AEON Group which is mainly known for its retail chain and financial services apparently will be rolling its cashless payment service called E-Wallet to consumers very soon. This doesn’t come as a surprise since the company’s name has been listed as one of the authorized e-money providers by Bank Negara Malaysia for quite some time.
According to a recent report, users first need to top up funds into AEON E-Wallet before they are able to use it for payments via QR code. The same report also pointed out that the AEON Pay label will be displayed by premises that are to accept the cashless payment service.
Other than the information above, the report didn’t further clarify more details regarding the AEON E-Wallet or AEON Pay though. After digging up a little bit further, we have stumbled upon a presentation deck for AEON Credit Service’s investors back in 2017 which contains a slide (shown below) that provides a glimpse on what the company is planning to implement on its E-Wallet service.
As shown above, the app is not only about payment but will also integrate loyalty program and elements of gamification. Not only that, AEON E-Wallet is meant to serve not only AEON Credit Service’s customers but also customers of other companies within AEON Group.
In terms of release date, AEON Credit Service has noted in its annual report for financial year 2018 that it expects to officially launch AEON E-Wallet within the financial year 2019. We expect AEON Group to reveal more information regarding its upcoming digital payment effort as we get to closer to its launch date, so stay tuned.