
TNG eWallet empowers small traders with digital tools
The company, through TNG eWallet, provides static QR codes and a Merchant Dashboard system, both free of charge, enabling traders to accept cashless payments and monitor real-time transactions.
TNG eWallet is integrated with DuitNow QR through a partnership with Payments Network Malaysia Sdn Bhd (PayNet), allowing merchants to receive payments from any local bank or eWallet nationwide.
In a statement today, TNG Digital chief operating officer Mohd Herman Sarbini said the company aims to support various types of businesses, from home bakers to startup founders.
'Our solutions are designed to help small merchants grow by giving them tools to manage transactions, track performance and understand customer behaviour,' he said.
TNG Digital said that to enhance security, it also introduced the Merchant Soundbox, a device that provides real-time audio confirmation for each successful transaction and helps prevent scams involving fake payment screens.
'Linked directly to the merchant's account, it gives users greater confidence during busy operating hours,' it said.
The Soundbox is offered at promotional prices to ensure affordability for small traders, especially those operating alone during peak hours.
Besides that, for merchants unfamiliar with digital tools, the company provides face-to-face onboarding sessions, live demonstrations and simple user interfaces.
'Outreach efforts are conducted regularly in collaboration with the Ministry of Domestic Trade and Cost of Living (KPDN) through the Retail Digitalisation Initiative and with support from PayNet and state governments,' the company said.
TNG Digital further said that during the Ramadan bazaar season, it collaborated with local authorities to help rural entrepreneurs transition to cashless environments.
'TNG Digital is also approved by Jabatan Tenaga Kerja Semenanjung Malaysia (JTKSM), an agency under the Ministry of Human Resources, to provide alternative salary payment services to unbanked workers.
'This approval benefits blue-collar and migrant workers, many of whom are employed by micro small and medium enterprises (SMEs),' it said.
Mohd Herman said the approval allows employers to pay salaries directly into TNG eWallet accounts, noting that nearly 70 per cent of the company's merchants are classified as micro SMEs.
'It removes the risks associated with handling cash and ensures workers have secure and immediate access to their earnings,' he said.
TNG Digital said that each TNG eWallet account is issued with a DuitNow account number that functions like a traditional bank account, enabling users to send and receive funds from any Malaysian bank and helping to bridge the gap between the unbanked and the formal financial ecosystem.
The company highlighted these initiatives at Expo 2025 Osaka, where it presented tools such as the Merchant Dashboard, Soundbox, and cashback features designed to support small businesses in managing transactions and engaging customers.
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The Star
05-08-2025
- The Star
TNG Digital in no rush to go public, says CIMB
CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu. PETALING JAYA: Touch 'n Go Digital Sdn Bhd (TNG Digital) has qualified as Malaysia's next unicorn, with CIMB Group confirming the homegrown eWallet operator has crossed the US$1bil valuation mark and turned profitable – but says there is 'no rush' to go public. CIMB Group, via 100%-owned Touch 'n Go Sdn Bhd, holds a 45.01% stake in TNG Digital, followed by Antfin Singapore Holding Pte Ltd at 23%, Alipay Singapore Holdings Pte Ltd at 11.62%, Lazadapay Holdings Pte Ltd at 11.38%, ASP Malaysia LP at 5.99%, and AIA Bhd at 3%. 'We are very confident TNG Digital is already qualified as a unicorn,' said CIMB Bank Bhd chief executive officer Gurdip Singh Sidhu, who also heads CIMB's group digital business. His comments follow Finance Minister II Datuk Seri Amir Hamzah Azizan's remarks at the MyFintech Week 2025 launch yesterday, where the government reiterated its goal of identifying five local unicorns by 2030. If confirmed, TNG Digital – Malaysia's largest financial technology company – would join the ranks of Carsome Sdn Bhd, which reached unicorn status in 2021, and Edotco Group Sdn Bhd, the regional telecommunications tower company 63%-owned by Axiata Group Bhd . With TNG Digital now profitable, Gurdip said there is no immediate urgency to list the company. 'The question of initial public offering (IPO) is something we will always assess, but it's not something we are rushing into,' he told reporters on the sidelines of a media roundtable at MyFintech Week 2025. 'At this point, the business is growing nicely. 'We have started making profit after a few years of incubation. 'So the business is in good shape, but we are not rushing into an IPO per se yet.' Last September, Reuters, citing sources, reported that TNG Digital was eyeing a Bursa Malaysia listing in two to three years that could raise over US$300mil. As at March 2025, TNG Digital had 29.8 million registered users, up 10% year-on-year (y-o-y), with average transacting users at 14.9 million. In a written reply to StarBiz, TNG Digital said it has been recording consistent quarterly profits since the third quarter of 2024, supported by more than 24 million users verified via electronic Know-Your-Customer (e-KYC). 'Our platform continues to expand beyond payments, with rapid growth in financial services and lifestyle offerings,' it said. TNG Digital said its flagship financial product, GO+, continues to drive growth, now serving nearly 3.6 million active users – a 10% y-o-y increase – while assets under management have doubled over the same period to more than RM1.5bil. GO+ is a micro-investment feature that lets users earn returns on their eWallet balance. 'As a privately held company, we are unable to disclose further financial or operational details at this time.' While financial specifics remain limited, Gurdip highlighted the growing usage of the platform beyond payments. He noted that with over 24 million e-KYC verified users, the TNG eWallet is reaching 'almost every adult Malaysian.' He added that payment usage – where users load and spend via the wallet – remains the primary measure of market share. 'Then we look at what other financial services. That part is still relatively early days, but the trajectory is very, very positive.'


