KUALA LUMPUR: TNG Digital Sdn Bhd will introduce a 1.0 per cent fee for all credit card reloads from Feb 23.
All reloads via DuitNow Transfer and debit cards will continue to be free of charge.
TNG Digital said the move is to curb excessive cashing out of credit card balance to bank accounts and offset the heavy cost of credit card reload which the company has been subsidising since its inception.
"Users are encouraged to use bank transfers via DuitNow which has exactly the same process as fund transfer among bank accounts.
"Bank transfers via DuitNow is subjected to enhanced anti-fraud measures such as biometric authentication and device binding to account, which makes it one of the safest reload methods," Alan Ni, chief executive officer of TNG Digital said.
"As the largest financial institution serving over 20 million e-KYC verified users, we must find a fine balance between convenience, security, and the long-term cost sustainability of our company.
"To provide consumers more options, we still allow credit card as one of the reload channels, but we also urge users to reload their eWallet via DuitNow Transfers or debit cards, which are both free of charge," he added.