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Touch 'n Go eWallet

Touch 'n Go eWallet is a leading Malaysian and platform operated by TNG Digital Sdn Bhd, launched in 2018 as an evolution of the original Touch 'n Go contactless smartcard system for tolls and . It enables users to store electronic money on their smartphones for seamless cashless transactions, including reloads, transfers, bill payments, and everyday purchases at over 2 million merchants nationwide. With over 24 million verified users as of September 2025, it holds a dominant position in Malaysia's e-wallet market, having achieved unicorn status in August 2025, and facilitating everything from parking and tolls to and international remittances. Developed through a 2017 partnership between Touch 'n Go and Ant Financial (now Ant Group), the eWallet expanded the brand's mobility-focused origins into comprehensive fintech services, integrating features like wealth management via GO+ for high-yield savings, personal loans through GOpinjam, insurance products such as CarInsure and SafeTrip, loyalty rewards with GOrewards, and cross-border remittances using GOremit. Key milestones include its 2020 integration with the national DuitNow QR system and support for the eTunai Rakyat stimulus program, making it a cornerstone of Malaysia's cashless economy; in 2022, it became the first Malaysian eWallet accepted for payments in Mainland China; and by 2023, it pioneered the implementation of all five safety and security measures mandated by Bank Negara Malaysia to combat fraud. In 2024, it received the Putra Brand Award for Brand of the Year and People's Choice, underscoring its widespread adoption and trust among users. As of 2025, Touch 'n Go eWallet continues to innovate with launches like the TNG for SMEs in and expanded access for approximately 192,000 refugees in with UNHCR in , while maintaining its status as Malaysia's largest and a key driver in the sector's growth toward a projected RM469.99 billion market by 2030. Its emphasis on , such as the introduced in 2019, and international usability for tourists further solidify its role in promoting and digital payments across diverse demographics.

History

Origins from Contactless System

The contactless smart card system was introduced in September 1997 by Sdn Bhd, in collaboration with PROTON and the Malaysian Highway Authority, to facilitate electronic toll payments on the country's expressways, marking a significant step toward cashless transactions in transportation. This initiative aimed to reduce congestion at toll plazas by enabling quick, contactless deductions from prepaid cards, initially focused on highway usage to streamline commuter convenience. By the late 2000s, the system's application expanded considerably, integrating with networks including RapidKL buses and Light Rail Transit (LRT) lines, as well as parking facilities and select retail outlets, thereby broadening its utility beyond tolls to everyday mobility and commerce. This growth reflected increasing acceptance of contactless payments in urban settings, with full adoption across all Malaysian highways achieved by 2011, including on-street parking capabilities. Early attempts to extend Touch 'n Go into mobile payments, such as the 2009 launch of the Maxis FastTap service in partnership with using technology, encountered challenges including low adoption rates due to limited NFC-enabled devices and consumer unfamiliarity with the platform. These efforts highlighted the hurdles in transitioning from physical cards to digital solutions amid nascent mobile infrastructure. Coinciding with Bank Negara Malaysia's National e-Payment Roadshow in 2016, which promoted e-payments to foster a , these experiences underscored the need for a more robust evolution. This momentum later culminated in a pivotal partnership with Ant Financial to advance the digital transition.

Launch and Early Development

A strategic partnership between Touch 'n Go and Ant Financial was announced on July 24, 2017, leading to the launch of the eWallet in 2018 by TNG Digital Sdn Bhd in , serving as a extension of the longstanding system to facilitate mobile payments and financial services. This launch marked a pivotal shift toward adoption, building directly on the infrastructure established with the original in 1997. Preceding the full release, an early version of the app became available in , initially enabling users to top up balances and conduct basic transactions while testing core functionalities. The beta phase focused on refining and backend stability, setting the stage for broader rollout without immediate support for advanced features like or payments. From inception, the eWallet emphasized seamless integration with the existing physical card infrastructure, allowing users to link their smart cards to the for unified and contactless transactions. This included for RFID-based payments via app-linked cards, ensuring a smooth transition for users accustomed to the card's widespread use in highways and . The platform's development adhered to regulatory standards, securing an e-Money issuer license from Bank Negara Malaysia in 2017 under the central bank's e-Money guidelines, which enabled non-bank entities to issue electronic money while maintaining consumer protections and financial stability.

