Touch ‘n Go Group has launched its investment product accessible via the ewallet called GOinvest. The new service will allow users to access and choose from a range of curated investment products with its first partner being Principal Asset management.
“GOinvest is set to disrupt the investment landscape where conventional investment products are intended only for those who can afford larger investment sums. It caters to the affordability of everyday Malaysians, offering investment products that are low-ticket and easy to understand, and simplifying the investment process. The innovation and technology deployed through Touch ‘n Go eWallet allow Malaysians the flexibility of investing anytime, anywhere,” said Alan Ni, CEO of TNG Digital Sdn Bhd.
The first product offering is the Principal Islamic Money Market Fund which is developed and managed by Principal Asset Management Berhad. eWallet users, aged 18 years and above, can start investing as little as RM10 in the Shariah-compliant fund. There is no lock-in period or cap on the investment balance as compared to other conventional deposit products. Users may also choose to set their personal financial goals, such as for a dream wedding, dream car, education, or vacation, as this would help them to focus on and achieve their investment goals.
Munirah Khairuddin, Chief Executive Officer and Country Head of Principal Malaysia said, “We empathise with and understand the challenges faced by society under the present economic conditions. Our continued partnership with Touch ‘n Go Group, this time through GOinvest, means a great deal to us as it allows us to offer affordable investment solutions that can be conveniently accessed by all Malaysians. The Principal Islamic Money Market Fund is a low-risk fund which offers long-term returns to investors to help them build enough savings amid future inflations.”
Touch ‘n Go Group has been progressively offering financial products and services, such as investments, insurance, lending, and payments solutions, which are specially tailored to offer value and convenience to the Malaysian public. In 2021, the Group launched its first-of-its-kind eWallet feature, GO+ which allows users to earn daily returns from Principal e-Cash, a Shariah-compliant money market fund, and at the same time support day-to-day payments. GO+ has garnered close to 2.5 million users to date.
“It was a natural progression for us to offer investment solutions through GOinvest as our next step in expanding our suite of digital financial offerings. With this, Touch ‘n Go eWallet users can now have access to a wider range of investment solutions and can also now use us to address their savings profile,” added Alan.
Users will be able to look forward to more exciting investment products on GOinvest in the coming months.
