Touch 'n Go Group, via TnG Digital Sdn Bhd, today has officially announced the expansion of the cross-border payments capability for its TnG eWallet to Singapore. This is achieved through its collaboration with Alipay+, the cross-border service of Alibaba Group's own online payment solution operated by its affiliate company, Ant Group.
KUALA LUMPUR:- Touch ‘n Go (TnG) will be launching a new version of its card that has the capabilities of tapping into a Near Field Communication (NFC) technology in the next few weeks.
KUALA LUMPUR (July 26): Insurer AIA Group is emerging as the fourth shareholder of TNG Digital Sdn Bhd, the e-wallet unit of Touch ‘n Go Sdn Bhd, sources say.
AIA Group is investing in TNG Digital via the participation in the latest round of capital raising, which values TNG Digital at about US$700 million or approximately RM3 billion, said a source familiar with the matter.
Beside AIA, other shareholders of TNG Digital are Touch ‘n Go, which is a wholly-owned unit of banking giant CIMB Group Holdings Bhd, China’s Ant Group and New York-based investment firm Bow Wave Capital Management.
has said that its buffers remain comfortable despite some need for top-ups as more borrowers apply for repayment relief given the latest moratorium. The banking group is maintaining its 80-90bps credit cost guidance for now, but acknowledges the heightened uncertainties, especially in Malaysia. There could be some further top-up provisions (hinges on the lockdown period) but management reiterated that the existing pre-emptive buffers are still sufficient, said RHB Research in a note following a briefing.
The portion of Malaysian consumer loans on relief programmes fell to as low as 6% in end-May versus 14% in end-Dec 2020 but has since climbed higher, given the latest iteration of the moratorium.