Key Partnerships and Expansions

In July 2017, Touch 'n Go formed a strategic joint venture with Ant Financial Services Group, the parent company of Alipay, to establish TNG Digital Sdn Bhd as the operator of the eWallet platform. Touch 'n Go held a majority 51% stake, while Ant Financial took 49%, bringing expertise in mobile payments and enabling the integration of cross-border technologies such as QR code scanning and digital wallet interoperability from the outset. This collaboration laid the foundation for the eWallet's technological backbone, facilitating seamless adaptations for international use cases beyond Malaysia's domestic market. Building on this alliance, the eWallet expanded into in 2019 through integration with Alibaba Group-owned platforms, notably , allowing users to complete purchases via QR payments for a more streamlined checkout experience on these international sites. This move capitalized on Ant Financial's ecosystem ties to Alibaba, enhancing accessibility for cross-border shopping without additional fees or complex verifications. The partnership extended further in 2022 with 's investment in TNG Digital, reinforcing growth amid rising online retail demands. The in 2020 accelerated adoption through new contactless integrations, including partnerships for donations to non-governmental organizations, where the eWallet facilitated over RM280,000 in contributions to 22 entities via QR codes to minimize physical interactions. Concurrently, collaborations with services like DeliverEat enabled cashless orders from over 2,000 restaurants, while acceptance at all stores nationwide—rolled out in late 2019 but amplified during lockdowns—supported essential retail transactions without cash handling. By 2024-2025, expansions focused on overseas capabilities, with integration into the network allowing QR payments in over 40 countries, including , , , and , for spending on , dining, and without foreign exchanges. This built on the 2017 Ant Financial ties, enabling Malaysian users to link their eWallet directly to global merchants and supporting inbound payments, with transaction volumes surging during events like the 2025 . In 2025, TNG Digital achieved unicorn status with a valuation exceeding US$1 billion as of , launched the TNG Digital Business Account tailored for small and medium-sized enterprises (SMEs), and partnered with the for Refugees (UNHCR) to provide expanded eWallet access to 192,000 refugees, further promoting .

Ownership and Funding

Ownership Structure

Touch 'n Go eWallet is operated by TNG Digital Sdn Bhd, whose ownership structure as of September 30, 2025, reflects a mix of Malaysian banking, international fintech, and insurance interests. The largest shareholder is Touch 'n Go Sdn Bhd, holding 45.01%, which is a wholly owned subsidiary of CIMB Group Holdings Bhd. Other key stakeholders include Ant International Technologies (HK) Holding Ltd with 34.62%, Lazadapay Holdings Pte Ltd with 11.38%, ASP Malaysia LP with 5.99%, and AIA Bhd with 3%. This distribution ensures balanced influence among financial institutions with expertise in digital payments, e-commerce, and insurance sectors. TNG Digital operates under the governance of its , which comprises representatives from major shareholders to leverage specialized knowledge in innovation and . For instance, the board includes figures with backgrounds in regulatory oversight and banking, such as Chairman Syed Zaid Albar, appointed in October 2025, whose experience from the Securities Malaysia emphasizes compliance and strategic growth. The company is regulated by Bank Negara Malaysia as an e-money issuer and registered merchant acquirer, ensuring adherence to national standards for digital . The ownership structure has evolved since TNG Digital's formation in 2017 as a between Sdn Bhd and Ant Financial (now under Ant International), where the initial setup featured as the majority holder at 51% and Ant Financial at 49%. Ant's entry marked a pivotal milestone, introducing advanced capabilities and diluting the original domestic dominance to foster international expansion while maintaining CIMB's through its subsidiary. Subsequent adjustments, including stakes from and partners, have stabilized the structure for sustained operational resilience.

