Touch ‘n Go eWallet has taken its relationship with DuitNow a step further with the integration of the Transfer function, giving users the ability to move their monies from any internet banking account directly to the Wallet.
With the DuitNow Transfer function, the ewallet app users now belong to an interoperable and part of a larger payments ecosystem alongside banks. Already accepted in over 1 million DuitNow QR merchant points, the implementation of DuitNow Transfer will be an added advantage for customers.
“This marks our deepened penetration into the financial services ecosystem. DuitNow Transfer allows us to inter-work better with our users ‘source of funds, as we aim to deliver superior value-added services to them across a range of use-cases,” said Effendy Shahul Hamid, Group CEO.
What this new function can do for users, is that for example, working adults can easily move monies directly from their internet banking accounts to the wallets of their children, elderly parents, and even domestic helpers. The CEO has also suggested for employers consider using the app as an alternative for allowance disbursements for their workers.
Using the DuitNow Transfer feature is easy as users can receive funds from registered banks by simply entering the recipient’s mobile number or their Touch ‘n Go eWallet account number.
The transfer feature is an instant fund transfer function that is initiated from an online banking account as well as participating eWallets. It is operated by Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets.
As for security, there are a couple of features in the wallet that protects users including facial verification and also the Money-back Guarantee feature which promises full compensation within five working days, for any unlikely event of unauthorised purchases or transfers.
