Touch ‘n Go continues to see improvements and further expansion of its operations. The eWallet company has incorporated new security measures which were imposed on banks by Bank Negara Malaysia to combat malicious financial scams; this is due to the recent rise of security breaches among eWallets and bank transactions.
The company’s Chief Executive Officer said, “Touch ‘n Go eWallet places great emphasis on privacy and security features to safeguard our users’ interests. We believe that the measures we have put in place will give our users peace of mind that the money in their eWallet is protected and every transaction they make is safe and secure.”
Touch ‘n Go being a part of the National Scam Response Centre, will implement five strategies by the first quarter of 2023:
- Enhance security by adding more authentication methods to complement the current methods.
- Tighten fraud rules and block suspicious transactions.
- Verification and cooling-off period for first-time enrolment of services, secure device, or profile document.
- Restrict authentication of e-transactions to one mobile device or secure device per account holder.
- Have a dedicated customer service channel/hotline for incident reports and suspicions of scams and fraud.
Besides tightening its security, the company is also looking to expand its digital payments to Mainland China, which allows for a seamless cashless experience when traveling abroad through its collaboration with Alipay+, which is a global cross-border digital payment and market solution operated by Ant Group.
Alan Ni, the company’s CEO, said, “we are pleased to continue our partnership with Alipay+ on cross-border payment solutions and expand our services territory beyond Singapore, Japan South Korea. Touch ‘n Go eWallet is the first Malaysian eWallet which can be used for payments in Mainland China. This augurs well for all our users traveling there as they will enjoy the ease of making cashless payments, and in Ringgit Malaysia as well.”
He added, “We expect our users to experience the same seamless convenience of using Touch ‘n Go eWallet in Mainland China as how they would in Malaysia, and with the assurance that their transactions are safe and secure. We will continue to grow our acceptance to more markets in time to come.”
Alipay+ has been gaining ground in markets including Southeast Asia, South Korea, and Japan and has connected local and regional merchants through various digital payment methods. Globally, Alipay+ covers over 1,000 online platforms, more than 10 major airports, over 90,000 convenience stores, over 360,000 restaurants, nearly 200,000 taxis, as well as major hotel brands, department stores, duty-free shops, and tourist facilities in Asia and Europe. In total, there are over 2.5 million merchants that support Alipay+.
Leave a Reply