Investments and Financial Backing

Touch 'n Go eWallet was established in 2017 through a and between Sdn Bhd and Ant Financial Services Group, with the former holding a 51% stake and the latter a 49% stake to support the eWallet's initial development in the space. This initial seed funding from Sdn Bhd laid the foundation for the platform's launch, leveraging Ant Financial's expertise in digital payments. In 2021, TNG Digital, the operator of Touch 'n Go eWallet, secured US$75 million (approximately RM312 million) in a funding round led by AIA Malaysia and Bow Wave Capital Management, aimed at enhancing app features and expanding . This investment valued the company at around RM3 billion and marked a significant boost for operational growth. The platform received further financial backing in July 2022 with a RM750 million equity funding round led by as a new investor, alongside a follow-on investment from parent company Sdn Bhd, bringing total funding over the prior 18 months to over RM1 billion. These funds supported enhancements to the eWallet's ecosystem, including lifestyle services and merchant integrations. In line with its ownership structure, key investments like the 2017 Ant Financial stake have maintained a strategic equity distribution, with Ant Group continuing to influence overseas initiatives such as the 2023 integration with for cross-border payments in multiple countries. As of August 2025, TNG Digital achieved status with a valuation exceeding (RM10 billion).

Services and Features

Core Payment Functions

The Touch 'n Go eWallet enables users to conduct seamless in-store and online payments through scanning, supporting transactions at more than 2 million merchant touchpoints across , including retail outlets such as supermarkets and convenience stores. Users can initiate payments by generating a personal for merchants to scan or by scanning the merchant's DuitNow directly via the app's Scan/Pay feature, facilitating quick and contactless transactions for everyday purchases. This functionality extends to e-commerce platforms, where users link their eWallet for secure without needing additional payment methods. For transportation-related expenses, the eWallet integrates with PayDirect and RFID systems to automate and payments. By linking a card to the eWallet, PayDirect deducts charges directly from the user's balance upon passing toll plazas or facilities, eliminating the need for manual top-ups at gates. The RFID , affixed to vehicles, enables hands-free deductions from the eWallet, with an auto-top-up feature that automatically reloads funds from linked bank accounts when the balance falls below a set threshold, ensuring uninterrupted access. These features streamline urban mobility, particularly on major highways managed by entities like , where eWallet balances are prioritized over card-stored value. Bill payments through the eWallet cover a range of essential services, including utilities like electricity from Tenaga Nasional Berhad (TNB), telecommunications postpaid plans and mobile reloads, and government fees such as renewals via the Road Transport Department (JPJ). Users access the Bills section in the app to select billers, input account details, and process payments instantly, with options for scheduling recurring settlements to avoid late fees. For JPJ services, while counters now accept direct eWallet scans, the app facilitates online renewals and payments for vehicle-related obligations. Peer-to-peer (P2P) transfers are handled via the eWallet's integration with the DuitNow system, allowing instant domestic remittances to other eWallets or accounts without transaction fees for amounts up to RM10,000 per (with daily limits up to RM120,000). Transfers occur in using the recipient's mobile number or virtual account, supporting fee-free sharing among family and friends within Malaysia's interoperable payment network. This capability, enabled by secure protocols regulated by Bank Negara Malaysia, ensures protected s with funds held in PIDM-insured trust accounts.

Advanced Financial Tools

Touch 'n Go eWallet offers advanced financial tools beyond basic transactions, enabling users to engage in savings, , loans, remittances, , and programs designed for long-term . These features integrate seamlessly with the platform's core functions, allowing users to allocate funds directly from their eWallet for enhanced returns and rewards. The eWallet's savings products include the GO+ high-yield savings option, which functions as a tool providing competitive returns on deposits. As of October 2025, the GO+ feature allows users to save up to RM20,000, with potential daily returns of up to 3.5% per annum and a minimum starting amount of RM10. This product is structured as an in low-risk instruments, offering liquidity similar to a while aiming to outperform traditional fixed deposits. Personal loans are available through GOpinjam (integrated with CashLoan), offering amounts from RM100 to RM150,000 with interest rates starting from 4.99% per annum and tenures from 1 week to 7 years. Eligible users with a minimum monthly of RM1,400 can apply digitally via the app in partnership with Bank. International remittances are facilitated by GOremit, allowing users to send money to over 50 countries, including instant transfers to eWallets in select Asian nations (e.g., within 20 minutes to up to 250,000). The minimum amount is RM50 per transfer, with fees up to RM20 varying by destination. Investment options within the eWallet are facilitated through partnerships with established financial institutions, focusing on accessible s and insurance-linked products. Users can invest in funds managed by Principal Asset Management Berhad directly via the app, starting from RM10, which supports goal-based investing without requiring separate brokerage accounts. Additionally, a strategic partnership with AIA , announced in July 2021, enables the distribution of personalized digital solutions, including protection plans linked to investments, to over 16 million eWallet users. These offerings emphasize simplicity and integration, allowing seamless purchases of products from providers like AIA, , and Etiqa within the app, such as CarInsure for vehicle coverage (with up to 10% premium discounts and RM50,000 personal accident protection) and SafeTrip for (covering inconveniences, medical expenses, and accidents for trips domestic or international). The rewards and loyalty program, known as GOrewards, was launched in November 2023 to incentivize user engagement through points collection. Users earn 1 point for every RM1 spent via eWallet or TNG Visa card (up to 10x points at partner merchants), redeemable for cashback vouchers, discounts, or other rewards at outlets like , , and . Points expire after 6 months of inactivity. This program extends to collaborations, such as with Fave, where users can earn additional cashback on QR payments. For overseas spending, Touch 'n Go eWallet provides tools like multi-currency support through its prepaid card and QR payment integrations, accepted in over 50 countries with low exchange rates. The partnership, active since at least September 2023, allows seamless payments at global merchants without additional foreign exchange fees, using the platform's disclosed rates updated daily; this includes transactions in and , where users pay directly from their eWallet balance. Cash withdrawals are also supported internationally via the Visa card, enhancing convenience for travelers.

