KUALA LUMPUR, Sept 10 – Touch ‘n Go Sdn Bhd (TnG) plans to launch a digital application that will enable cashless transaction between customers, small retailers and stall traders in the first quarter of next year. CEO Syahrunizam Samsudin said this will allow the electronic payment service provider to tap the segment which has good potential in expanding its service offerings. He said they are still in the development process and awaiting approval from the authorities.
He told this to reporters after the launch of the TnG new customer hub here yesterday by CIMB Group Bhd CEO Tengku Datuk Seri Zafrul Tengku Abdul Aziz. CIMB owns 52% of Touch’N Go Sdn Bhd, MTD Capital Bhd 28% and PLUS Expressways Bhd the remaining 20%. Syahrunizam said the application is not only in line with the company’s vision to become the leader in e-payment services but also to expand its services in the retail sector.
TnG currently offers the cashless transaction option service in convenient stores such as KK Super Mart and myNEWS.com, and is in discussions with other convenient stores to introduce it, after having a presence in hypermarkets. Syahrunizam said the transport sector contributes 98% to the company’s revenue while the retail sector accounts for the rest. TnG, he added, has 16.2 million active cards in circulation, servicing 1.8 million customers every day.
Syahrunizam said TnG plans to spend about RM4 million to open three more customer hubs in the next 12 months to enhance customers’ experience and to encourage them to go cashless. The newly launched hub is the fourth of its kind in the country, of which three are in the Klang Valley and one in Johor Baru. The key features of the hub include extended operating hours until 10pm, open seven days a week, a self-service kiosk and free Wi-Fi access. — Bernama