[E-Wallet] Money-Back Guarantee by Touch'nGo eWallet?

In a recent study by Nielsen Malaysia on Malaysia’s shifting payment landscape, only 8% of Malaysians have adopted the use of e-wallets. Why? Withdrawing cash from bank ATM not risky? Using credit card not risky? Online banking transactions not risky?

One of the major reasons highlighted as a barrier to cashless adoption is that 46% of Malaysians are concerned about security measures and fraud risks related to digital payments.

What is Money-Back Guarantee?

In order to address this security and fraud risks and to boost consumers confidence, Touch'nGo (TNG) recently rolled out its "money-back guarantee" policy, dubbed as the first-ever safety and security policy for mobile payments in Malaysia

The "Money-back Guarantee" promises full compensation within 5 days if your TNG eWallet is being charged with unauthorised purchases or reload. Their enhanced security features protect you from any risk of losing your eWallet balances through unauthorised transactions:

• Artificial Intelligence & Machine Learning - Track and analyse data to detect and prevent unauthorised transactions
• Human Intervention - Dedicated risk team for further monitoring and strengthening the back-end security system

How to define "unauthorised transactions" ???

An "unauthorised transaction" occurs when the stored value (wholly or partially) is sent from your TNG eWallet account without you authorising it and due to no fault of your own.

Please note that if, however, you authorise/allow someone to access your TNG eWallet account (for instance, provide them with your login information or 6-digit pin) and they conduct transactions without your knowledge or permission, TNG will not be responsible for all the consequences arising from this manner of unauthorised use and such transactions will not be covered under this Moneyback Guarantee Policy.

Is this Feature comes Automatically?

No. If you want to be covered under ‘Money-back Guarantee’ Policy, then you have to:

• Completed your TNG eWallet account upgrade by completing a full verification process and validated by TNG team
• The source of funds for the unauthorised transaction must originate from the your own TNG eWallet account, and;
• You must notify TNG in the manner prescribed herein within 60 days from the date of the unauthorised transaction.

Question: The unauthorised transaction happened on 18 June 2019, I filed my claim on 25 June 2019, but I only verified my account on 1 July 2019. Will I be covered?

Answer:  Yes, the user is covered since the eWallet account has been verified and the claim submission is done within 60 days of the unauthorised transaction date, 18 June 2019. However, the user shall be required to resubmit the claim after the user has verified his or her account.

Click here to Download and Read the full Terms & Conditions.


Related articles that you might be interested to read:

• Why use Touch'nGo eWallet (not the physical card) ???https://financemalaysia.blogspot.com/2019/02/why-use-touchngo-ewallet-not-physical.html
  
• How to get 20% Toll Rebates via Touch'nGo e-wallet ?https://financemalaysia.blogspot.com/2019/02/how-to-get-20-toll-rebates-via-touchngo.html
  
• Why You Must use this App, especially AirAsia traveller?
  https://financemalaysia.blogspot.com/2019/02/why-you-must-use-this-app-especially.html

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How to get 20% Toll Rebates via Touch'nGo e-wallet ?

After knowing the benefits of TNG eWallet and most importantly clearing the doubt/confusion between physical TNG card and TNG eWallet from our previous article (click here to read), it's time to move on to more details on the most important function of TNG eWallet called PayDirect.

What is so Good about PayDirect ???

PayDirect is a brand new feature that allows you to pay toll fares directly from your eWallet at these participating highways. TNG is rushing to bring you more highways enabled PayDirect in no time.

For sure, more highways will come on board very soon. Anyway, you may start experiencing the PayDirect feature at the following highways for the time being:

How to add TNG card and starts using PayDirect?

Ready to add your Touch n’ Go card details to experience the seamless convenience of PayDirect and enjoy your toll rebates?

Just follow below steps to get it done, and learn how PayDirect actually works.

Not Enough?

Want More Rebates?

Please refer to below...

Earn up to 50 x Toll Rebates !!!

Want to earn more chances to enjoy your 20% toll rebates? Every friend who signs up for Touch n’ Go eWallet using a personalised referral code will earn you 5 toll trips – you can accumulate up to 50 trips !!!