Technology and Security

Platform Architecture

The Touch 'n Go eWallet operates through a cross-platform mobile application available on both and devices, enabling users to access its services via smartphones running or later and 9 or higher. This native app development ensures compatibility with a wide range of devices, facilitating seamless user interactions such as account management and payment initiation. The frontend is designed for intuitive navigation, supporting features like scanning and balance checks, while adhering to platform-specific guidelines from Apple and for performance and security. At the backend, the platform relies on 's infrastructure to handle scalability and high-traffic demands, powering data processing, storage, and real-time operations for millions of s. This cloud-based architecture includes services like Elastic Compute Service (ECS) for virtual servers and DataWorks for efficient , allowing the eWallet to manage peak loads during promotional events or high-volume periods without . By migrating to , Touch 'n Go eWallet has achieved enhanced efficiency in testing and deployment, reportedly improving test efficiency by six times through tools like EMAS Mobile Testing. Additionally, the platform integrates 's PAI for data analytics, Qwen for , and Zoloz for advanced biometric to bolster prevention and . The setup supports robust data analytics for scoring and detection, contributing to the platform's ability to serve over 24 million verified s as of September 2025 and more than 2 million merchants nationwide. Key integrations with national payment systems enable real-time functionalities, including connectivity to DuitNow for instant transfers and QR-based across participating banks and eWallets. This interoperability allows users to reload their eWallet or make transfers using DuitNow IDs like phone numbers or NRIC, with zero fees and 24/7 availability, streamlining cross-institution transactions. For card linkages, the platform supports direct connections to local debit cards, facilitating quick and top-ups without physical cards, as part of broader compliance with Malaysia's unified payment ecosystem. These integrations ensure low-latency processing for everyday use cases like bill and remittances. The architecture incorporates RFID and technologies for contactless operations, particularly in the enhanced Card and RFID tags linked to the eWallet. compatibility allows users to top up physical cards directly via NFC-enabled smartphones, such as tapping an or device to transfer funds from the . Meanwhile, RFID tags enable drive-through toll payments at highway gantries without stopping, automatically deducting from the linked eWallet balance if funds are low. This hybrid approach bridges digital and physical payment methods, supporting seamless transitions at over 1,000 toll plazas in . An ecosystem facilitates integrations, allowing businesses to incorporate Touch 'n Go eWallet as a payment option through standardized interfaces provided by partners like and . These support server-to-server communications for transaction authorization, settlement, and refunds, enabling sites and point-of-sale systems to process payments efficiently. Legacy business have been leveraged to expand features like QR payments and , contributing to widespread adoption across , , and online platforms. The handles substantial , supporting integrations for over 2 million touchpoints as of 2025.

