KUALA LUMPUR: E-wallet providers need to work together to educate customers on how to choose the best e-wallet services.
Touch ‘n Go Sdn Bhd and TNG Digital Sdn Bhd chief executive officer Syahrunizam Samsudin said Malaysians were spoilt for choice as Malaysia had more e-wallet providers compared with the world’s second largest economy, China.
“Hence, it is natural that customers end up bewildered with the myriad e-wallet offerings.
“At the end of the day, consumers will choose the e-wallet provider which gives them more value and benefits,” he said on the sidelines of the Wild Digital Asia 2019 conference.
Syahrunizam said the e-wallet market also depended on the demographics and age group, with those between 18 and 25 having an average of five e-wallets to maximize the benefits, while those above 35 tend to focus on only one or two e-wallets as it was more convenient.
He also said the service providers needed to upgrade their products with the latest technology as local users had become technologically savvy.
He added that TNG Digital’s Touch ‘n Go e-wallet would continue to innovate and create more opportunities for Malaysians to go cashless.
“Touch ‘n Go and Touch ‘n Go Digital will continue to innovate and create more use cases for Malaysians primarily in the area of transport and lifestyle.
“We are very much homegrown and we know Malaysians very well for the last 22 years and now we want to use our data-driven technologies to create more possibilities for Malaysians,” he said.
TOUCH ‘n Go began its journey with Malaysians over two decades ago when the Touch ‘n Go card was introduced to drivers, making it much easier and faster to pay toll on the highways.
The process was simple and contactless. A simple tap on the reader with the card allowed customers to make payments for transport. -- Bernama