New Straits Times
05-08-2025
- New Straits Times
No immediate plans for TNG Digital IPO
KUALA LUMPUR: CIMB Group Holdings Bhd has no immediate plans to pursue an initial public offering (IPO) for TNG Digital Sdn Bhd. CIMB Bank Bhd and CIMB Malaysia's chief executive officer, Gurdip Singh Sidhu, said that the company is performing well, having begun to generate profit earlier this year and has already qualified as a unicorn. "The question of an IPO is something we will always assess, but it is not something we are rushing into. "At this point, the business is growing very nicely, very well. We have started making a profit after a few years of the incubation period, but we are not rushing into an IPO per se yet," he told reporters after a media panel session held on the sidelines of MyFintech Week 2025 today. The fintech firm is 45.01 per cent owned by Touch 'n Go Sdn Bhd, a CIMB Group unit. In September 2024, TNG Digital announced plans for an IPO within the next two to three years, targeting to raise over US$300 million. Earlier, Finance Minister II Datuk Seri Amir Hamzah Azizan, in his special address at the MyFintech Week 2025, said the government aims to identify five unicorns by 2030. -- BERNAMA

Malay Mail
05-08-2025
- Malay Mail
CIMB CEO says Touch ‘n Go operator already qualifies as a unicorn, but won't rush into launching IPO
KUALA LUMPUR, Aug 5 — TNG Digital Sdn Bhd, the operator of Touch 'n Go eWallet, reportedly has no immediate plans to pursue an initial public offering (IPO), despite already worth as much as a unicorn startup. Parent company CIMB Bank Bhd's chief executive officer Gurdip Singh Sidhu was quoted saying the company would continue to assess the possibility of an IPO but was not in a hurry to list. 'The question of IPO is something we will always assess, but it's not something we are rushing into,' he was quoted saying by The Edge Malaysia. 'At this point, the business is growing very well. We have started making profit after a few years of the incubation period,' he reportedly added. Bloomberg also quoted him saying that he is confident that TNG 'already qualifies' as a unicorn. A unicorn is defined as a private startup that is valued at over US$1 billion (RM4.8 billion), with online used car trading platform Carsome remaining the country's only one. This comes as Reuters previously reported that TNG Digital could go public within two to three years and raise US$300 million (RM1.27 billion). TNG Digital currently serves around 23 million verified users, nearly covering the entire adult population in Malaysia, according to Gurdip. He also expressed confidence that the company will achieve unicorn status by 2030 in line with the government's ambitions. Finance Minister II Datuk Seri Amir Hamzah Azizan earlier said in the same event that the government aims to identify five unicorns by 2030. This was a pivot from the previous stance taken by former economy minister Datuk Rafizi Ramli, who wanted the country to move from just producing unicorns into becoming the world's top 20 startup hub by 2030 up from the current top 50. TNG Digital is 45.01 per cent-owned by Touch 'n Go Sdn Bhd, a wholly owned unit of CIMB Group Holdings Bhd, while other shareholders include Antfin Singapore Holding Pte Ltd, Alipay Singapore Holdings Pte Ltd, Lazadapay Holdings Pte Ltd, AIA Bhd and ASP Malaysia LP.