Security Protocols and Compliance

Touch 'n Go eWallet has implemented the five mandatory safety and security measures mandated by Bank Negara Malaysia (BNM) to combat financial scams and , becoming the first e-wallet in to do so in March 2023, four months ahead of the July 2023 deadline. These measures include migration from SMS-based one-time passwords to more secure biometric authentication methods, enhanced detection and blocking rules with real-time monitoring, TapSecure for one-tap approval of online payments, a 48-hour cooling-off period limiting on newly registered devices, and a dedicated channel for users to report suspicious activities directly within the app. In March 2025, TapSecure was extended to the Touch 'n Go eWallet Card, enabling one-tap approvals for online and further replacing SMS-based OTPs. Since its licensing as an e-money issuer by BNM in 2019, the eWallet has adhered to broader regulatory security requirements, including two-factor authentication and daily limits to protect user funds. To further safeguard user data and transactions, Touch 'n Go eWallet supports biometric login options such as and , enabling secure access and approval without relying on passwords alone. All sensitive information and transactions are protected through , ensuring that data remains confidential during transmission and storage. Additionally, the platform employs advanced fraud detection systems that operate 24/7, using graph-based analytics to identify and block suspicious patterns in , such as unusual transaction behaviors. Complementing these technical safeguards is a zero-liability for unauthorized transactions; users can report incidents via an in-app form, with investigations completed within 14 days and full refunds provided if is confirmed, provided the report is submitted promptly. The eWallet maintains compliance with Malaysia's Personal Data Protection Act (PDPA) by conducting regular system audits and implementing data minimization practices to limit collection and retention of personal information. It also adheres to Payment Card Industry Data Security Standard (PCI-DSS) requirements as a regulated under BNM oversight, which includes annual third-party audits to verify secure handling of cardholder data. These protocols are integrated into the underlying platform architecture, which supports scalable and resilient security features while ensuring ongoing regulatory alignment.

Adoption and Impact

User Growth and Market Penetration

Since its launch in 2018, Touch 'n Go eWallet has experienced significant user growth, expanding from approximately 4 million registered users in mid-2019 to over 24 million verified users by late 2025. This rapid expansion, accelerated by the as a catalyst for digital payment adoption, has positioned the eWallet as a dominant player in Malaysia's sector. The platform commands more than 60% of the eWallet in as of 2024, leading in digital payment volume among competitors. Bank Negara reports highlight its role in driving overall digital payment growth, with eWallets like contributing to a surge in transaction values exceeding RM15 billion monthly by mid-2025. eWallet's merchant network has grown to over 2 million outlets nationwide by 2025, facilitated by incentives such as instant self-registration and zero-fee onboarding for merchants. This expansion has enhanced accessibility, particularly through agent networks that support rural penetration. Demographically, adoption is highest among urban , with surveys indicating over 60% usage in this group, while rural uptake continues to rise via targeted outreach and initiatives.

Reception and Societal Influence

Touch 'n Go eWallet has received largely from users, earning a 4.7 out of 5 rating on based on over 833,000 reviews, with many praising its user-friendly interface for seamless payments and attractive rewards programs. The platform's adoption surged during the 2020 , as contactless payments became essential for reducing physical interactions, further enhancing its reputation for convenience in daily transactions. Despite its strengths, the eWallet has faced criticisms, particularly in its early years. In , users reported frequent glitches and cumbersome reload processes, leading Touch 'n Go to suspend certain mobile top-up features amid backlash over usability issues. Pre-2020 complaints also highlighted high fees for card top-ups, which deterred some users from frequent reloading. More recently, occasional service outages in 2023 disrupted access, preventing logins and payments for several hours and drawing frustration from affected customers. The eWallet has played a significant role in advancing Malaysia's cashless economy, contributing to a sharp rise in digital payment usage from 25% in 2019 to 88% by 2024, aligning with national goals for 90% cashless transactions by 2025. It has promoted by providing accessible micro-savings options and services to populations, including partnerships with organizations like UNHCR to onboard refugees into the , such as expanded access for 192,000 refugees. This has empowered underserved communities with tools for savings, remittances, and basic banking without traditional accounts. Touch 'n Go eWallet has been recognized for its innovation, receiving the Malaysia Digital Status award from the Malaysia Digital Economy Corporation in 2024 for advancing standards and talent development. It also won Best eWallet and Best MSME eWallet at the PC.com Readers' Choice Awards in 2025, highlighting its leadership in user-centric digital payments.