Touch ‘n Go eWallet Now Shows The New GO+ Investment Feature

Selected Touch ‘n Go (TnG) eWallet users are now able to utilize the new GO+ investment feature ahead of its official launch that apparently will take place later this month. TnG’s fintech subsidiary, TNG Digital who is responsible for the service had in January received approval from the Securities Commission of Malaysia (SC) to sell investment products through the platform.

According to its official FAQ, the new service essentially allows you to earn money based on the money that is available in your GO+ account which is actually separate from your TnG eWallet funds. It’s not like a bank deposit, however – you’ll be investing in a money market fund, which tends to be low risk.

The fund, called Principal e-Cash, will be managed by Principal Asset Management – a fund management company that is a joint venture between US-based Principal Financial Group and CIMB Group Holdings Berhad.

Designed to be affordable for the masses, GO+ requires a minimum investment of only RM10. But if you’re thinking of going big, an individual GO+ account can max out at RM9,500. Also, you’re allowed to make cash out requests anytime you like.

All Malaysian TnG eWallet users who are 18 and above are eligible to upgrade to GO+. Of course, you’ll have to complete the account verification process too and TNG Digital has also pointed states that the fund isn’t Shariah-compliant.

With GO+, the TnG eWallet becomes the first e-wallet in Malaysia to allow its users to make investments. Will other e-wallets soon follow suit? We will know soon enough but it is indeed an interesting time for the local fintech industry.

Touch n Go eWallet PayDirect Feature Now Supports Parking Payment

First introduced back in 2019, the PayDirect feature allows users to link their physical Touch ‘n Go (TNG) cards to TNG eWallet app although it only works for toll payment. Fast forward to almost two years later, it can now support parking payment as well.

At the moment, the PayDirect Parking feature is only available at very limited locations with one of them being the Gurney Paragon Mall in Penang which was announced earlier today. While the shopping mall is the first PayDirect Parking location to be publicly revealed by TNG, PayDirect Parking has actually been tested much earlier at five locations within Klang Valley.

They include public car parks at Complex C of the Federal Government Administrative Centre in Putrajaya as well as Republik Damansara Heights. The PayDirect Parking is also supported at Vortex KLCC, The Curve of Mutiara Damansara, and Empire Shopping Gallery in Subang Jaya.

Just like the PayDirect for toll payments, users that have activated the feature on their TNG eWallet account only need to tap their TNG cards on their way in and out of the parking. The parking fee will be deducted directly from their eWallet account unless it has an insufficient balance.

In conjunction with the launch of the feature, Gurney Paragon Mall is now offering 20% cashback for those who pay the parking fee at the shopping mall using the new feature. Capped at RM 1, the promo is available until 30 April 2021 although it is limited to the first 10,000 redemptions and only one cashback per user.

Chief Commercial Officer of TNG, Chong Fhui was also more than happy to point out that there is no parking surcharge for TNG users at Gurney Paragon Mall. In case you need more information regarding PayDirect Parking, check out this FAQ section of TNG’s official support website.