Meaning you can just refer 10 friends to sign up TNG e-wallet with your code and enjoy the maximum toll rebates. (click here to download...)

Click here and read the full Terms & Conditions and FAQ.

* Please take note that for users who redeem their complimentary Reload PIN are NOT entitled for the initial toll rebates. However, he/she still can enjoy toll rebates via this Referral Programme.

What if my e-wallet insufficient funds when passing the toll gate?
It will deduct from the balance of your Touch'nGo card which you're using.


Is this applicable for SmartTag user as well?
YES. Because SmartTag basically also using a TNG card attached.


How many TNG cards can I add into my e-wallet?
Total 3 cards is allowed and you can remove whichever card anytime in the future.

Follow more e-wallet related updates via Facebook @EWallet Malaysia

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Other articles you may interested to read on:

Why use Touch'nGo eWallet (not the physical card) ???

https://financemalaysia.blogspot.com/2019/02/why-use-touchngo-ewallet-not-physical.html

Why You Must use this App, especially AirAsia traveller?

https://financemalaysia.blogspot.com/2019/02/why-you-must-use-this-app-especially.html

10 Most Popular E-Wallet in Malaysia

https://financemalaysia.blogspot.com/2018/12/10-most-popular-e-wallet-in-malaysia.html

Why e-Wallet will be the Future Payment Method in Malaysia?https://financemalaysia.blogspot.com/2018/11/why-e-wallet-will-be-future-payment.html

Why use Touch'nGo eWallet (not the physical card) ???

Instead of holding the normal Touch'nGo (TNG) card we're using currently, we can opt for the mobile version of it via a new app called Touch'nGo eWallet. However, at this current juncture, you CANNOT reload your TNG card with the app. Don't be angry first. Let's give them sometime to sort things out.

Anyway, you can view your TNG card balance and last 5 transactions real-time via the eWallet app. That's pretty good though!

Abit of Background of TNG Digital

The e-wallet license holding company was TNG Digital Sdn Bhd (TNG Digital) and it is the joint venture entity where TNG is participating as a majority shareholder and Alipay is participating as a minority shareholder. (Bloomberg source) Meanwhile, TNG is a wholly owned subsidiary of CIMB Group.

What can do with TNG eWallet ?

The Touch 'n Go eWallet offers many attractive features that make your life more convenient.

• Transfer money to other Touch 'n Go eWallet users
• Reload your mobile prepaid
• Pay for your utilities and postpaid bills
• Purchase movie and flight tickets
• QR code payment at participating Touch 'n Go eWallet merchants
• Dynamic QR code payment at participating Touch 'n Go eWallet merchants
• To pay tolls via RFID feature and TNG Card feature (more about this in our next post)

How Do I Register as a TNG eWallet user?

It's easy, just follow these steps: 

1. Download Touch 'n Go eWallet now (click here to get the promotional code and download)
2. Register by keying in your phone number.
3. Request for One Time Password (OTP) to validate your phone number.
4. Set up your 6-Digit PIN and Security Question.
5. Fill up your personal information.
6. You're all set! Reload and pay with your Touch 'n Go eWallet.

What? Only RM200 limit per account?

Actually, you can choose to UPGRADE your eWallet size to RM5,000 by doing some verification as shown below. It's easy and only takes around 2 days to complete the verification process.

Source: Touch'nGo

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10 Most Popular E-Wallet in Malaysia

It's time to go cashless! ❤❤❤ After knowing the unavoidable changes that landed here, e-wallet will take the market by force or by storm. From our previous article, 👉 "Why e-Wallet will be the Future Payment Method in Malaysia?" (click here), we continue with the topic of e-wallet.

No more carrying hefty cash.
You can do it all from your smartphone!

In this article, we will write about the most widely used / popular e-wallets in Malaysia. 

