Touch ‘n Go (“TNG”) Group today announced the launch of GO+, a financially inclusive investment product that gives Touch ‘n Go eWallet users and all Malaysians access to low-risk money market investments for as low as RM10.
GO+ is available effective March 29 to Touch ‘n Go eWallet users who are Malaysian citizens above 18 years old.
Group Chief Executive Officer of TNG Group, Effendy Shahul Hamid said the launch of GO+ is the first step to TNG’s efforts to move into the digital financial services ecosystem.
It was designed to address core customer pain points, promote financial inclusion and emphasise the use of data and technology to deliver higher-value products to users.
“We’re extremely pleased to have been able to bring this novel product to the market, and at the same time continue our evolution and journey into financial services,” Effendy said.
Effendy added that the new norms in light of Covid-19 have given a boost to everything digital, and they are fortunate to have been able to be agile and pivot to bring GO+ to the market ahead of time.
“I have always believed that the relationship between traditional financial services providers and fintech’s will be one of increased collaboration, rather than just pure competition; and this is an example of that.
“Our thanks go out to the regulators, specifically Bank Negara Malaysia and the Securities Commission of Malaysia for their efforts in facilitating this innovative product offer,” Effendy said.
GO+ enables an easy and convenient method for Touch ‘n Go eWallet users to earn returns on their GO+ balance and the returns will be credited daily.
In addition to this, GO+ will also carry a ‘cash-out’ feature that will allow movement of funds seamlessly between the user’s eWallet and designated bank account.
In order to add greater usability, GO+ balances can also be used for all eWallet payments use cases.