Touch N Go (TNG) is set to introduce a new e-wallet payment system based on technology from Alipay. The new service would be positioned in such a way as to cover as many vendors as possible, including those in markets and tea stalls.
The Star reports that the so called Touch N Go e-wallet is currently undergoing several evaluation processes before it can be released to the public. Despite this, details about the system are rather light.
TNG is one of the most widespread e-payment systems available in Malaysia. Although it’s largely limited to use on public transportation and highway toll booths. Adopting Alipay’s technology will presumably all TNG to expand into just about everything else.
Alipay is the financial arm of the Alibaba Group, which has been making aggressive inroads into Malaysia. Founder and CEO Jack Ma has been appointed as a special advisor to the government, while the company has announced that it plans to set up a regional hub in the country.
[Source: The Star]