Steps-by-step to make payment

Here is some brief introduction of them... ↓↓↓

1. Boost
   ~ Developed by Axiata Digital Services Sdn Bhd, a unit of Axiata Group
   ~ Instant cash rebate via its addictive shake rewards after each transaction
   ~ Having the most users in Malaysia (around 3.5mil users)
   ~ Notable merchants: Borders bookstore, 99 SpeedMart, SenHeng, Nando's, Tesco, Teppanyaki, Regiustea, Petsmore, Mydin...
   ~ Click here to download from Google Play / App Store (Use code: yeo31ln) to get *RM5 cash back for your prepaid mobile top up
   
   
   
   
   
   
   
   
2. Touch N Go e-wallet
   ~ TNG Digital is a joint venture company between TNG and Ant Financial (a subsidiary of Alibaba group)
   ~ Able to add your physical Touchn'Go card(s) and view the real-time balance and latest 5 transactions (reload/top up feature will be coming very soon)
   ~ Can bind with your RFID and make your toll payments via your e-wallet money
   ~ Default wallet size is RM200, or RM1,500 with debit/credit card binding, or RM5,000 with RFID tag
   ~ Notable merchants: TGV cinema, MPH, Popular bookstore, Tesco, EspressoLab...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
3. Maybank QR Pay~ Obviously, this is by Maybank
   ~ Linked with the M2U mobile app togther with your saving/current account
   ~ *For transactions below RM250, biometric / M2U password is not required
   ~ Notable merchants: NeneChicken, MyBurgerLab, Coffea Coffee, Gloria Jean's Coffee...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
4. WeChat Pay~ Backed by the powerful Chinese tech company Tencent Holdings
   ~ One of the duopoly e-wallets in China, together with Alipay
   ~ Notable merchants: Starbucks, Petron petrol stations...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
   
5. Fave Pay~ Powered by Fave, the new owner of Groupon since end-2016
   ~ Recently partner with Boost as one of the mobile wallet payment option
   ~ Notable merchants: JuiceWorks, llaollao, AuntieAnne's, PappaRich...
   ~ First you have to download the FAVE app (Use code: FAVEALEX1039) to get *RM5 off your first purchase with a minimum of RM10 spent.
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
6. Grab Pay~ Powered by Grab
   ~ Earn GrabRewards points each time you pay
   ~ Seamless payment for your Grad rides, GrabFood...
   ~ Notable merchants: Fish&Co., Tealive, Inside Scoop, Sakae Sushi...
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
   
7. BigPay~ Owned by AirAsia
   ~ The only e-wallet which comes with a physical MasterCard prepaid card
   ~ Waive the 2% fee charged by overseas ATM cash withdrawals via the physical card
   ~ Waive processing fees when purchasing AirAsia flight tickets
   ~ Earn BIG points and also able to pay in local currency when you're abroad
   ~ Notable merchants: AirAsia (of course)
   ~ Click here to download from Google Play / App Store (Use code: VDN6123EJ2) to get *RM10 cash reward
   
   
   
   
   
   
   
   
8. MCash~ One of the pioneer to launch e-wallet service in Malaysia
   ~ Homegrown brand (It stands for 'M'alaysia Cash)
   ~ Notable merchants: KK Mart
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
9. Kiple Pay~ Founded by listed company Green Packet Berhad
   ~ Previously known as Webcash
   ~ By signing up with kiplePay, it gives merchants more payment options such as internet banking, e-wallet and prepaid options on your respective online stores --- all under a single platform.
   ~ Notable merchants: Hai-O, Mydin, BeerFactory
   ~ Click here to download from Google Play / App Store
   
   
   
   
   
   
   
   
10. Vcash~ Powered by Digi Telecommunications Sdn Bhd in partnership with Valyou Sdn Bhd
    ~ Recently, Vcash gained access to more than 10,000 Ambank terminals merchants
    ~ Anyone with a smartphone can use this (not only DiGi users...)
    ~ Notable merchants: Manhattan Fish Market, Eggette Lab, New York Steak Shack...
    ~ Click here to download from Google Play / App Store

Interestingly, we noticed that most of these are either in colour of green or blue 😼😼😼

This is a guest article in collaboration with Facebook@EWalletForAll

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