[ad_1]
The dreaded parking surcharge for Touch ‘n Go (TnG) the payment is finally coming to an end. According to the CEO of the TnG group, Effendy Shahul Hamid in a recent interview with The Star, the removal will take place at the end of this quarter.
AD
The disclosure will surely take a long time to come for TnG clients, as the plan to ditch the surcharge was unveiled to the public in November 2019. Effendy, who is also the CEO of TnG’s parent company, CIMB Digital Assets , said the removal of the surcharge was possible after he managed to convince the parking operators, as well as through some “innovation and sacrifice.”
In the same interview, he also revealed TnG’s plan to address another major issue for its customers, which is the inability to recharge their physical card through the TnG eWallet app. While the app has a feature called PayDirect that allows users to link it to their TnG cards, it can only be used for paying tolls.
Furthermore, TNG Digital has pointed out in the FAQ document for TnG eWallet that by design, transactions on existing TnG cards can only take place when in contact with a card reader. Therefore, it is not surprising that TnG Group addresses the problem by launching a new version of the TnG card that can support credit reloading through the TNG eWallet app by the end of this year.
That said, we don’t think the e-wallet recharge feature is the only attraction the new TnG card will offer. In fact, we believe there is a possibility that the new TnG card is also a payment card that acts as a physical extension of the TnG e-wallet.
Several local players such as Maybank, AirAsia Digital, and Merchantrade have already launched such cards on the market, while Singaporean fintech company YouTrip also announced its plan to do the same in Malaysia soon. Being a subsidiary of CIMB, we do not believe this is something that TnG overlooks.
(Source: The Star [requires subscription].)
[ad_2]
