians using mobile wallets. It marks a definite upward swing from 2022, when over half of the Malaysian population used cashless payments daily.

The Touch 'n Go (TNG) eWallet maintains a leading position in the market with a 62% preference among Malaysian consumers and over 305 million total transactions made through the app since its inception.

Given its strong presence in the market, understanding and integrating the TNG eWallet is an imperative for merchants looking to crack the Malaysian market. Its deep integration into daily life — from public transport to retail and e-commerce — grants its merchants instant access to a tech-savvy, cashless and ready-to-spend consumer base. 

Key features of TNG eWallet

Beyond payment services, the TNG eWallet is a feature-packed super app, designed for seamless daily transactions. Some of its key features include:

• Retail payments: Trusted by 360,000 physical stores for cashless transactions, from mom-and-pop stores to large retail chains.
• Online shopping: Compatibility with e-commerce platforms like Lazada Malaysia and other international merchants like TMall and Taobao.
• Peer-to-peer transfers: Money transfers to friends, family, or colleagues at the tap of a button.
• Transportation: Allows users to buy train tickets and make digital payments to other transport services, except buses where Touch 'n Go physical cards are still needed.
• Toll payments: Touchless toll payments with the TNG eWallet to RFID tag integration, eliminating the hassle of stopping at toll gates.
• Top ups for parking payments: Allows for automatic top-ups of eWallet balance, making parking payments a breeze.
• GO+ investment feature: Encourages financial growth with low-entry investments and daily returns.
• Bill payments: Supports payments for over 10,000 billers.

Understanding TNG tiers and limits

The TNG eWallet offers three user tiers, tailored to different transaction needs:

Image from: TNG eWallet

This tiered structure delivers tailored services to consumers while enabling merchants to craft highly targeted campaigns.

For example, merchants can entice Lite users with starter deals to drive engagement and encourage upgrades. Meanwhile, with Pro and Premium users, merchants can capitalise on higher annual transaction limits by offering exclusive deals, loyalty rewards, and big-ticket promotions.

Why More People Are Using TNG eWallet

 The Touch 'n Go eWallet is the tool of choice for over 20 million verified users, offering merchants a gateway to a vast, loyal, and digitally-savvy customer base. Here are a few things that keep customers engaged:

• Widespread acceptance: Accepted by over two million merchants (as of 2023), the TNG wallet works almost anywhere — from restaurants and entertainment venues, to small shops and digital platforms. For merchants, this opens doors to a vast pool of users ready to transact.
• Seamless payments: The digital app lets users and merchants pay through and receive payments via QR code. It also has a Quick Payment feature which connects saved debit cards to your eWallet. This feature tops up your account balance via eWallet reload for the moments when your eWallet doesn't have enough funds and you need to make a purchase.
• Borderless transactions:TNG eWallet offers cashless payments in local currencies across Asia, Europe, and beyond. Partnerships with providers like NETS in Singapore, PromptPay in Thailand, and Alipay+ in multiple countries make it a go-to travel companion. Plus, the TNG eWallet Visa card adds extra flexibility, blending digital convenience with card-based security.
• Rewards points: Every RM1 spent earns GORewards points, which can be redeemed for cashback, products, or exclusive vouchers. This gamification of spending keeps users engaged and loyal.
• Option for interest-bearing account: Upgrading to a GO+ account helps users grow financially with the ability to earn daily returns while continuing their usual spending.
• Money management aid: With categorised expense tracking, users can monitor spending habits and manage budgets with ease. For merchants, this means customers who are financially organised and ready to shop.
• Safety and security measures: Regulated by Bank Negara Malaysia and backed by leading brands like Ant Group, Lazada, and American International Insurance (AIA), TNG ensures user protection by incorporating two-factor authentication, encryption, and fraud prevention measures. It also secures funds in trustee accounts managed by reputable banks like CIMB, offering peace of mind to users and boosting merchant confidence.

Other product offerings from Touch 'n Go

TNG Digital's Touch 'n Go eWallet provides super app solutions that enhance operational efficiency, customer experience, and marketing opportunities:

• Equity market trading features: With TNG's GO+ platform, users can access investment opportunities starting as low as RM10, enjoying daily returns without lock-in periods. This feature has attracted a financially savvy audience of over 4 million users who've subscribed to at least one TNG eWallet financial product in 2023.
• Insurance services: The GOprotect platform offers insurance for every need, from WalletSafe to SafeTrip. Covering theft, vehicular accidents, travel inconveniences, and critical illnesses, these options make TNG a one-stop hub for financial security.
• Physical card integration: The TNG physical card adds a tangible extension to the eWallet. Its balance synchronisation removes the need for manual top-ups in your digital account as well as at toll gates or parking meters, offering unmatched convenience. For merchants, the Touch 'n Go card can also be personalised to feature businesses and brands.
• Brand advertising for merchants: With millions of active users, TNG empowers merchants with first-party, transaction-based data for precise ad targeting and engagement. In-app ads and touch points, personalised vouchers via the GOyang-GOyang feature, geo-targeted electronic direct mailers, and other location-based campaigns ensure maximum reach and engagement. 

Community initiatives: Supporting the B40 community

Beyond being a financial tool, Touch 'n Go eWallet aims to be a force for social good in its support to the B40 community. Through initiatives like Dana Ramah, TNG raises funds to provide insurance coverage for 70,000 B40 community members, aiming to collect RM 2.8 million (USD 633,000). Similarly, the Tenang Initiative simplifies access to government-supported insurance by offering reminders, cashback incentives, and application support.

Since introducing its donation features in 2019, TNG has raised over RM76 million (USD 17.1 million), supporting disaster relief, Ramadan campaigns, and various social causes.

Expand your business to Malaysia with Antom 

International merchants selling to Malaysian consumers may want to use Touch 'n Go eWallet to help reduce cart abandonment by offering payment flexibility. Its expansive reach, advanced features, and commitment to financial inclusion make it a powerful platform for driving sales and building consumer trust.

As a new entrant into Malaysia, you may need help with onboarding Touch 'n Go eWallet on your online store. This is where Antom can help. With Antom, you can have access to an ecosystem of hundreds of payment methods. Get in touch with us for an in-depth guide on Asian e-wallets, including the TNG eWallet.

With our deep market knowledge, integrated payment technologies, and large partnerships base, we can help you boost revenue and expand your business to Malaysia and beyond.