TNG Digital has officially launched the TNG Digital Business Account, which is designed to help micro, small, and medium enterprises (MSMEs) and gig workers to manage their operations. The launch took place at the Hilton Petaling Jaya today and was officiated by Deputy Minister of Domestic Trade and Cost of Living YB Senator Dr. Hajah Fuziah Binti Salleh alongside TNG Digital CEO Alan Ni.
The Business Account is a fully digital eWallet account hosted within the TNG eWallet app. The account is available to all types of businesses, but it is specifically designed for various types of small businesses like MSMEs, hawkers, informal merchants, and gig workers, which are typically ineligible for traditional financial services.
Creating the account takes about 30 minutes and requires no fees, paperwork, or minimum balance. One of the perks offered by the Business Account includes a wallet size of up to RM60,000 for individual traders, with an increased limit of RM500,000 for businesses registered with the Companies Commission of Malaysia (SSM).
Other benefits include instant settlements and access to tools that aid the merchant in growing their business. Among these are the Near Me feature, which helps to boost visibility, as well as the GOyang-GOyang cashback and voucher campaigns for driving customer engagement. Moreover, the account comes with built-in safety features, including a dedicated PIN, kill switch, as well as 24/7 fraud protection. TNG Digital also plans on adding more features to the Business Account in the future, such as micro-lending, savings, and protection services.
According to Alan Ni, the TNG Digital Business Account was conceived to address the lack of tools to help micro and small businesses scale and operate efficiently in a digital economy. He went on to explain that the account serves to allow these businesses receive funds in real time and transfer them across banks seamlessly at no cost.
