PETALING JAYA: Touch ‘n Go eWallet today announced that it has launched the DuitNow Transfer function, allowing users to move their monies from any internet banking account directly to the eWallet in real time.
In addition to providing users with greater function and flexibility, this supports Touch ‘n Go eWallet’s expansion into the digital financial services space. With the DuitNow Transfer function, Touch ‘n Go eWallet is now interoperable and part of a larger payments ecosystem alongside banks. Touch ‘n Go eWallet is already accepted in more than one million DuitNow QR merchant acceptance points, and the implementation of DuitNow Transfer is expected to fuel its usage further.
“This also opens several new opportunities for our users. For example, working adults can easily move monies directly from their internet banking accounts to the Touch ‘n Go eWallets of their children, elderly parents and / or domestic helpers. As things evolve, employers could also use this as an alternative to allowance disbursements for their workers. We will continue to innovate around this space for our users,” Touch ‘n Go group CEO Effendy Shahul Hamid said.
Using DuitNow Transfer 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.
DuitNow Transfer is operated by Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for Malaysia’s financial markets.
DuitNow Transfer is the second service from PayNet that has been accepted by Touch ‘n Go eWallet, the first being the DuitNow QR, the national QR code standard which allows for any compliant QR Code to take payments from any participating banks and eWallets.