logo
TNG Digital, Kakitangan.com launch salary payment solution

TNG Digital, Kakitangan.com launch salary payment solution

The Sun16-07-2025
KUALA LUMPUR: TNG Digital Sdn Bhd, Malaysia's largest integrated fintech player, has partnered with Kakitangan.com, a human resource solutions provider, to offer businesses a smarter and more inclusive way to disburse salaries, especially to unbanked and underserved workers.
TNG Digital CEO Alan Ni said financial inclusion has always been at the heart of the company's mission.
'With this partnership, TNG Digital and Kakitangan.com will be able to address the real pain points of individuals who lack access to traditional bank accounts by providing them with a secure and accessible salary solution through the TNG eWallet.'
With the integration of the DuitNow Bulk Transfer, employers using Kakitangan.com can now disburse salaries in bulk directly to employees' TNG eWallet accounts via any bank's cash management system, quickly and securely, even without traditional bank accounts.
Each TNG eWallet user has a DuitNow account number, enabling them to receive payments from any bank or e-wallet in Malaysia, just like a regular bank account.
Recognised by the Department of Labour as a compliant salary account, TNG eWallet is especially valuable for migrant and underserved workers who often face barriers to opening bank accounts.
It gives them immediate access to their income, along with tools to store, manage, and use their money confidently in the digital space.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

TNG Digital in no rush to go public, says CIMB
TNG Digital in no rush to go public, says CIMB

The Star

time05-08-2025

  • 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.'

CIMB CEO says Touch ‘n Go operator already qualifies as a unicorn, but won't rush into launching IPO
CIMB CEO says Touch ‘n Go operator already qualifies as a unicorn, but won't rush into launching IPO

Malay Mail

time05-08-2025

  • 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.

PayNet joins MIT CSAIL's research initiative to advance AI-driven financial innovation
PayNet joins MIT CSAIL's research initiative to advance AI-driven financial innovation

The Sun

time04-08-2025

  • The Sun

PayNet joins MIT CSAIL's research initiative to advance AI-driven financial innovation

PETALING JAYA: Payments Network Malaysia Sdn Bhd (PayNet) has become the sole Malaysian founding member of MIT CSAIL's research initiative, FinTechAI@CSAIL, reinforcing its leadership in artificial intelligence-driven financial innovation. 'The rise of AI presents both an opportunity and a responsibility. As Malaysia's national payments infrastructure provider, we're committed to shaping technology that safeguards trust and financial sovereignty. Collaborating with MIT CSAIL allows us to contribute to AI advancements that are ethical, inclusive, and resilient, which will define the next generation of financial systems globally,' said group CEO Farhan Ahmad. He added that FinTechAI@CSAIL reflects the growing importance of AI across financial ecosystems, an evolution that aligns with their own trajectory at PayNet. 'We're integrating AI into the core of our national payments infrastructure, strengthening fraud analytics, enhancing operational resilience, and accelerating digitalisation. Our goal is to build intelligent, secure, and future-ready financial platforms for all Malaysians,' Farhan said. FinTechAI@CSAIL will facilitate cross-sector collaboration by connecting researchers with regulators, startups and international financial institutions. The initiative builds on the successful track record of applied research and knowledge transfer between the Massachusetts Institute of Technology and global financial bodies, aiming to shape the next generation of financial technologies responsibly. Potential areas of study include efficiency and productivity, regulation compliance and governance, personalisation and customer experience, democratisation of gains and opportunities, fraud detection and cybersecurity, and data processing and utilisation. 'I am excited to work with our initiative members to advance the foundations of AI and enable new capabilities for the fintech industry,' said MIT CSAIL (Massachusetts Institute of Technology Computer Science and Artificial Intelligence Laboratory) director Professor Daniela Rus. 'Together, we aim to develop intelligent, trustworthy, and transformative fintech AI solutions that can shape the future of global finance.' PayNet's commitment to meaningful AI innovation is also evident in local initiatives such as Program Akar, a collaboration with Microsoft aimed at equipping young Malaysians with skills in AI and data science. Within its DuitNow ecosystem, the company utilises AI-driven, real-time risk monitoring to maintain robust security and performance at scale, demonstrating how strategic applications can deliver lasting value. In expanding its global research partnerships, PayNet has formed a partnership with Imperial College London to explore the ethical dimensions and governance of AI in the payments sector. This collaboration builds on PayNet's practical experience with AI implementation, ensuring that a robust ethical and regulatory framework guides innovation.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store